The Integration of Business Functions : Report
Added on -2020-07-22
| 12 pages| 3880 words| 78 views
Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 12 pages
The Integration ofBusiness Functions
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................2Changes in strategy and strategic direction in last ten years.......................................................2Role of business functions..........................................................................................................7CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................101
INTRODUCTIONBusiness functions integration plays an important role in reducing personnel andoverhead costs as it minimizes employees costs and resources. Business integration strategieshelps in managing employees, minimizing ineffective communication and supplier expensitures.Primark is clothing company which was established in 1962 by Arthur Rayan. It is headquarteredin Dublin, Ireland. It is specialised in selling diverse range of products like clothing, womenwear, house wares, beauty products and footwear. It also contributes in fast fashion trends andaccessories. The PS Pro product of the organisation has gained popularity in the world and it hasbeen praised by many beauties bloggers. It has 315 stores and its largest store is established inEngland. In this essay, changing in strategies are tracked in 10 years (Abrhám, Bilan,Krauchenia and Strielkowski, 2015). Relationship between these changes with strategicleadership, structure, culture, market forces and environment is highlighted. Moreover, role ofbusiness functions in marketing, operations management, human resource management andaccounting/finance are discussed.Changes in strategy and strategic direction in last ten yearsPrimark is retail company and has used various business strategies to move with highprofile business environment. The company has changed various plans and policies to increasetheir plans and process to increase their performance and productivity. Integration of businessoperations before ten years was different from today's era (Akhtar and et.al., 2017). Due tochange inn demands, choices, taste, culture of the customers, Primark has to change its plans hasbusiness policies. Various factors which has affected the old strategies of the company arestakeholders expectations, human resources, internal and external environment, management,market competition , variety of products and services. Strategic leadership:Due to change in different plans and policies in last ten years, strategic leadership hasalso been changed. They have to fulfil all the expectation of stakeholders in unique ways andcommunicate them their benefits and products so that they can attract more customers. The bestleaders of the company work hard and are more devoted for making effective results for theirorganisation. They look after various plans and policies of the company and put their all effortsto increase the productivity of the organisation (Aristovnik and Obadic, 2015). The leaders arefocuses only on their employees only to increase the productivity of the company. On the other2
hand, managers of Primark are now more concerned for their employees as well as theircustomers. They consider them as an essential tool which can help them to achieve desiredresults. After ten years, leaders are more concerned for securing trust and respect of all their oldand new customers as well as other organisations. They have developed empathy bandcommunication skills so that they can effectively handle all the business operations of thecompany. The people are more concerned for their products and they are much award of all theconsumer related acts and laws (Bingham and O'leary, 2014). This has forced Primark to makeeffective plans and policies so that they can perform better in the market. They have to takedecisions quickly and correctly so that they can handle all the challenging situations effectively. Culture:Culture, belief, and values of people plays an essential role in successful operation of thecompany. Though different people have different culture and their values also changes with time.Before ten years, company does not have to concern more about the values and tradition of thepeople as they do not concentrate more on their choices. The customers purchase only thoseproducts which are affordable and best in quality. They do not aware about western tradition anddo not follow it blindly (Bouckaert,Peters and Verhoest, 2016). In this period, choices of adultsand young generation has been changed. They follow the luxurious trends and tradition ofwestern culture and follow all the rules and regulations of their culture also. Another greaterexpect of this is that leaders are concentrating more on technological innovation to provide thebest facilities to their customers as well as their employees. Earlier, employees have to put moreefforts to make effective products. New technology has reduced all the efforts and extra time which they have to give todevelop effective products. This has helped them to complete their tasks before deadline andfocus on long term objectives and goals. Further, culture of the people has been affecteddrastically by western tradition, values and beliefs. People are more concerned towards therituals, brands and taste of other people (Bromley and Meyer, 2014). Cultural change hasencouraged the company to change their old policies and implement new strategies which canprovide unique and effective products and services to their customers. Market forces:3
Found this document preview useful?
You are reading a preview
Upload your documents to download
or
Become a Desklib member to get accesss
Paid Plans
Free Plan
Single Unlock
Monthly Plan
Yearly Plan