MG408: Business Functions & Organizational Success Report

This report provides an overview of key business functions, including marketing, finance, production, and human resources, and their respective roles within an organization. The report emphasizes the significance of each function, highlighting how marketing focuses on product and service delivery, finance manages financial decisions, production designs products, and human resources handle staffing. It also discusses the importance of these functions working collaboratively, using examples like Apple and Tesco to illustrate how integrated efforts drive business success. The report concludes by reiterating the critical role of these functions in promoting growth and implementing effective business strategies. The report is based on academic sources and includes Harvard referencing.

Business function role.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................3
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
Business function and roles.........................................................................................................4
Importance of business functions for working together..............................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

EXECUTIVE SUMMARY
The present report had been covers an importance of various business functions with
examples of different marketing functions like production, finance, marketing and human
resource department. Those departments had been played an important role in business by
creating various strategies for business. Those departments has working together in Apple
company for designing best design of IPHONE by adding new features.

INTRODUCTION
Business functions are effective activities carried out by an enterprise which can be
divided into core functions and support functions within the workplace. The present report will
cover an importance of different business functions such as marketing, production, finance and
human resource. Those are very important functions within the business.
MAIN BODY
Business function and roles.
A business functions defines as a set of activities which is performed by the departments
which is initiated by an event, transform information and material for businesses. There are main
4 types of business functions which are marketing, finance, production and human resource those
are very important business functions within the company.
Marketing:
Marketing is the process of getting product and service into the hand of customers in
proper manner with the view to satisfying the needs of customers. This function is plays an
important role in organization (Boz, Durdu and Li, 2015). This help to company to promote their
product and services at marketplace in effective manner by creating more effective. For example:
Retail sector company like Tesco have great marketing department, through which consumers
are brought products from company.
Finance:
The finance department is the another important marketing function which is allocated
finance to departments and pay company expenses in proper manner. This department make
decision for investment and every financial decisions for company. For example: Tesco is the
most successful company which have best finance team who take every and better financial
decision for success of company (Hunter, Saunders and Constance, 2016). This also taking care
of other concerns such as share buybacks in proper manner by creating more success.
Productions:
Production is other important department of company which design more suitable design
of products to attract more customers towards company. This department plays an important role
in company to design products. For example: Apple company is the best example of production
department because company have eligible production team who creates various attractive
designs of IPHONE by adding some new features.

Human resource:
Human resource department is most important function within the business because
through that company have great pool of eligible candidates within the company. This is most
important and effective for business (Kasemsap, 2016). This plays an important role in Apple
company in order to hire and fire candidates for success of company in effective manner.
Importance of business functions for working together.
Those departments have to be working together for more growth at workplace in
effective manner. This is very important for success of company to work with together within the
company. For example: Apple is highly successful company in the current world, which is the
great example of innovation in company. Company's human resource and production department
have to work together for more growth because HR team help to hire team for production
department in order to design properly (Mahmoud and et.al., 2016). Through that production
department have great team which is design properly. With the help of working together
production have great team and make efforts for achieving goals and objectives of company.
CONCLUSION
From the above study, it had been concluded that the business functions has played a very
important role in business for its growth factors. Those helped to make the best strategy to
promote product and services at market place.

REFERENCES
Books and Journals
Boz, E., Durdu, C. B. and Li, N., 2015. Emerging market business cycles: the role of labor
market frictions. Journal of Money, Credit and Banking. 47(1). pp.31-72.
Hunter, I., Saunders, J. and Constance, S., 2016. HR business partners. Routledge.
Kasemsap, K., 2016. The role of strategic outsourcing in global business. In Handbook of
research on managerial strategies for achieving optimal performance in industrial
processes (pp. 325-357). IGI Global.
Mahmoud, M. A. and et.al., 2016. Market orientation, learning orientation and business
performance: The mediating role of innovation. International Journal of Bank
Marketing. 34(5). pp.623-648.