Significance of Business Functions in Achieving Organizational Success

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Business Report
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Essay
Business is one of the economic activities that is concerned with marketing, finance,
operation/production and human resources management along with various other components
to achieve profit earning objective and satisfying human wants. The following essay will
define four significant business functions, following a case example that shows how working
together well of different roles bring success in businesses.
In organisations, marketing is the only way that helps managers determine its best
opportunities after considering available resources and objectives. Marketers shall urge their
respective companies to continually and critically gauge their consumers expectations and
meet or exceed their expectations gradually. In order to accomplish such role, organisations
every department focuses on understanding reasons behind serving consumers and if every
other function does not show involvement, it becomes difficult for the organisations to
succeed (Kamugisha, 2017).
Finance is another significant business function that proves to be very crucial for
sustenance and success since it engages financial related activities of the organisation.
Operational activity is also handled by finance department to some extent as they are
responsible for meeting every operational expense like raw materials, remuneration,
inventories’ etc. for smooth functioning of business activities along with making future
predictions related to external factors to bear consequences related to it (Kamugisha, 2017).
Production can be defined as creation of products or services in which production
function turns inputs like raw materials, capital and human resources into outputs also known
as finished goods or services. To manage such conversion process, the role of operations
management proves to be important and the entire conversion process can be defined as
production planning. This planning allows organisations consider competitive environment