How Marketing Is Working With Finance To Shake Off The ‘Us Versus Them’ Attitude
Marketers have a role to play in helping the finance team better perceive the varied elements of promoting, such as the necessity to take a protracted-time period view on brand funding or consider every determination in relation to the customer. Taking the time to know how every division features from a holistic perspective is helping each advertising and finance get better at their jobs. “You discuss to anybody in the finance function and so they say ‘oh these advertising guys spend all the money and so they don’t think about the underside line’, which is clearly not true. UKTV CFO Tom Davidson acknowledges that while historically the advertising/finance relationship has tended to have a little bit of “healthy pressure”, he takes a unique method based mostly on belief and a shared strategic focus.
Finance is a multi-disciplinary area that mixes numerous ideas from administration, economics, and accounting with monetary techniques to make sound business decisions and remedy problems. There are many enterprise situations in both massive and small firms that require knowledge of the most recent financial practices and tools.
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