Comprehensive Report: Roles and Importance of Business Functions

This business report explores the core functions essential for an organization's smooth operation and overall success. It delves into the significance of production and manufacturing, emphasizing its role in delivering products and services aligned with customer needs. The report highlights the importance of marketing in attracting customers, designing effective advertising, and promoting sales. Human resource management is presented as crucial for managing employee performance and fostering a motivated workforce to achieve organizational goals. Furthermore, the report examines finance and accounting, underscoring their role in maintaining financial records, managing cash flow, and ensuring financial stability. The interdependencies between these functions are also discussed, illustrating how their combined efforts contribute to organizational effectiveness and goal attainment. The report uses examples and references to support its arguments.

BUSINESS REPORT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Business functions are processes or functions that ensures proper functioning of an
organization (Craig and Campbell, 2012). An organization has various business functions that
helps in organization in running smoothly. This essay will lay emphasis upon importance of
different business functions.
MAIN BODY
There are few main business functions and each of them plays a vital role in success of an
organization. Production, marketing, Human resource management, finance and accounting.
Each of them has their own importance within an organization. These functions help in
performing business requirement analysis in a proper manner. It also helps in management of
main resources of an organization in an efficient manner (Role of Business Functions, 2020).
Other than this they further help in completing main task or activities in a proper and appropriate
manner.
Production & manufacturng: it is one of the most important business functions of an
organization as in this department as this business function focuses upon production of products
and services as per the needs and requirements of their customers.
Marketing: It is an important business function because it helps in attracting a greater number of
customers so that they can buy products and services products and sold by company. Marketing
is important for an organization as this functional department helps in designing, advertising in a
proper manner.
Human resource management: It is important because it helps in effectively managing overall
performance of employees of an organization. This function effectively helps in managing
workforce, motivating employees so that they can give their best to achieve organizational goals
(Interdependent nature of business, 2020).
Finance and accounting: this function is important for an organization it helps in maintaining
and checking bills, check financial reports. This function is responsible for management of all
the financial task such as tax payment, employee salary and all other kind of cash inflow and
outflow.
All the above functions are interrelated to each other and their inter-relation on each other
increases their importance and helps an organization in achieving success in an effective manner.
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Finance & accounting, and marketing: If finance and marking department shows little or low
profit then due to this marketing function need to bring changes within their marking plans and
strategies. This interdependency of both the functions increases their importance for a company
in achieving success.
Production & manufacturing and human resource function: both the function or processes are
interrelated to each other because if production department require additional human force or
employees for management of increased production them human force department will be
organizing recruitment and selection (How business functions work together to achieve aims and
objectives, 2020). This interdependency of both the functions helps in management of production
and workforce in a proper manner. For example: in Tesco if they require an IT person who can
handle all kinds of system issues or errors so that production is not impacted then they directly
let HR managers know about their requirement of additional human force.
Production and finance: if production department need to increase their production or need to
order new machinery, they need approval of budget from finance business function.
CONCLUSION
From the above essay it is clear that there are five main business functions and each of
them are interrelated to each other. Each of these functions has its own importance and helps an
organization in running smoothly.
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REFERENCES
Books and Journals
Craig, T. and Campbell, D., 2012. Organisations and the business environment. Routledge.
Online
How business functions work together to achieve aims and objectives. 2020. [online]. Available
through:< https://www.bbc.co.uk/bitesize/guides/zdskkmn/revision/2 >
Interdependent nature of business. 2020. [online]. Available through:<
https://www.bbc.co.uk/bitesize/guides/z6sphbk/revision/1#:~:text=Interdependence
%20means%20that%20things%20depend,the%20business%20to%20operate
%20effectivel>
Role of Business Functions. 2020. [online]. Available through:< https://bizfluent.com/info-
8345380-business-functions.html>
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