Report on Marketing, Finance Functions and Collaboration in Business

This report provides an overview of the critical roles of marketing and finance functions within an organization, focusing on the example of Baby Shop International Cosmetics. It highlights how marketing meets customer needs, ensures company sustainability, and manages pricing and advertising, while finance focuses on cash flow management, strategic planning, and cost control. The report also discusses the importance of collaborative working practices in enhancing productivity and achieving organizational objectives. Furthermore, it examines the role of financial management in developing financial strategies, maintaining financial records, and managing capital to support effective decision-making and overall business success. Desklib offers a range of solved assignments and resources for students.

Introduction to
Business studies

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
Role of marketing and finance functions within an organization...............................................3
Collaborative working practices.................................................................................................5
Role of financial management ...................................................................................................6
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Business is termed as the management that involves in industrialized and commercialized
exercises. Managerial unit can be profitable or non profitable that provide varied term of
facilities and goods to their customer at the field of marketplace. As there are various divisions
who perform several term of functions with the purpose to accomplish the targets (Anderson,
and Burchell, 2021). The management consider in this report is baby shop international
cosmetics. The management motivate their consumers by providing high term of experiences and
best consumer facilities. The purpose of developing report is to know about role of finance and
marketing functions. It offers knowledge about collaborative working exercises. At last it
involves role of finance management in the business.
TASK
Role of marketing and finance functions within an organization
As there are various terms of managerial operations that are presented in business.
Business operations will relates to the actions that are managed in a particular division as
effectively. The basic fundamental operation of the business will involves marketing, human
resources, consumers services, information technology, finance, ware house and so on. In order
to the baby shop that is functioning at multinational level in customer product industry. As there
are varied term of operations that they present in that role of two basic functions are as follows -
Role of marketing function
Marketing function is termed as the role or procedure that involves all actions that
engaged the conception of goods for the manner till it reaches to their final user. Hence, this
division or operations will present a lot of actions in terms of advertising goods, delivering
facilities, aware consumer and so on (Ashraf, 2021). Baby shop is a wide management with
various roles that are presented by marketing operations are as follows - Meets customers wants and need – As per to this management, marketing operations
conduct actions in respect to know their requirements and desires of their orientated
targeted consumer. Hence, they can create tactics as per to it. In order of Baby shop, their
marketing division workers conduct market analysis on regular basis by which they will
be capable to understand about consumer desires and wants. It will support them in
creating suitable goods that will supports in maximising their sales.

 Ensure company sustainability, goodwill and development - Marketing unit also present
market analysis by which they can understand about varied term of factors that will lead
to managerial sustainability, goodwill and development. In order of respective business,
marketing operations will present an effective analysis and comparison by which they
will be capable to understand about sustainability factors. Hence, they also supports in
factors by which Baby shop can develop their company and maximise their goodwill at
the field of marketplace.
 Adapting the right cost – Cost is relates to the basic component of marketing mix due to
it produce high term of income (Bouncken, and Barwinski, 2021). Marketing operations
of the business will support the business in maintaining fair dealing by mentioning right
method regarding their goods and facilities. In order to the Baby shop, their marketing
operation will perform various actions that supports them in managing suitable cost as
per to the target consumers.
 Promoting and advertisement - It is termed as one of the fundamental division that
performs by marketing. As per to it, company marketing division present innovative and
creative actions in respect to advertise their goods and facilities. In order to Baby shop,
their marketing operations will maintain with new and creative advertisement actions that
will supports them in influencing high term of consumer towards them that will directly
maximise their sales.
Role of finance function
Finance function will involves acquisition and usage of funds that are important for
presenting efficient functions. Finance is termed as backbone of managerial structure that
supports in creating budget, offering money and holding the cost. They also ascertain suitable
sources that will support the business in increasing them. In order to the Baby shop, some of the
fundamental role of financial functions are as follows - Cash flow management - It is fundamental role of finance division at the business. As
per it, finance present various actions in respect to maintain cash flow at the field of
management (Brandl, and et.al., 2021). In context to Baby shop, their financial operations
will maintain cash inflow and outflow due to which they will be capable to take proper
decision with the purpose of accomplishing targets. As the management is potential then
they will present suitable scheduling by utilising diverse resources such as bank credit.

 Strategic planning and budgeting - Finance division of the business will present diverse
actions in terms of strategic planning and monetary fund that will also supports the
business in creating efficient decisions. In context to the Baby shop, their financial
division will present global analysis that will support them in creating efficient budget.
 Profit planning and cost control - Finance division of the business will perform their
roles and actions that are linked with planning and cost control by which the staff faculty
will perform their roles as effectively (Falahat, and et.al., 2021). In context to the Baby
shop, their financial divisions conduct planning and fund control actions for the business
present position.
These are the fundamental roles that are presented by marketing and finance of Baby
shop in respect to maximise their sales and profitability level.
Collaborative working practices
Collaboration will termed to the position at which person or group of individuals will
work together in respect to accomplish their targets and address problems. Collaboration
practices is termed as manner as per to which the individual or business might perform in respect
to deliver goods and facilities in a creative way. As there are varied terms in which the business
might adapt in respect to conduct collaborative performing at their workplace in an efficient way.
In context to Baby shop, management conduct various exercises in respect to advertise and
maximise collaborative exercises at their workplace. By this there are varied term of advantages
that are hold by business while executing collaborative working that are as follows - Develop productivity - Respective action will support the business in increasing their
productivity. It will also termed as an essential aspects for them by which they can
maximise in productivity of business that will be capable to accomplish higher term of
profitability and market share at the field of marketplace (Haque, and et.al., 2021). It
will also support them in enhancing staff motivation and their performance.
 Attain desire objectives – By adapting and executing collaborative working at
workplace Baby shop will be capable to accomplish their orientated targets. At the time
of collaborating working all actions are presented in efficient way and if their will be
any problem take place all staff faculty will present task to sort it. By this management
will be capable to accomplish their short and long term of targets in an effective way.
Hence, by collaborating working actions or task that are presented on regular basis.

Role of financial management
As there are varied term of role that are presented by financial management of the
business. In context to Baby shop, some basic role of financial management are as follows - Develop financial strategies - For each and every business, it is important to create
financial tactics because by it all division will be capable to present their actions as
suitably (Kralova, and Dolezelova,2021). In context to the Baby shop, their financial
division will present workplace evaluation that will support in growth of financial tactics
that will lead to increment of productivity and market share. Maintain balance sheet and profit & loss - Financial division also plays an essential role
in managing diverse sort of financial transactions like balance sheet and profit and loss
account. In context to the Baby shop, their financial management present analysis and
evaluation by which they can manage diverse financial transactions such as balance sheet
and profit and loss account. They present it because it will directly support them in
managing their decision making procedure in an effective and efficient manner.
 Capital management - It is termed as one of the fundamental role of finance
management, as per to the Baby shop management, they require to present analysis of
financial actions that will aid in capital management (Telkmann, 2021). As it is also
significant for them to present this exercise on consistent basis by which action plan will
be arranged as effectively.
CONCLUSION
From the above mentioned report it has been concluded that, there are varied division that
performs actions in respect to accomplish their desirable targets like marketing, finance,
operational and human resource. In these division, it plays significant role in the procedure of
decision making. As with it, management collaborative working practices are also required due
to which the management and their workers perform together in respect to accomplish orientated
targets and try to overcome the problems. As there are varied term of finance managerial role in
business like record balance sheet, conduct financial management and so on.

REFERENCES
Books and Journals
Anderson, S.E. and Burchell, J.M., 2021. The effects of spirituality and moral intensity on ethical
business decisions: A cross-sectional study. Journal of Business Ethics, 168(1), pp.137-
149.
Ashraf, H.A., 2021. The relationship between TQM and business performance: The mediating
role of innovation performance and organizational learning culture: A pitch. Journal of
Accounting and Management Information Systems, 20(1), pp.161-167.
Bouncken, R. and Barwinski, R., 2021. Shared digital identity and rich knowledge ties in global
3D printing—A drizzle in the clouds?. Global Strategy Journal, 11(1), pp.81-108.
Brandl, K., and et.al., 2021. The impact of multinational enterprises on community informal
institutions and rural poverty. Journal of International Business Studies, pp.1-20.
Falahat, M., and et.al., 2021. Entrepreneurial, market, learning and networking orientations as
determinants of business capability and international performance: the contingent role
of government support. International Entrepreneurship and Management Journal, pp.1-
22.
Haque, M.G., and et.al., 2021. Competitive Advantage in Cost Leadership and Differentiation of
SMEs “Bakoel Zee” Marketing Strategy in BSD. PINISI Discretion Review, 4(2),
pp.277-284.
Kralova, Z. and Dolezelova, E., 2021. The importance of English in business education in the
Czech Republic. Journal of Education for Business, 96(2), pp.111-119.
Telkmann, V., 2021. Broadcasters’ content distribution and programming decisions in multi-
channel environments: a literature review. Journal of Media Business Studies, 18(2),
pp.106-131.