Role Of Management Marketing Report

MANAGEMENT

Management 1
Role
Marketing
Role: Marketing has a vital role in promoting a company along with the mission of the
business. It assists in advancing better products and sales presentations. Marketing can drive
customers through advertisements. It not only connects with the customers but enhances
brand awareness but also increases revenue (Grabowska, Gajdzik and Saniuk, 2020).
Company example: Nike is evolving its international presence by the careful selection of
global sponsorships like its former longs-standing association with Manchester United. The
company invests heavily in promotional campaigns. The ‘Just Do it’ campaign has
contributed a lot in marketing (Statista, 2019).
Finance
Role: The financial function comprises acquiring and utilization of the funds required for the
successful operations. The things can not run smoothly in the business in the absence of
finance. The finance function comprises funding, managing budgets, accounting, financial
controls, and audits (Damodaran, 2016). The finance has an influential role in establishing a
business, running a business, expanding, modernizing and diversifying the business.
Company example: The finance functions of Nike have led to a sound financial position
which is evident from the increased profit margins and revenues. The company follows
different techniques of cost accounting and thereafter makes the best decision. The company
increases its prices during tough times and keep the business going (Blackline magazine,
2019).
HR
Role: HR includes a lot of significant functions in a company such as recruitment, training
and development, maintaining a safe work environment, employer-employee relations,
compensation and benefits, labor law compliance and performance management and more
(Khilji and Schuler, 2017).