Report on HR, Marketing, and Finance Functions at Mark & Spencer UK

This report provides an analysis of the key business functions of Human Resources (HR), Marketing, and Finance within the context of Mark & Spencer, a prominent retail service provider in the UK. It explores the role of each function in contributing to the organization's growth and overall success, highlighting the importance of effective resource utilization and strategic planning. The report also examines collaborative working practices within the organization, emphasizing the significance of transparency, idea sharing, employee engagement, and positive rewards in fostering a productive work environment. Furthermore, it demonstrates an understanding of the role of financial management in ensuring the proper distribution of cash, maintaining a balance between profit and loss, and managing risks associated with business activities. The analysis concludes by underscoring the importance of motivated employees, strong manager-employee relationships, and effective financial management for achieving business goals and sustainable growth. Desklib offers a range of similar assignments and study tools for students.

INTRODUCTION TO THE
BUSINESS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Role of HR, Marketing and Finance Functions...........................................................................3
Evolve an understanding of collaborative working practices in organization.............................4
Demonstrate knowledge of the role of financial management....................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Organization is combination so many activities for generate profit and revenue with
effective performance in the competitive market. Impressive business manager or business
developer include so many activities for proper strategic company expansion (Narendran, 2021).
Mark and Spencer is retail service provider n UK. They are mainly sold cloths, food products
with their own label. This report will provide idea about how various business departments are
managed their different aspect for organization growth. This report also gives idea that how
company can manage effective relation with employee.
MAIN BODY
Role of HR, Marketing and Finance Functions
According to the competitive and effective market policies, organization is follows some
activities for effective utilization of all the resources. Every activity which is beneficial for
organization growth and their success is important part. Planning and strategy for innovative
organization development is difficult task. Mark and Spencer is large retail industry they have
great team of human resource which are essential for the overall business success. They use
various techniques for the management of their marketing and finance activities. So the functions
of different essential aspects of organization are as follows,
Human resource functions:
HR is important role for organization performance. Human resource management
department has so many responsibilities to make impressive business performance like employee
recruitment, training, selection, hiring etc. Mark and Spencer HR team follow some rules for
business management like they prepare proper structure for the recruitment. According to recent
trend they use advertising technique for the new employee selection, And also they provide
effective training with the helps for technology advance. Business plan takes so many things for
their development and their survive in the market (Allal-Chérif, Simón-Moya and Ballester,
2021). Effective human resource management team can directly affects the sales and profit of the
company, because employee work force is totally depends on their selection process.
Marketing function:
Almost every one knows that marketing activity is essential for part organization because
it increases the overall sells ad profit. Marketing experts are developed new things they prepare

strategy for including new customer audience towards for the organization. Mark and Spencer
have great team for the marketing strategy with effective manner. Marketing manager use new
techniques for advertising of the product and services. According to recent trend almost every
organization apply digital marketing tools for the product marketing. On the basis of innovative
techniques, it is easier process to connect with large number of people within the low cost and
low time. Mark and Spenser also uses this technique for like they prepare websites, social media
page, provide online services and many more to their customer. The major part is that they have
large number of products with different categories, so it will directly increase their market
performance (Sarkum, and Syamsuri, 2021).
Finance function:
Over all organization activities are totally depends on money. So, the finance is the major
aspect that company have to manage this for their long term growth. Organization finance
manager has strategy and knowledge that how to manage cash flow in business activity. Finance
department handle profit, sales, employee salary, increments, new thing development etc. M&S
finance controller and manager decide that how to utilize funds in proper manner so company
can more generate their profit. Finance is the lifeblood of any company. Without finance
business are not survived in market.
Evolve an understanding of collaborative working practices in organization
Organization initiates the practices for their smooth run activities. It is important that
company prepare some plan for the employee shows their talent at workplace. Because every
individual has different skills for the efficient work plan. Relaxation in some practices are more
beneficial for long term development (Mauleka and Rahman, 2021). Mark and Spencer company
believes in that some performances are totally depends on employee work style. Many practices
are follows by the organization for collaborative working practices are as follows,
Transparency and Openness:
This is major aspect that in some case company manager and director can discuss
problems and new plans with their employee. It is beneficial for attractiveness improvement
from employee. Employee more beliefs in organization services, and they give their hundred
percent from their skills. The organization faces any problem it is not compulsory that the
solutions are only available from business manager, directors. Employees are also knowledge

they also try to solve some problems for organization. So the major aspect is that the company
should consider the employee solutions as well.
Idea sharing culture:
Participated employees have their different knowledge they all have some different skills
in their field. Company has to consider some changes in activities of organization according to
employee decision. Organization has to trust on employee skills. They have to provide rights to
their employee that they can share their ideas with organization, so individual can more
effectively performing with business development. Mark and Spencer company provide relief to
their employee, so they can prepare new strategy in marketing, human resource management,
selling and many more. New and effective idea can solve many problems with effectiveness and
in easier ways that is the reason company has to consider and provide values their employee
review and their ideas (Annosi and et.al., 2021).
Encourage engagement:
Employee wants encourage when the performing well in the organization because this
will motivate their working quality. They more efficiently performing in the organization. Mark
and Spencer prepare some plan for employee encouragement. Motivation is the best technique to
improve relationship with the employee. Usually manger not focusses on motivating their
employee but it is not effective aspect because motivation is the technique which directly affect
the employee performance in company. The operation activities are directly increased by
encouragement.
Offer positive rewards:
Eventually every human works for their self self-satisfaction or fulfil their needs and
wants. It is necessary that company creates some rewards, increments for their employee. It
develops more efficiency in work culture. Offering new benefits is key for organization work
improvement. Company has to make policies and prices for employee best work. Mark and
Spencer believes that employee happiness is directly affects the overall business strategy
effectiveness. The company prepare policies to their customers like festival bonus, effective
result rewards, relaxation in working hours etc.
Demonstrate knowledge of the role of financial management
Finance manager has the biggest responsibility for the proper management and
distribution of cash in organization different sectors. It is essential that finance manager has clear

knowledge about that how to invest money, where to distribute funds, which technique is best for
fund rising and more (Zhang and et.al., 2021). So the overall business activities are totally
depends on profit and fund management. Finance manager prepare financial report, cash flow
management, transaction plans, transport expenses etc. which means overall flow of money its
depends on finance manager.
Organization finance manager has authority for maintaining balance within profit and
loss. They have capability to maintain funds for organization new opportunity development.
Knowledge of market demand diversification, interest rates, government taxes, market issues etc.
things are affects the finance manager work force. Management of finance is not ans easier task.
Mark and Spencer has great finance manager and finance team those are properly managed
money flow in the organization, they prepare effective plan. That is the reason this company has
great position in the market because they use effective plan for money management with proper
knowledge and applications of profit and losses (Úbeda-García and et.al., 2021).
Responsibility of money management takes time because overall organization resources
are also depends on available funds. Mark and Spencer has so many stores in UK. They use
effective strategy to main their profit and loss, because of their proper financial management
they smoothly run their organization in this huge market. It is not an easier task to survive in this
competitive market. Financial manager concern about changes on available funds which thing is
provided more profitability so organization can develop new things for money and profit raise.
Effective finance manager has great understanding about money management for the
organization they prepare structure which is impressive technique for organization. This
department activities directly affects the overall business strategy, because every new
opportunities wants fund for their expansion. Organization start to end all the activities needs
cash like land buying, purchasing of raw material, operation production activity, human resource
recruitment etc. which means start to end the whole business process wants cash. So it is
essential that every business development needs effective financial manager for new and
impressive opportunities. Finance manager has key for mange risk in the business, ad they use
techniques that how company can reduce their risk with innovative plan (Di Vaio and et.al.,
2021). They manage numerous factors like business manager investment, day sales and income,
cash for assets and liabilities, depreciations, dividends and many more.

CONCLUSION
It has been summarized form the above study that business needs to understand about
how to manage various departments for their effective growth and development. It has been clear
that motivated employee and good relationship between manager and employee provide more
efficiency in workforce and employee work power and energy level is increased by proper
motivation. Also, this report shown that finance manager can play major role for business
development, and they manage so many tasks for new goals achievement and their expansion.

REFERENCES
Books and Journals
Allal-Chérif, O., Simón-Moya, V. and Ballester, A. C. C., 2021. Intelligent purchasing: How
artificial intelligence can redefine the purchasing function. Journal of Business
Research. 124. pp.69-76.
Annosi, M. C., and et.al., 2021. Digitalization within food supply chains to prevent food waste.
Drivers, barriers and collaboration practices. Industrial Marketing Management. 93.
pp.208-220.
Di Vaio, A., and et.al., 2021. The role of digital innovation in knowledge management systems:
A systematic literature review. Journal of Business Research. 123. pp.220-231.
Mauleka, M. I. and Rahman, M., 2021. Product innovation and optimization of the role of HR
on the Snackqu Business Unit in Indonesia. Technium Soc. Sci. J.. 16. p.199.
Narendran, R., 2021. CHAPTER A Journey from Transactional to Transformational
Function. Transformational Leadership in Banking: Challenges of Governance,
Leadership and HR in a Digital and Disruptive World. p.305.
Sarkum, S. and Syamsuri, R., 2021. The Role of Marketing Function for Competitive
Advantage. Calitatea. 22(180). pp.32-39.
Úbeda-García, M., and et.al., 2021. Corporate social responsibility and firm performance in the
hotel industry. The mediating role of green human resource management and
environmental outcomes. Journal of Business Research. 123. pp.57-69.
Zhang, Y., and et.al., 2021. Topic evolution, disruption and resilience in early COVID-19
research. Scientometrics. 126(5). pp.4225-4253.