Question

Describe the role of HR, Marketing and finance functions within organizations

Answer 1

Role of HR (Human Resource)

1) Understand the organization's needs and goals and recruit employees to meet these

2) Provide learning and development opportunities to employees to upskill them

3) Manage and resolve conflicts amongst employees

4) Ensuring performance reviews are conducted timely

5) Provide a good work culture to employees

6) Manage employees' grievances

7) Continuously motivate employees to do better

Role of Marketing

1) Manage the organization’s brand

2) Do market research to gauge how the organization is viewed

3) Create content and Conduct campaigns to promote organization’s product and services

4) Manage the media and its queries

5) Produce newsletter for internal communication

Role of Finance

1) Prepare financial statements at regular intervals

2) Manage working capital requirements of the organization

3) Process payrolls accurately and timely

4) File taxes with the relevant authority

5) Ensure financial compliance as per regulators

6) Determine usage of funds for capital projects