Importance of Various Business Functions

This essay discusses the importance of different business functions and their interrelationship using Bentley Motors as an example.

Business Report

TABLE OF CONTENTS
Importance of various business functions....................................................................................3
Skills required to a successful undergraduate student.................................................................4
REFERENCES................................................................................................................................1

Business functions refers to the set of activities carried out by the organization which will
help in accomplishing organizational goals and objectives. All the business functions are
important for proper functioning of the organization. In this essay, Bentley motors is taken as an
organization, which is a British manufacturer of luxury cars. This essay present about the
importance of different business functions and the interrelationship between them.
Importance of various business functions
The relevance of the different business functions varies between organization. The most
importance functional units are stated below.
Marketing
The marketing department executes various functions which are crucial for the
organization in order to initiate its business (Kirova, 2017). It involves various functions like
conducting market research, analysing the market trends, customers need and preferences. It is
also responsible for implementing the marketing plan for promoting and advertising the product
and services. In Bentley motors, the marketing team is very effective in promoting the business
with respect to the changes taking place to attract more customers.
Finance
The finance department mostly works on analysing the cost associated with the project
and also prepares budget based on the needs of the different department and allocate it to them
(Marples, 2019). This function is also responsible for acquiring and managing funds for further
successful implementation of business plan. In Bentley motors, the finance is highly skilled
which focusses on effective management of funds and planning of expenditures which helps in
reducing cost.
Human Resource
The human resource department has the importance in resolving workplace conflicts and
recruiting the personnels and maintaining the required workforce in the organization (Pânzaru,
2016). It is also responsible for providing training and development sessions to the employees,
complying with employment laws etc. The HR team in Bentley motors, are very effective in
managing the workforce as proper care is taken by providing them timely training and
motivating them to improve their performance.
Operation

The operation department is responsible for fulfilling the customers orders as per
schedule. It manages the complete production process from the getting the raw material to the
production of finished goods and final delivery to the customer (Anand and Gray, 2017). Bentley
motors has very high skilled workers working continuously to improve their performance which
will help systematic management of the organization.
All the above business functions are interrelated and are required to work together then
only organization will be able to achieve its goals. For example, the marketing department
conducts market research based on which plan is formulated and then finance department
conducts cost analysis to determine the amount of cost involves in it and according to which
budget is set. Thus, all the functions are interrelated and needs to have proper coordination.
Skills required to a successful undergraduate student
The skills that can be very helpful for the undergraduate student to be successful in the
career are stated below.
 Note taking
 Presentation skills
 Time management
 Emotional skills
 Retention skills
From the above it can be said that effective implementation of business functions is very
essential for an organization as it helps in accomplishing the required goals. Also, there is a
strong relationship among various business functions.

REFERENCES
Books and journals
Kirova, V., 2017. Exploring the role of strategic marketing department. Journal of Marketing
Development and Competitiveness. 11(2).
Marples, D. L., 2019. Roles in a manufacturing organization. In Managerial Work (pp. 77-98).
Routledge.
Pânzaru, S., 2016. The role of human resource management in integration of staff in
organizations. Review of General Management. (23 (1)). pp.58-64.
Anand, G. and Gray, J. V., 2017. Strategy and organization research in operations
management. Journal of Operations Management. 53. pp.1-8.
Online
5 Study Skills and Techniques for Students Who Want to Succeed in College. 2020. [Online].
Available Through:<https://www.uopeople.edu/blog/5-study-skills-and-techniques-for-
students-who-want-to-succeed-in-college/>.
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