Importance of Business Functions and Academic Skills in an Organisation

This report discusses the importance of different business functions such as marketing, HR, finance, production, and academic skills for students in an organisation.

CW1 Business report

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION................................................................................................................................4
REFRENCES...................................................................................................................................5

INTRODUCTION
Business report refers to collection of data analyses and helps in making relevant
information which is easily accessible to company (Charikov, 2020). There are different function
of business which helps in managing all the activities in an organisation. Business function like,
marketing, HR, finance, production etc., helps in achieving goals and objectives of company.
MAIN BODY
Business functions refer to different activities which is beneficial for an organisation in
accomplishing goals and objectives. There are some functions of business which support
activities in an enterprise and make better plans to accomplish targets. In an organisation there
are different business function such as, marketing, HR, production, finance and accounting,
research and development, purchasing. These are important business function which helps in
managing all the activities in company and make plans for completing work on time. All the
functions are linked with each other and work together so that targets of company can be
accomplished (Muñoz-Izquierdo, Segovia-Vargas and Pascual-Ezama, 2019). Business function
provides framework to organisation to work efficiently and focus on achieving goals and
objectives.
HR department manages all the activities like, recruiting employees, organising training and
development session, deciding payroll of workers. Marketing department is responsible for
promotion of product and attracting people so that more revenue can be generated. Finance
manager is handling arrangement of funds and make budgets so that work can be completed
properly. Business function is important because it improves efficiency, reduces expenses,
improves performance of employees. All the business functions are working together and it helps
in achieving targets of company. Finance department is managing funds and make plans as per
the need of company so that need of all department can be satisfied and firm can earn profit. It is
essential to make proper budgets and divide funds so that estimated profit can be determined.
There are different skills which a student should have so that they can get better job
opportunities in future. Academic skills is one of the important skill which a student should have
because it helps in encouraging students to become more efficient learners (Mason and et.al.,
2017). It helps in boosting confidence of students to learn more things and develop skills which
is beneficial. Academic skills refer to talent such as, learning research, presentation and report

writing. It is essential to have academic skills because it is required at the workplace. Academic
skills includes, analysis, communication, studying, technical skills, planning, social. These skills
help in achieving targets of company and students get good opportunities in future. The most
important academic skill which a student should have is research skill. This helps in gathering
more information and better plans can be made for achieving goals and objectives of company.
CONCLUSION
From the above discussion it can be concluded that, business report helps in analysing data
and relevant information is gathered. There are different business functions such as, marketing,
human resource, finance and accounting, production which helps in achieving target of company
has been discussed. Further, importance of different business function in an organisation has
been described. Importance of academic skill for student has been discussed.

REFRENCES
Books and Journals
Muñoz-Izquierdo, N., Segovia-Vargas, M. J. and Pascual-Ezama, D., 2019. Explaining the
causes of business failure using audit report disclosures. Journal of Business
Research, 98, pp.403-414.
Charikov, P. N., 2020. Methodology of creation and application of business process management
model based on organization information space in an organization. In IOP Conference
Series: Materials Science and Engineering (Vol. 734, No. 1, p. 012122). IOP
Publishing.
Mason, B. A., and et.al., 2017. Conflict, closeness, and academic skills: A longitudinal
examination of the teacher–student relationship. School Psychology Review. 46(2).
pp.177-189.