Significance of Different Business Functions Working Together

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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).