Sainsbury's: Roles of Marketing, HR, and Finance Functions

This report provides an in-depth analysis of Sainsbury's, a major UK supermarket chain, focusing on the roles of key business functions such as marketing, human resources (HR), and finance. It describes the marketing function's role in meeting customer needs and facing competition, the HR function's responsibilities in maintaining a safe environment and handling compensation, and the finance function's role in acquiring and allocating funds. The report further explores collaborative working practices within Sainsbury's, highlighting how these practices foster innovative ideas, enhance employee productivity, and facilitate market expansion. Additionally, the report demonstrates knowledge of financial management, including financial reporting, and the tools used to manage financial activities and provide accurate financial information. The conclusion emphasizes the importance of these functions and practices for achieving organizational objectives and maintaining a competitive advantage.

Introduction to Business
Studies

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Describing role of marketing, finance along with HR functions within organisations...............1
Developing understanding of collaborative working practices...................................................3
Demonstration of knowledge of role of financial management as well as reporting within the
company.......................................................................................................................................4
CONCLUSION ..............................................................................................................................5
REFERENCES................................................................................................................................6
CONCLUSION................................................................................................................................7

INTRODUCTION
Business is defined as the institution that are involved in commercial, professional as well
as industrial activities. Business studies is part of studying elements that are involved in
company such as individuals, communities addition to enterprises (Geissdoerfer, Vladimirova
and Evans, 2018). With this concept, managers assess needs and problems so to generate
effective solutions. Sainsbury is the considered organisation for this report which is largest
supermarket chain that operate in UK. It was established in the year 1869 at Holborn, Unite
Kingdom. The report highlights role of various functions within organisations. It further
develops a brief understanding for collaborative working practices. At last, it demonstrates
knowledge for the role played by financial management as well as reporting within the
enterprise.
MAIN BODY
Describing role of marketing, finance along with HR functions within organisations
Organisation is mentioned to formation of authority relationships for combining and
coordinating work for achieving objectives (Gemünden, Lehner and Kock, 2018). There are
various departments that performs distinct functions for accomplishing objectives promptly. The
functions are named as Human resource, finance and marketing. The main functions played by
each at organisations are the followings:
Role of marketing function:
Marketing is a function that is concerned with identifying along with sourcing potential
products within the marketplace wherein key activities are performed for promotional aspects. In
present era, role played by marketing function at any company is difficult to ignore. Marketing is
defined to study along with managing exchange relationships. In addition, it is process of
business that aids in creating relationships for the purpose of meeting customer needs. In
association to Sainsbury, marketing function role are as follows:
Meeting customer wants: The one of important function of marketing within company
8is to meet wants of huge customers (Gimpel and et.al., 2018). For this, marketing helps in
identifying needs, choices, preferences and requirements of audiences so that effective products
are manufactured by other department that can lead in satisfying customer wants. For example,
marketing at Sainsbuy perform role of identifying needs and implementing strategies
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accordingly. The function influences wants and desires as these are generally shaped by cultural
along with individual personalities. Moreover, the needs are met by using exchange process.
Facing competition: The another role that is associated with marketing function is to
face the fierce competition. Considering today's international market, competitive orientation is
significant for the company (Heald, 2018). In regards to Sainsbury, marketing function plays
crucial role of maintaining balance among expectations of targetted population as well as product
offerings by other companies such as Tesco, Asda and Aldi through monitoring the entire market
closely and implementing strategies that helps in effectively facing competition from other
business concerns. To face competition, market function differentiate the selected entity through
using efficient dealership and superior services.
Roles of HR function
Human resource function is the other function that performs workings for handling
employees within company. It is majorly responsible for sourcing, hiring, training and many
more activities at workplace. The major role that are played by HR function in Sainsbury are the
following:
Maintaining safe environment: The HR function of the entity plays role of maintaining
safe environment at workplace of company (Heavin and Power, 2018). The HR function of
chosen retailer supports workplace safety and maintains mandated logs for any injury as well as
fatality reporting. In addition, HR function of Sainsbury performed its role by implementing
safety regulations so that employs are provided a safe work place to execute operations.
Handling compensation: HR function also have role to handle compensation and
ensures that all the manpower are paid on time and in accurate manner by making accurate
deductions. Moreover, HR function of the organisations manages all types of compensation
programs which comprises pensions, fringe benefits and many more.
Role of finance function
Finance function is concerned with planning, arranging and allocating funds within
business (Hussain and et.al., 2018). It majorly involves in acquisition and utilisation of monetary
aspects which are necessary for operational effectiveness. Following are few roles which
financial function plays are respective organisation:
Acquisition of funds: Financial function have key role of acquiring funds from various
sources ad further allocating them to different operations as per the requirements. In Sainsbury,
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financial function performs important role of acquiring required monetary resources that are
needed for operational purposes.
Meeting operational expenses: The other role in context to finance function is meeting
operational expenses. In all business, funds are required in various forms such as working capital
in order to meet operational expenses including interest payments, remunerative payments and so
on. So, at Sainsbury, finance function performs role of proper planning and maintaining cash
flows that leads in meeting all types of operational expenses.
Developing understanding of collaborative working practices
The term collaboration in organisation refers to a teamwork where two or more group of
individuals come together with an intent of accomplishing common goal within prescribed time
duration (Kuzubov and et.al., 2018). Along with this, collaborative working culture enable
establishment to improve the overall performance by acquiring innovative or novel ideas from
different kinds of employees. Due to this, it enhance the potentiality of establishment to place its
brand in a competent position among competitors in stipulated time limit. In regard of Sainsbury,
implementation of collaborative working practice impose increased level of benefits which are as
follows:
Innovative and creative ideas: With the collaborative working culture, it empower
Sainsbury to acquire different and novel ideas or content from various personnel which help
them in taking best decision against emerging and current market competition in a better way
(Annunziata and et.al., 2018). Moreover, it also assist firm to provide effective solution to all
managerial and employees issues by encouraging manpower to share their views regarding
conflicts that build healthy and long lasting relationship among employees in a better mode.
Enrich employee productivity: The aspect of collaborative working practice improves
Sainsbury personnel performance in an improved manner. This is because, it empower each
employees to participate in all major business activities and also motive them to express their
ideas or content related to specified goal. With the implication of such working culture, it aid
Sainsbury employees to enhance their productivity and can explore sales volume in an amended
way among rivalries.
Expand market division: Under this determinant, it states that collaborative work enable
Sainsbury to adopt different innovative or technological aspect within its business functions that
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lead them to enlarge its market share or size to several geographical boundaries. Moreover,
expansion in market division benefit organisation to attain sustainable growth in an effective
manner (Bidmon and Knab, 2018).
However, as per the analysis of different advantages that Sainsbury can acquire with the
practice of collaborative working culture, it motive them to take some actions to maintain its
working environment are mentioned below;
Clarity and transparency: The primal way that Sainsbury implies that they make an
effort to maintaining openness and transparency in their flow of communication channel. For
example, delivering all required information among team members, updating employees
regrading market challenges or threat, data about customer trend or demand many more. Due to
this effort, it help Sainsbury to avoid the factor of arising conflicts or miscommunications and
also can acquire high degree of collaboration and cooperation form workforce towards
organisational pre determined goal.
Recognise the accomplishment: In this, Sainsbury take an attempt to recognise each
employees effort or capability and based on that provide them equal or attractive rewards or
benefits. Apart from this, assign roles or responsibilities as per each personnels capabilities
which enhance employee engagement and help them to sustain with company for long term.
Demonstration of knowledge of role of financial management as well as reporting within the
company.
Financial management
The concept of financial management relates to those process which comprises planning,
organising, directing, and controlling the financial activities in terms of procurement and
utilisation of available funds (Freudenreich, Lüdeke and Schaltegger, 2019). Hence, in regard of
Sainsbury, the role of financial management plays a significant role as it help managers to make
financial decisions as well as assist them to control over finances of organisations. To govern and
ascertain the financial statement of company, Sainsbury also make use of various tools like ratio
analysis, financial forecasting, profit and loss analysis and etc. Apart from this, the function of
financial management also assist Sainsbury to make use of available resources and also allocate
them in proper place which drive establishment to explore its profit margin ratio in an efficient
way.
Financial reporting
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The concept of financial reporting is concerned with financial results which are released
to general public by the entity. It includes information about financial statements, annual reports
and so on (Masa’Deh and et.al., 2018). The essential function role that is performed by financial
reporting at Sainsbury is to provide accurate information related to financial performance
together with position of company which is used by wide population for devising economic
decisions. Moreover, other role is to provide accurate and relevant data at prompt time in
appropriate accounting format which assist investors along with other interested parties to use
relevant information.
CONCLUSION
It has been concluded from the above discussed report that an organisation encompasses
with different functional units like marketing, financing, operation and etc. who work towards
the achievement of company's common objective in a desired time period. Moreover,
collaborative working practice enable company to build healthy and better relationship among
employees as well as can improve the capability of firm in terms of gaining competitive
advantage among rivalries. Along with this, proper management of financial and reporting
aspects help establishment to enlarge its proficiency and productivity ratio in an innovative style.
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REFERENCES
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Journal of Supply Chain Management. 7(5). pp.621-631.
Mäkelä, L. and Kinnunen, U., 2018. International business travelers’ psychological well-being:
the role of supportive HR practices. The International Journal of Human Resource
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Masa’Deh, R. E and et.al., 2018. The impact of business intelligence systems on an
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CONCLUSION
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