Importance of Various Business Functions and Their Linkage

This report discusses the importance of various business functions and demonstrates how they are linked together. It explores the roles of production, marketing, finance, and human resource functions in achieving higher operational goals. The report emphasizes the need for coordination and collaboration among these functions to ensure the success of the organization.

Business report

Table of Contents
TASK...............................................................................................................................................3
Importance of various business functions and also demonstrate how they are linked together. 3
REFERENCES................................................................................................................................5

TASK
Importance of various business functions and also demonstrate how they are linked together.
Painter and et.al., (2019) sought to determine the fact that, business functions are referred
to as the activities because it in turn tends to carry out by an enterprise in order to carry out core
business activities of the specific organization. Business functions in turn are considered to be
very crucial for the accountability and productivity of the business in order to attain higher goals
and objectives. There are various range of business functions such as production, operations,
human resource, marketing and finance who in turn work together in order to attain higher
operational goals by working in a coordinated way. Elia, Massini and Narula, (2019) said that,
The key role of the production function within the business organization is associated with
creation of several ranges of goods and services by carrying out certain production process. They
ensure production of goods within specified quality sets and also deliver the goods within the
specified time required at minimum cost. On the other hand, Gaspar and et.al., (2016) argued
that, the key role of the marketing function is to attract the targeted customers to purchase certain
range of specific goods and services. Moreover, the finance function within the organization in
turn is highly responsible for taking key business decisions such as investment decision, dividend
decision and various other financial decision. They in turn tend to focus on making funds
available and make proper budget plan to carry out several business operations. Additionally,
Painter and et.al., (2019) investigated that, human resource function tends to manage people
within the organization by effectively recruiting to right person at the right place. This helps in
increasing the performance and effectiveness of the business which in turn helps in meeting
organizational goal. The operation function of the business in turn are mainly associated with
the core business activities which they tend to perform. Operation function in turn is considered
to be as the core substance of the entire business organization. This business function in turn is
very useful in determining what company tends to produce and also in turn provide the basis for
marketing. At the time of implementation of the specific marketing plan, the management of the
company in turn requires support from all the other departments of the organization such as
human resource, sales financial and production department. Painter and et.al., (2019) sought to
determine the fact that, the link between finance and marketing in turn is considered to be one of
the most important business function (6 Most Important Functions of Business, 2020). Finance
department in turn tends to focus on managing the funds and capital of the business. On the other

hand, marketing department in turn is highly responsible for effectively helping the company to
increase the profit of the company by engaging more customers to the business. This in turn
helps in effectively carrying several business operations in a systematic and accurate manner.

REFERENCES
Books and Journals
Elia, S., Massini, S. and Narula, R., 2019. Disintegration, modularity and entry mode choice:
Mirroring technical and organizational architectures in business functions
offshoring. Journal of Business Research.103. pp.417-431.
Gaspar, J and et.al., 2016. Introduction to global business: Understanding the international
environment & global business functions. Nelson Education.
Painter, M and et.al., 2019. Sharing vocabularies: Towards horizontal alignment of values-driven
business functions. Journal of Business Ethics.155(4). pp.965-979.
Online
6 Most Important Functions of Business. 2020. [Online]. Available
through:<http://www.preservearticles.com/business/6-most-important-functions-of-
business/30339>