Unilever Business Functions and Financial Management Report

This report provides an in-depth analysis of Unilever's business operations, focusing on the roles of various functions, collaborative working practices, and financial management. The report begins with an introduction to the importance of understanding business operations for market success, highlighting Unilever as a case study. The main body delves into the responsibilities of different departments, including marketing, human resources, and finance, emphasizing their interconnectedness and contribution to overall organizational goals. It then explores the advantages of collaborative working practices, particularly within Unilever, and the importance of effective decision-making and employee satisfaction. The report further examines the crucial roles of financial management in controlling costs, generating revenue, and ensuring transparency with shareholders. The conclusion emphasizes the significance of maintaining internal strengths, fostering a healthy work environment, and adapting to market competition to achieve long-term success. The report draws upon various academic sources to support its findings.

INTRODUCTION TO
BUSINESS STUDIES

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Roles of different functions.........................................................................................................3
Understanding the collaborative working practices....................................................................4
Roles of financial management...................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
It is very essential for the businesses to understand the functioning and the operations so
that there is a better functioning of the business in the market. The organizations running in the
market must have a balance of the external and internal factors so that the organization can have
high productivity and the demands can be met on time. Unilever is a United Kingdom
organization which is having its headquarters in London. This organization has been functioning
from 90 years and has expanded in a lot of other fields as well. The report would consist of
different roles of functions, collaborative working and role of financial management in business.
MAIN BODY
Roles of different functions
All the departments in an organization have a lot of responsibilities and a huge role so
that the organization can get the best results overall. There has to be a bond and professional
relationship between all the departments so that the organization can have a healthy environment
for the employees to function within (Gooris and Peeters, 2016). The organization will find it
easier to get a competitive advantage and function smoothly in the market which is good for the
reputation in the market. The competition is increasing which is why it is very important for the
organization to be able to balance the internal environment so that the productivity and the
operations of the company can increase which is going to help the organization to have higher
profit margins.
 Marketing
Unilever has been able to make a place for them in the market effectively and efficiently in
the market because they have an experienced and skilled marketing department which has been
appointed in the company (Buckley, 2016). There has to be a deep understand of the needs of the
customers in the organization so that the changes which are coming in the trends and demands
can also be matched by Unilever on time. The company has been able to expand themselves
successfully in other brands and products as well because they have a strong marketing team.
The products of Unilever are Cornetto, Magnum, Twister, Fat Frog, etc so that the demands and
expectations of the customers can be matched.
 Human Resource

This department helps the organization to keep their reputation in the market maintained by
getting in the right employees who can match the expectations and standards of the organization.
There is training and development of the employees from time to time so that the employees can
give their best in the organization (Jackson and Deeg, 2019). There are rewards, wages,
privileges, incentives and other methods which are being used by the human resource department
of Unilever from time to time so that they can make the employees motivated to fulfill the
demands of the customers. The customers’ demands are increasing which is why it is very
important for this department to do this which is going to help Unilever to get a competitive
advantage.
 Finance
The finance team of Unilever is understand with one another which is why they are being
able to control the cash flow which is taking place in the company. The revenue generation of the
organization is high which is why the company has to have an experienced and skill workforce in
this department so that there are lesser risks in this organization which is going to help the
company to have a better functioning (Busco and Quattrone, 2018). There are budgets which are
set by the finance department for the set of the other departments so that the planning of the
organization can be effective and all the other departments have to understand and bond with this
department so that there is a better functioning of the operations in the organization.
Understanding the collaborative working practices
The use of collaborative working in any organization which is functioning in the market
is going to receive a lot of advantage which is good for the long run of the business. Unilever has
been in the industry from 90 years which is why they understand the importance of this factor.
There are a lot of changes which are happening in the industry which have to be controlled so
that there is a higher sale in the organization (Möller and Halinen, 2017). There have to be taken
the right decisions for the organization which needs to be taken by the business so that there are
better promotions which can be done for the products of the organization. There have to be goals
and objectives which have to be set only then the organization will be able to function but using
this collaborative practice there are a lot of conflicts and confusions which can come up.
Therefore it is very important for the management and the leader that the right measures and
decisions are being taken for the better functioning of the business.

There is a lot of brainstorming which is done in a collaborative practice because that can
make the organization have more innovative and creative ideas. This is going to give a unique
factor for the organization which is a great competitive advantage. Employees are the backbone
of Unilever which is why they have to be taken care of by the management and satisfaction level
of the employees has to be high (Tulung and Ramdani, 2016). This is going to make the
productivity and the standards of the organization increase so that the organization can have
higher profit margins. There are loyal customers which the organization has gathered for them in
the market which is going to make the organization get a better advantage in the market. The
decisions have to be taken after considering all the opinions of the organization so that there is a
better functioning. All the employees should take part actively in decision making so that there is
a better revenue generation which is good for the organizations long run.
Roles of financial management
The roles of financial management in Unilever are high which needs to be understood so
that there is a better functioning. There has to be a control on the pricing of the products so that
the company can have a better functioning. The sales department comes understand this
department and they have to calculate prices of the products, costing, and other important factors
related to the organizations financial aspect. There are a lot of recommendations which are the
finance department has to give to the management so that there is a better functioning of the
organization and the right strategies can be followed as well in Unilever. The cash glow in the
organization is very high which needs to be maintained and invested in the right place which will
be beneficial for the organizations long run in the market. There is a better direction which is
given in the organization so that there is a sense of motivation and the satisfaction of the
customers and the employees working in the organization (Kharadze and et.al., 2019). The
shareholders also have to be satisfied with the organization which is why the financial
management has to report to the shareholders from time to time so that there is a transparency in
the organization.
Experience is making the organization have a high productivity and giving the company
an advantage to functioning in the market. The competition is also increasing which is why the
control on the right investment and strategies in the organization is going to be very beneficial
for a long run in the market of Unilever. Finance management is providing a lot of budget to

marketing department of the organization so that the promotions can take place in the
organization. The major competitor of Unilever is P&G which is taking the market share of the
organization which is why there have to be less errors in the company so that they can have a
strong functioning and operations for themselves. The profit has to be distributed in the
shareholders and the employees effectively so that there is a trust in the organization. It is very
important for Unilever to have a strong internal environment so that they can understand the
competition and maintain their customer’s loyalty as well (Adekola and Sergi, 2016). The
demands of the customers have to be met only then the organization will be able to have a strong
brand image and well maintained functioning for them. The experience in the finance team is
high which is why Unilever is having a strong functioning for them.
CONCLUSION
From the above report it can be concluded that the organization must maintain their
strengths and opportunities in the market by having a healthy environment for the employees to
function within so that there is a better achievement of goals. A healthy environment gets in a
sense of direction because the employees will be able to understand each other. This is a great
factor for the organization because there is going to be a better understanding leading to higher
profit margins and brand reputation in the market.

REFERENCES
Books and Journals
Adekola, A. and Sergi, B.S., 2016. Global business management: A cross-cultural perspective.
Routledge.
Buckley, P.J., 2016. The contribution of internalisation theory to international business: New
realities and unanswered questions. Journal of World Business. 51(1). pp.74-82.
Busco, C. and Quattrone, P., 2018. Performing business and social innovation through
accounting inscriptions: An introduction. Accounting, Organizations and Society. 67.
pp.15-19.
Gooris, J. and Peeters, C., 2016. Fragmenting global business processes: A protection for
proprietary information. Journal of International Business Studies. 47(5). pp.535-562.
Jackson, G. and Deeg, R., 2019. Comparing capitalisms and taking institutional context
seriously. Journal of International Business Studies. 50(1). pp.4-19.
Kharadze, N and et.al., 2019, January. General trends of business career management. In 17th
International Conference on Social Sciences Murcia. 8-9 March 2019 (p. 253).
Möller, K. and Halinen, A., 2017. Managing business and innovation networks—From strategic
nets to business fields and ecosystems. Industrial Marketing Management. 67. pp.5-22.
Tulung, J.E. and Ramdani, D., 2016. The influence of top management team characteristics on
BPD performance. International Research Journal of Business Studies. 8(3). pp.155-
166.