Analyzing Business Functions at Marks & Spencer: A Detailed Report

This report provides an overview of the business functions within Marks and Spencer, a British multinational retailer. It examines the roles and importance of various functions such as marketing, finance, operations/production, and human resources. The report highlights how each function contributes to the company's objectives, including increasing sales, generating revenue, and maintaining smooth operations. It emphasizes the interrelation of these functions and how they collectively work to achieve Marks and Spencer's goals and maintain its brand value in the market. The analysis includes how marketing identifies market trends, finance manages monetary aspects, operations ensures smooth logistics and production, and human resources optimizes workforce efficiency and welfare.

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Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Business functions ......................................................................................................................1
CONCLUSION ...............................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
The term business functions means the activities conducted by the business organisations
in order to work smoothly and it can perform better for its customers, employees, shareholders
and leaders. The business enterprises divided its functions into different levels when they are
service providing business(Markwick, 2019). Here the explanation of the business functions is in
context of Marks and Spencer which is the British multinational clothing retailer headquartered
in London. The company was founded in 1884 by Michael Marks and Thomas Spencer. This
report will cover the role and importance of business functions.
MAIN BODY
Business functions
Every business perform the various activities to meet the objectives. So here the role of
every function is discussed. The role of marketing is all about creating the requirement of the
customers successfully. Marks and Spencer marketing team should ensure they identify the
market trend and meet those preferences of the customers so that the company can increase its
sales .
Role Of Finance is all about keeping the records of the monetary aspects which has been
conducted in the business in the past in the form of balance sheet, financial statement etc. Clauss,
2017). Marks and Spencer used this function when it wants to reward the shareholders who
invests in the company. This function can also help the company in a situation when it is
thinking to expand its business.
Role Of Operations/ Production is an important function for Marks and Spencer in order
to meets its objectives for increasing sales. It should ensure that the operations of the company is
going smoothly which included its logistics and the production is responsible for making sure
that new materials are being processed(Kumar ,and et.al., 2019).They should use new designs in
the clothing and a new material to attract new customers.
Role Of Human Resource in context of the company the role of HR department is to
identify the right use of people in the most efficient way according to their skills. Also, the
department looks after the welfare of the workforce and responsible for their their training and
development, health and safety.
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As it is discussed the individual role of the business functions is that it is very important
for the company to maintain every task work properly on the right time. The department such as
marketing, finance, human resource and production help each other in order to achieve the
objectives of Marks and Spencer. The marketing function is helping in to analyse the market
trends to attract customers where the finance function is performing best to analyse the budget
and according to that marketing strategies can be performed. The human resource function is
helping in keeping the efficient workforce according to the skills required in the company and
the same production function will be making ensure to adopt the new designs and new
techniques of producing the products in order to create the brand value and serve best to its
customers(Kim, 2019).
CONCLUSION
From the above discussion it can be concluded that there are various types of business
functions and every function has different role to perform for the business enterprise. All the
functions are interrelated and perform together in order to increase the sales and generate more
revenue for the company and its operations can run smoothly to meet the objectives efficiently
to be a successful brand in the market.
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REFERENCES
Books and Journals
Clauss, T., 2017. Measuring business model innovation: conceptualization, scale development,
and proof of performance. R&d Management.47(3). pp.385-403.
Kim, O., 2019. The Development and Challenges of Russian Corporate Governance I: The Roles
and Functions of Boards of Directors. Ibidem Verlag.
Kumar, V.,and et.al., 2019. Understanding the role of artificial intelligence in personalized
engagement marketing. California Management Review. 61(4). pp.135-155.
Markwick, S., 2019. The evolution of tax functions will accelerate in 2020. International Tax
Review.
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