Why Working Across Departments is Important

Running Head: ROLE OF DIFFERENT DEPARTMENTS
ROLE OF DIFFERENT DEPARTMENTS
Name of the student
Name of the University
Author’s Note

ROLE OF DIFFERENT DEPARTMENTS1
Executive Summary
This paper focuses on discussing the role of different departments within an organisation. It
depicts a clear analysis of the understanding of how different department collaborates in
order to achieve a common goal of the organisation. The paper explains this with the help of
two companies, Tesco and Unilever. It discusses the role and significance of the financial
management and the purpose of reporting in an organisation, backed by how these companies
disclose the financial statements in the annual report.

ROLE OF DIFFERENT DEPARTMENTS2
Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Teamwork and Its Importance...............................................................................................5
Interaction among different departments...............................................................................5
Importance of Financial Management...................................................................................6
Purpose of reporting...............................................................................................................7
Balance Sheet.....................................................................................................................7
Cash Flow Statement..........................................................................................................8
Conclusion:................................................................................................................................8
Referencing................................................................................................................................9

ROLE OF DIFFERENT DEPARTMENTS3
Introduction
An organisation to work efficiently has different departments with different roles and
responsibilities all working towards the same goal. This paper aims to discuss the Roles and
importance of different departments. It highlights the how different departments interact
among themselves in order to increase productivity and workplace environment in Tesco and
Unilever. It shows the significance and purpose of reporting. It highlights how these
companies are disclosing information in the given financial statements.
Discussion
Marketing is the way of communicating about the product and the business with the
public. Marketing starts with advertisement of the product and ends with after sale service. It
helps in creating a view in the customers mind about the business and the characteristics of
the product. For any size and type of business, it is advisable that the organisation has a
marketing department that helps it to go far in the competition. This department is mainly
concerned with the marketing and sales of the product (Feng, Morgan and Rego 2015). It
helps in determining its targeted customers. Importance of this department are as follows:
1. Innovation: Marketing department is the most creative department. It is engaged in
creating different strategies and tools to promote the business.
2. Create Awareness: Introduce the products and services to the public through proper
advertisement strategies so that the public is familiarized with the product and its
uses.
3. Improve Brand Value: It consistently works on improving the brand image of the
company by providing improvising the quality and quantity of the product and
services provided.