Importance of Business Functions in Organizational Management

This report discusses the importance of different business functions in organizational management. It explores the functions of marketing, finance, operations, and human resources and highlights their interdependence. The report emphasizes the role of these functions in achieving organizational objectives.

Business Report

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION...............................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Business organisations are the important part of the market and customers needs
satisfaction. For business's man this is the source of success, profit and value by the fulfilment of
customers and market requirement (Macchi, Savino, and Roda, 2020). But in order to
accomplish all these objectives there are some business functions which has to be manage and
implement effectively. Proper implementation and combine functioning will give effective
result's. In this report different business's functions and there importance are going to be asses
and evaluate.
MAIN BODY
Marketing- This is the important function of business involves the promotion,
advertisement and product awareness in the market. Though which people get aware about the
new product's and competitive value. Organisation develop new customers and sale of the
product's to their existing customers by the help of this function. As it helps to reach huge
numbers of the consumers (Tavana, ed., 2017). Along with the product awareness marketing is
related to the market research which involve the analysis of customers needs and changing
trends. So with the help of this organisation can become able to plan meet competitive edges.
Finance- This is the important part of business without this organisation can not be run.
This function is involving acquiring and proper utilization of fund's for different functions
and assets of organisation. This involves the investment and safety decisions of money
for different function and assets of the company, though which organisation perform
their functions and achieve success.
Operation/production- This is the function which involves the performance of human
resources for production of goods and services. In other word's this function is can be consider in
to parts. Such as production is the making of goods and operation is cat of working. So the
combine function is important to develop goods and services which can be soled to customers in
exchange of money (Bulsara, and et. al., 2017).
Human resource's- This another important function of business which involves the HR
manager activities to allocate the appropriate workers or employees for the organisation
operational and production activities. This basically include job designing, recruitment,
selection, training, evaluation and motivation.

Importance
All these functions are important to be there at every organisation management system.
These functions have to be effectively manage with in the organisation combinationally . These
functions are important because they all are related to each other and effect the objectives of
organisation. Such as financial function helps effectively allocate the resources for other
function, then marketing in important to collect information for effective planing and for the
services awareness developed through which people can attract to buy product and services.
Operation and production function is important because it helps to produce the important assets
of business though which they earn profit. HRM is important because it helps to accomplish all
business activities and functions (Wagner, 2020).
CONCLUSION
From the above study it has been conclude marketing, finance, operation and human
resource's management are the key function of business's. Marketing is the function involve
market study for effective business plan and services promotion. Finance department is the
functional area which involves the proper allocation of the money for different assets of
organisation, along with this it involves the management of employment cost and profit shares.
Operation/ production function involve the different activities and task for the production and
serving of the product and services. HRM is the function which involve the recruitment and
allocation of the skilled employees for accomplishment of operational task. All these functions
are interdependent and their combine effective performance will result as the appropriate
achievement according to the selective business's plan.

REFERENCES
Books and journals
Macchi, M., Savino, M. and Roda, I., 2020. Analysing the support of sustainability within the
manufacturing strategy through multiple perspectives of different business
functions. Journal of Cleaner Production, 258, p.120771.
Tavana, M. ed., 2017. Enterprise Information Systems and the Digitalization of Business
Functions. IGI Global.
Bulsara, H.P., and et. al., 2017. Exploring green business functions and green brand equity:
proposition of a conceptual framework. International Journal of Qualitative Research in
Services, 2(4), pp.262-279.
Wagner, S.M., 2020. Business and Environmental Sustainability: Foundations, Challenges and
Corporate Functions. Routledge.