Question

What key concerns must functional tactics address in marketing? finance? production/operations? R&D? and human resources. Discuss each of marketing, finance, production/operations, R&D and human resources individually.

Answer 1

Key Concerns in Marketing:

1.Effectively targeting high value sources of growth

2. The role of marketing in the firm

3. The digital transformation of the firm

4.Using analytics and intelligence for better marekting decision making

5. Competing in dynamic and global market

6.Innovation

Concerns in Finance:

1) Capital Budgeting

2) Use of discounting methods in financial calculations and forecast

3) Proactive financial reporting with proper audit

4) Short and long term financial planning

5) Risk mitigation strategy

Concerns in Operations:

1. Supply instability

2.Information and knowledge retention

3. Talent retention

4. Cost pressures

5. Optimization of tasks and cost

Concerns of R&D:

1. Problem or opportunity definition

2. Appropriate use of analytical tools for the research

3. Talent pool to carry R&D

4. Allignment with firm's vision and mission

Concerns of Human Resource:

1. Appropriate job description for resource pool

2. Right set of resources hired

3. Performance management and resource retention

4. Conflict management

5. Collective bargain