LO1: Business functional areas

Choose TWO (2) business functional area
Explain the roles and responsibilities
Provide example of their roles.You may use diagrams or images to support your answers.

Marketing

The marketing department has overall responsibility for growing revenue, increasing market share and contributing to company growth and profitability. In a small business, the marketing department may just be one person, or it may include a marketing director or manager plus marketing executives responsible for functions such as advertising, publications or events.

Example:

Smallbusiness.chron.com. (2017). Responsibilities of Marketing Department. [online] Available at: http://smallbusiness.chron.com/responsibilities-marketing-department-69931.html [Accessed 21 Jun. 2017].

Finance

Senior leaders of an organization are responsible for all aspects of its financial health. They are charged with understanding the unit's financial situation and not allowing unintended deficits to occur. They remain accountable for the resources entrusted to them, including funding, facilities and staffing, even if they have delegated budget and accounting responsibilities to their staff.

Example:

Finance.uw.edu. (2017). Financial Roles and Responsibilities | Finance. [online] Available at: https://finance.uw.edu/fmat/responsibilities [Accessed 21 Jun. 2017].