Analysis of Key Business Functions at Marks and Spencer: A Report

This business report examines the core business functions within Marks and Spencer, a global retail company. It delves into the roles of marketing, finance, operations/production, and human resources, highlighting their individual responsibilities and collaborative importance for achieving business objectives. The marketing function focuses on creating brand awareness and driving sales through various channels, while finance manages financial resources and monitors cash flow. The operations/production department concentrates on market research and product manufacturing, and human resources handles recruitment, training, and employee development. The report emphasizes the interconnectedness of these functions, arguing that effective coordination is crucial for efficiency, cost-effectiveness, and overall business success, as a lack of coordination can negatively impact the organization. The conclusion reiterates the significance of these functions working together to reduce waste, satisfy customers, and enhance the company's image.

Business report

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Role of marketing........................................................................................................................1
Role of finance............................................................................................................................1
Role of operation/production......................................................................................................1
Role of human resource..............................................................................................................2
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Business functions are considered as process which includes activities such as- day-to-
day business tasks and activities known as core functions and supportive duties that helps in
constant activation of core duties (Business Functions, 2020). It plays vital role in achievement
of business objectives and goals.
Marks and Spencer is a global retailer of clothing, home and food products. The firm is
founded in 1884 and its headquarter is situated at London, United Kingdom. In this report roles
of different functions of respective organisation are discussed and why it is important for them to
work together.
MAIN BODY
Role of marketing
It is an essential function of management that helps organisation in creating awareness
towards its goods and products so as to attract consumers and increase the sale of firm (Chan,
Wang and Ybarra, 2018). In terms of respective firm marketing department is responsible for
ensuring display of message at every medium such as- TV & mobile ads, social media
campaigns and special loyalty programs like “sparks” that increases points in customers accounts
at spent on every shopping for future purchase. It plays important role in rising customers base of
firm.
Role of finance
It is responsible for allocating financial resources properly and manage funds in for
effective functioning of business. In terms of respective enterprises it is the duty of financial
department to ensure day-to-day business transaction record, analysing monetary position of
firm, monitoring cash flows and taking important decisions (Aagaard, 2016). This will help in
constant implementation of plans and activities within the organisation.
Role of operation/production
This department is responsible for market research and manufacturing of products as per
the demands & expectations of consumers. With respect to Marks and Spencer operation or
production department is liable for conducting market research and ensures the quality of
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products is high and stores are situated at convenient locations so that customer can easily access
and purchase its products (Lankoski and Smith, 2018).
Role of human resource
It is also an important function of management which plays crucial role in recruitment,
selection, training & development of human resources or proper functioning of business
activities. In context of Marks & Spencer HR department is responsible for facilitating effective
training and development programs in order to increase the moral of employees and sales of firm
by offering purposeful service.
Working together of all these functions are important for successful operation of
respective firm in order to save the time and cost of company. All these functions are inter-linked
and without co-ordination of each affects the entire process of the organisation which impacts the
business in negative ways (Bogoviz and et. al., 2019). For instance if all functions plays their
role in effective way but, human resource doesn't co-operate with firm then it will create a barrier
in production and manufacturing of products. This leads to in crease the time as well as cost of
organisation. Thus, for successful running of Marks & Spencer working together of functional
departments are necessary.
CONCLUSION
As per above analysis it is summarised that work together of different business function
are important for proper and regular functioning of business. This helps in reducing wastage of
time and resources, satisfying customers with expected quality, enhancing image of business etc.
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REFERENCES
Books and Journals
Aagaard, A., 2016. Sustainable business: Integrating CSR in business and functions. Stylus
Publishing, LLC.
Bogoviz, A.V. and et. al., 2019. The Role and Functions of Mediator in the Process of Decision
Making in Modern Business Systems. In The Leading Practice of Decision Making in
Modern Business Systems. Emerald Publishing Limited.
Chan, T., Wang, I.M. and Ybarra, O., 2018. Leading and managing the workplace: The role of
executive functions. Academy of Management Perspectives, (ja).
Lankoski, L. and Smith, N.C., 2018. Alternative objective functions for firms. Organization &
Environment. 31(3). pp.242-262.
Online
Business Functions. 2020. [Online] Available through <https://www.mckinsey.com/business-
functions>./
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