Role of Functions in Business Reports

This essay discusses the importance and roles of distinct business functions such as marketing, production, human resources, and finance in business reports.

Business Report

Contents
Contents...........................................................................................................................................1
INTRODUCTION...........................................................................................................................2
MAIN BODY..................................................................................................................................2
Role of functions..........................................................................................................................2
Importance of functions working together..................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4
1

INTRODUCTION
Business reports are evaluation of set of circumstances that are associated with business
performances (Bal and de Jong, 2017). The successful organisations taken to prepare the essay
are Aston Martin and Brakes Group. The essay includes importance and roles of distinct business
functions such as marketing, production, human resources and finance.
MAIN BODY
Role of functions
Business functions are said to activities which are performed routinely by an enterprise. These
comprises of high level businesses processes as well as capabilities which takes the business at
highest level. Some of the business functions are finance, operation, marketing along with human
resource. The role of production at Brakes Group are to transform resources into final
commodity, to meet defined time schedule as well as delivery dates, to perform other production
activities at minimum costs, to satisfy demand for transformed resources, to fulfil requirements
of quantity and to ensure optimum production of commodities in predetermined quantities. The
roles of marketing at Aston Martin are to collect as well as analyse market information, to plan
all promotional activities, to offer all the possible that help customers in satisfying their needs, to
fix product prices, to devise and implement effective marketing practices addition to strategies to
ensure survival and reputation (Chitty, D'Alessandro and Gray, 2019). Roles of finance at
selected organisations are to make budgets for other departments, to make important decisions
such as investment decision, dividend decisions, liquidity decisions and financing decisions, to
acquire together with utilise funds for efficient activities, to ensure safety of financial resources
and to make sure that money don’t remain inoperative within business. The purposes of human
resource at chosen entity are to execute planned strategies or procedures, to source and maintain
effective workforce, to address issues related to compliances, to coordinate administrative
functions, to devise workplace policies, to determine fair compensation, to manage
performances, to handle grievance procedures, to share information, to build suitable culture and
to devise promotional rules (Role of human resource. 2019)
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Importance of functions working together
All business functions are important at organisations so that their objectives are achieved
within set duration (O'brien, 2019). The importance of marketing at respective entities as it
helps in maintaining long lasting relationships with audiences, raising living standards of
community members and sourcing new ideas, generating employment opportunities, promoting
and making position in the competing market. Finance is important at Aston Martin together
with Brakes Group as it creates more profits by taking effective investment decision, meeting
operational needs that keep the business going further, managing cash flows for sustaining
liquidity and managing unavoidable risks (Importance of finance at organisations. 2019.
Production is important at entities so that business makes provision for employment,
increasing wealth, leading towards specialisation, adding values to products that companies
manufacture, to survive in competing market and converting raw materials towards valuable
final commodity. Human resource is important at respective firms in creating positive business
culture, improving productivity level, making best utilisation of nature through applying skills,
technology along with knowledge.
At organisations, when all the functions works together then they improves bottom line of
the entity and achieve success (Semieniuk and Mazzucato, 2019). All these functions are linked
with each other such as marketing function provide all relevant information to production
function about needs of customers and accordingly manufacturing of products is done by human
resources by staying in the budget as set by finance function.
CONCLUSION
From the above essay it has been concluded that business functions are categorized as
marketing, human resources, finance as well as production. All these perform their key roles so
that organisations sustain success by achieving set objectives. These functions are very important
at entities as they work in coordination with each other.
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REFERENCES
Books and Journals:
Bal, P. M. and de Jong, S.B., 2017. From human resource management to human dignity
development: A dignity perspective on HRM and the role of workplace democracy. In Dignity
and the Organization (pp. 173-195). Palgrave Macmillan, London.
Chitty, W., D'Alessandro, S. and Gray, D., 2019. Services marketing. Oxford University Press
Australia and New Zealand.
O'brien, J., 2019. Category management in purchasing: a strategic approach to maximize
business profitability. Kogan Page Publishers.
Semieniuk, G. and Mazzucato, M., 2019. Financing green growth. In Handbook on Green
Growth. Edward Elgar Publishing.
Online:
Role of human resource. 2019. [Online]. Available through:
<https://www.digitalhrtech.com/human-resources-roles/>
Importance of finance at organisations. 2019. [Online]. Available through: <
https://www.thesmallbusinesssite.co.za/2019/03/25/importance-finance-business-organizations/>
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