Significance of Different Business Functions Working Together

This study assesses the significance of different business functions while these all functions work together. Finance, marketing, operations, and human resources are interrelated with each other in an efficient manner.

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Table of Contents
Introduction 3
Main Body 3
Conclusion 5
References 6

Introduction
In business, different functions are performed in order to ensure future growth. These
functions are imperative so that a business can grow and succeed. Main aim of the present study
is to assess the significance of different business functions while these all functions work
together.
Main Body
Business is a commercial activity which is performed to earn potential amount of revenue
and profit. In this context, different business functions and their significance is briefly explained
below:
Finance and Marketing: Finance is an essential function which is related to procure,
allocate and control the funds to meet with the business requirement efficiently. For this purpose,
finance manger prepares financial statements in order to assess the requirement of funds in
business. On other side, marketing is related to promotion and advertisement of products or
services. Here, marketing department is the major source of revenue for the entire business entity
(Cagle, Yılmaz and Doğru, 2020). Finance department provide funds marketing division so that
they can promote the products or services efficiently whereas marketing department is
responsible to drive revenue in business by promoting products or services in an efficient
manner.
Marketing and Human resources: Human resource is a crucial business function wherein
efficient and skilled employees are recruited in the organization to perform different business
activities. In addition, Human resource division also performs activities such as training &
development, motivation and more. Marketing people promote the vacant position in business
and help the HR division in creating a pool of efficient candidates. On other side, HR department
also hire potential candidates for marketing department and also arrange training and
development session for employees of the respective division. Hence, there is crucial
interrelation between both of the departments (Vyakina, 2019).

Operations and Human resource department: Operation department performs daily
activities which are required to operate business efficiently. Here, ample of activities are
performed so that the organization can attain success in future period of time. Operation
department is one of the crucial departments of business. Operation department helps HR
department in performing daily operation efficiently whereas HR people hire qualified
candidates for operation division. They first evaluate the potential of candidates and then select a
suitable and proficient person who can perform assign work in best possible way (Dodgson,
2018). Additionally, HR people also play an important role in keeping employees motivated and
inspired so that they work with full potential for future success and betterment.
With above discussion, it is found that there are ample of function performed in business
such as finance, marketing, operations etc. These all functions are interrelated with each-other
and play a significant role in attainment of business goals and objectives.

Conclusion
Through above discussion, it is summarized that there are numerous business functions
are performed for success of an organization. It is concluded that the business functions such as
finance, marketing, operation and more are interrelated with each-other in an efficient manner.

References
Books and journals
Cagle, M.N., Yılmaz, K. and Doğru, H., 2020. Digitalization of business functions under
Industry 4.0. In Digital Business Strategies in Blockchain Ecosystems (pp. 105-132).
Springer, Cham.
Dodgson, M., 2018. Technological collaboration in industry: strategy, policy and
internationalization in innovation. Routledge.
Vyakina, I., 2019. Security of business operations and supervisory functions of the state as
characteristics of the business environment. Journal of Advanced Research in Law and
Economics (JARLE), 10(44), pp.1696-1705.