Importance of Different Business Functions

This report discusses the importance of different business functions in an organization, using John Lewis Partnership as an example. The functions include production, marketing, finance, human resources, information, and innovation.

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Table of Contents
Importance of different business functions......................................................................................1
Production function:.....................................................................................................................1
Marketing Functions:...................................................................................................................1
Financial function:.......................................................................................................................1
Human Resource Function:..........................................................................................................1
Information Function:..................................................................................................................1
Innovation:...................................................................................................................................2
References........................................................................................................................................3

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Importance of different business functions
There are many business functions in an organization to maintain all the operations and services
of organization. John Lewis Partnership (JLP) is a huge company in UK. It operates john Lewis
& Partners department stores and Waitrose & Partners supermarket. All employees are partners
in this company. It is a third largest company in UK as per the Sunday Times for 2016
(Anderson, et al., 2009). It is having six main business functions, which are as:
Production function: John Lewis Partnership is having different services for their
customers, such as sale services, customers services, etc. These services are attracting customers
in their supermarket. They are trying their best to satisfy their customers from their services
(Shenkar, et al., 2014). They perform all services at the minimum cost for more profitability.
There are many business processes, which are based on the business functions (KISSFLOW,
2018).
Marketing Functions: Marketing is the process to provide knowledge about the products and
services to their customers. John Lewis Partnership is having best strategy for marketing. They
use many things to publishing their products and services, such as social media, news,
newspapers, and many others. Marketing function is based on the 4P’s, which are product,
physical distribution, promotion, and pricing (Obeidat, et al., 2015).
Financial function: it is responsible for three functions, which are investment decisions,
financial decisions, and dividend decisions. Major stakeholders are having responsibility to
manage financial decisions (Rossouw & Vuuren, 2017).
Human Resource Function: John Lewis Partnership is mange all the things properly. They
are having skilled employees and all employees are responsible for their responsibilities.
Therefore, it is a common responsibility to all the employees. They are work hard with their
skills (S, 2019).
Information Function: it is an equal function as others. In present era, all the things are
manage by the information system. Data mining and warehousing is a main thing to manage all
the process of the John Lewis Partnership. Information functions are having three basic

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functions, which are information function, operation function, and public relations functions
(Tiwari, 2012).
Innovation:
It is the most important function of the company. It is the implementation of a new services and
products in market by the organization. John Lewis Partnership is having a research and
development department, which provides different services to change the operations and
functions of the company. Innovations are most important part of the organization. It is increases
productivity and revenue of organization. John Lewis Partnership is having new services for their
customers.it is a necessary function to an organisation as all the things has based on the
innovations (Chesbrough, 2010).
Many companies are having their business based on the innovations, such as technological
companies. Innovation is a function that provides positive things to the organization. John Lewis
Partnership is always providing new things to their customers. They setup new services to
deliver item to customers. Customers are happy with the services of the John Lewis Partnership.
It is a way to attract the customers from different new services. It is a way to increase the
customer’s visit in supermarkets.

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References
Anderson, J. C., Narus, J. A. & Narayandas, D., 2009. Business market management:
Understanding, creating, and delivering value.. 1 ed. London: Pearson Prentice Hall.
Chesbrough, H., 2010. Business model innovation: opportunities and barriers. Long range
planning, 42(2-3), pp. 354-363.
KISSFLOW, 2018. Business Processes – Definition, Steps and Key Attributes. [Online]
Available at: https://kissflow.com/bpm/business-process/
[Accessed 10 February 2019].
Obeidat, M., North, M., Richardson, R. & Rattanak, I., 2015. Business intelligence technology,
applications, and trends. International Management Review, 11(2), pp. 47-56.
Rossouw, D. & Vuuren, L. V., 2017. Business ethics.. London: Oxford University Press..
S, D., 2019. Business Functions: 7 Main Types of Business Function. [Online]
Available at: http://www.businessmanagementideas.com/business/functions-business/business-
functions-7-main-types-of-business-function/3744
[Accessed 20 March 2019].
Shenkar, O., Luo, Y. & Chi, T., 2014. International business. London: Routledge.
Tiwari, A., 2012. 6 Most Important Functions of Business. [Online]
Available at: http://www.preservearticles.com/2013080233312/6-most-important-functions-of-
business.html
[Accessed 20 March 2019].