Importance of Business Functions and Skills for Undergraduate Students

This report discusses the importance of different business functions and their interrelation, as well as the necessary skills and techniques for undergraduate students to be successful.

Business report

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Importance of different business functions and there interrelation ............................................1
Skills and techniques that are necessary to be a successful undergraduate student....................2
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
There are different business functions that plays an important role for organisations.
Report will include importance of different business functions and there interrelation and finally
report will include different skills and techniques that are necessary to be a successful
undergraduate student(Castellacci and et.al., 2016).
Importance of different business functions and there interrelation
There are different business functions like Marketing, Finance, Operations and Human
resource. All the business function link together for running the business effectively. The
interrelation of these business functions are follows:-
Marketing and Human resources:- The main function of marketing is to do research and
produce a market plan that includes advertising, promotions, building public relations. On the
other hand role of Human resource is to select and recruit the right candidate and accordingly
engage them with respect to different business functions(Wirtz and Lovelock, 2016). Both these
business functions have linked to each other as human resource take help of marketing in order
to advertise the job vacancy so that they can hire the right candidate. They also depend on
marketing for building effective reputation of brand in market. On the other hand to have
different promotional activities, human resource higher skilled candidate.
Finance and operations:- The major role played by finance is to plan for the business
expenditure and manage the respective funds. On the other hand, operations leads to creation of
goods and services with effective planning and organising resources(Hoffman and County,
2018). They both have interrelation with each other as Finance helps the operation of business by
providing funds and this helps the operations to have resources in hand. On the other side, there
are many operations with the help of which budget can be easily allocated and different
strategies can be implemented to have huge funds in hand. In this way both the functions are link
to each other.
Finance and human resource:- Finance and human resource are interrelated to each other as to
have recruitment and selection process Human resource takes help of Finance in order to have
funds in hand so that the process can be implemented effectively. On the other side, Human
resource helps finance by hiring skilled financial adviser that can take better financial decisions.
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Skills and techniques that are necessary to be a successful undergraduate student
In order to be a successful undergraduate student necessary skills and techniques are as
following:-
Essay writing:- It is very important to have essay writing skills as written skills are very
important and helps the student to communicate their respective message with clarity and slowly
develops the students' face to face communication capability(Alexander, 2018).
Reading skills:- It is very important to develop reading ability as it develops students mind and
the language skill also develops gradually. It also builds learning capability of students and new
ideas and thought develops.
Presentation skills:- It is very important for the students to develop presentation skills as it
develops confidence and makes the people listen and bring optimal audibility.
CONCLUSION
From the above report it is been concluded that the different business functions are
having interrelation with each other and it is very important for undergraduate students to
develop an effective skills and techniques.
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REFERENCES
Books and Journals
Alexander, M., 2018. Challenges to Developing Professional Skills in Undergraduate Chemical
Engineers at a Minority Serving University.
Castellacci, F. and et.al., 2016. How Does Innovation Differ across Business Functions?
Employee-level Analysis of a Multinational Company (No. 20160321). Centre for
Technology, Innovation and Culture, University of Oslo.
Hoffman, S. and County, J., 2018. The Power of Partnership: How Finance and Operations Can
Become One Team. Proceedings of the Water Environment Federation. 2018(1). pp.70-73.
Wirtz, J. and Lovelock, C., 2016. Services marketing. World Scientific Publishing Company.
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