Importance of Different Business Functions - A Study

The Graduate
Challenge

Table of Contents
INTRODUCTION ..........................................................................................................................1
MAIN BODY...................................................................................................................................1
Importance of different business functions............................................................................1
CONCLUSION................................................................................................................................2
REFERENCES ...............................................................................................................................3

INTRODUCTION
In this report paper there is a focus on various business functions that are crucial for an
business organisation. The roles of various functions in business such as accounting-finance,
productions or operations, marketing-sales and Human resource are elaborated. At the end
importance of these departments working together is explained.
MAIN BODY
Importance of different business functions
There are various functions that prevails in a business and plays crucial role in equitable
distribution of work and smooth flow of business activities. These functions are elaborated
below:
 Finance and Accounting: Finance is a base of support to every business and its
activities, it involves keeping record of monetary inflows and outflows(Irsyadiah, 2021).
Preparation of financial records and allocation of adequate funds in the activities of
TESCO are done by finance department. The finance mangers of this company keeps a
track of overall finance requirements of the business and maintains regularity of fund
inflow in business from shareholders, investors and other sources.
 Operations/Production: Production function involves series of continuous operations
that starts with acquiring of raw materials, processing them and furnishing final goods
and services. Production function acquires a crucial position in ASDA as it maintains
continuity in production of goods and services required in the market. The company
controls its production function through regular investments, incoming raw materials and
maintaining inventory of produced goods and services. Production managers should
focus in optimising production and reducing wasteful operations for getting maximum
cost benefits.
 Marketing and Sales: These two activities are cordially carried out by a single
department which involves promotion and selling of commodity and services through
market research and advertisements(Hansen and Prescott, 2021). The role of marketing
and sales department in DIAGEO is to promote its products by covering potential buyers,
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