Importance of Business Functions in an Organization

Business Report

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Critically examine the business functions and its importance:..............................................3
Importance of different business functions............................................................................4
CONCLUSION................................................................................................................................4
REFERENCE...................................................................................................................................5

INTRODUCTION
Business report is essential for an organisation so it can be maintaining by company in
order to provide important function which is related to a business (Abdullahi, 2019). The report
is about a various function of business which is performed in order to increasing effectiveness of
organisation.
TASK 1
Critically examine the business functions and its importance:
There are many functions of organisation which are important to discuss below:
Marketing-: Marketing is an important function for any organisation. Without marketing
for an organisation cannot achieve an objective (Hung, 2017). If it is critically analysed, then it
can be said that marketing department of a company promotes products in rightful ways then it
may help them in sustaining within the market for a longer period of time. On the other hand, it's
negative impact can be understood with a good example of Green Washing where if any
company promotes a product in an unethical manner, then it is may be possible that government
can cancel their license as well to perform business operations.
Finance-: Finance is major pillar without that company cannot set objective and goal. It
includes various factor which help company to achieve an objective of company. On that basis it
is critically analysed that this function helps to prepare budget for other department of
organisation so also it easily measures the cost which incurred different business activity in order
to effectively conduct business functions. Apart of that, it also negative impact due to finance
department prepare budget but other department misuse and interrupted in these budget so affect
the profitability of company and sometime company have face hit due to incurred loss.
Human resource-: It is main function in order to provide training of employees (Quinn,
2020). It is critically analysed on the basis of these functions mainly providing training and
personal development programmes conducted for employees so it shows positive impact due to
improving performance and enhancing productivity of company. On the other hand, due to
negative impact when recruit candidate without follow proper selection process and not conduct
training sessions on timely manner so it affects profitability of company and they are inefficient
to grape opportunity at market place.