Marks & Spencer: Role and Importance of Business Functions Report

This report examines the role and importance of key business functions—marketing, finance, operations, and human resources—within Marks & Spencer (M&S), a multinational British retailer. The marketing function is crucial for promoting products and building customer loyalty through various communication channels. Finance ensures effective cost management and predicts financial scenarios affecting the business. Operations focuses on delivering high-quality products that meet customer expectations, while human resources manages workforce effectively through recruitment, training, and development. The report concludes that these functions are essential for maintaining a competitive business environment, achieving organizational goals, and providing better opportunities for industry advancement.

Graduate Challenge
CW1 Business Report

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
1.) Discuss the role and importance of various business functions.............................................3
....................................................................................................................................................4
CONCLUSION ...............................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Business function refers to a collection of activities that can be managed by department
of organisation(Clark, 2018). In this essay choosen firm is Marks & Spencer. It is a multinational
british retailer company that providing apparel, home and food products and its headquartered in
London, England, UK. This report is considers the role and importance of the company in terms
of Marketing, Finance, Operation and Human Resource.
MAIN BODY
1.) Discuss the role and importance of various business functions.
 Marketing: It refers to demand process of purchasing and selling of products or services.
As it involves promoting, delivering, advertising the products from producer to its user.
It plays a very crucial role in Marks & Spencer by choosing a systematic startegy that
provide a memorandum to its customers by the help of all modes of communication that
is print media, advertising campaign, TV ads. This can help in builds customer trust and
loyalty in terms of brand images which can create an impact on business decisions. This
function is very important for business. The importance of this function is to identify the
affected area ang helps to generate new plans for enhancing product image in mindset of
consumer.
 Finance: It is a term which can manage all the monetary transaction within the business
such as budgeting, cash flows, investment etc., any many other financial functions(Varma
and Dutta, 2021). The role of finance in Marks & Spencer is to assure a sources of funds
that can offered the flexibility and effective cost for analyzing business sales. And
importance is to make prediction of coming scenerio that affects business financially and
maintain a systematic plan to cope up with this, furthermore help to generate revenue.
 Operation: It refers to an activity that can handle the internal working of organisation.
So that it can run in a smooth or effective way. This function plays a very important role
in Marks & Spencer by providing and delivering highest quality of products alongwith
the required quantity that can demand by its customer. Its importance is to assure that
company items meet with the customer expectation and finding that area where quality
can be upgrade.

 Human Resource: It defines a set of people that can manage workforce of the business
such as recruiting, selecting, training and developing of suitable candidate who can
complete the assigned task in efficient manner(Yulianto, Sudirman and Setiawan, 2021).
Marks & Spencer plays a key role by improving the strategies for screening, training and
developing its staff. It can make a plan for its current rivals by using labour market
strategies. The importance of thi function in this industries is to enhancing the
effectiveness and an employee contribution for accomplishing the desired objective of
organisation.
CONCLUSION
From the above report it is conclude that organisation function is the main part of the
organisation. It generally involves various factors, some of them are already discuss. This can
help in maintaing the business situation within the marketplace and also defining the company
procedure to achieving goals of the organisation effectively and efficiently and provide better
opportunities for industry.

REFERENCES
Books and Journals
Clark, G.L., 2018. The culture of finance. In The Routledge Companion to the Geography of
International Business (pp. 543-563). Routledge.
Varma, D. and Dutta, P., 2021. Empowering human resource functions with data-driven
decision-making in start-ups: a narrative inquiry approach. International Journal of
Organizational Analysis.
Yulianto, E., Sudirman, I. and Setiawan, A., 2021. Developing a Conceptual Model of
Implementation of Business Functions Integration in the Internal Business Process
Performance. Asia Proceedings of Social Sciences. 8(2). pp.73-78.