Importance of Different Business Functions

This report explains the importance of different business functions and their interrelationships. It discusses the role of marketing, production, finance, and human resources in managing operations and generating profit. The report emphasizes the need for effective communication among departments for positive outcomes.

BUSINESS REPORT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................1

INTRODUCTION
Business functions can be defined as activities that are carried out by firms to manage its
operations. Each department is responsible for different work and management ensure to manage
all functions in significant manner. Present study will explain importance of different business
functions.
MAIN BODY
Marketing plays significant role in the ASDA, it is responsible for conducting research to
analyses needs of consumers (Elia, Massini and Narula, 2019). Through marketing efforts firm
can easily know what the preferences of consumers and can make changes in its products so that
their expectations can be met. Marketing is very importance for ASDA as it is helpful in
promoting brand and boost sales as well. Production department is having responsibility of
producing high quality goods so that enterprise can satisfy its wide range of buyers. This
functions aids ASDA in retaining consumers in business for longer duration and making them
loyal towards the brand. Marketing and production both these departments are interlinked as
marketing efforts helps production in knowing the change requirements and ASDA manage that
changes quickly so that firm can satisfy its end users (Albertoni, Elia and Piscitello, 2017).
Finance department of ASDA has to play the role of resource allocator, as it allocates
fund to all activities. This aids in managing funds in significant manner and generating cash flow
as well. By this way ASDA can raise its profit to great extent. Human resource department is
responsible for hiring talent and managing them well (Rahmi and Rufaidah, 2018). If HR is
unable to bring new talent, then enterprise will not be in positon to get skilled people in finance
department those who can handle cash management in such condition finance department will
fails to generate profit. Adequate management of financial resource supports the firm in giving
good incentives to all employees, by this way HR can become able to retain skilled people in
organisation for longer duration.
There is significant relationship between human resource department and marketing
department. HR is responsible for giving training to staff members so that marketing team can
understand product’s features and can make the consumer ready to buy its items. If they have not
proper knowledge, then they will not be able to deliver good services to end users. Marketing
team have to generate sales through their marketing efforts (Marketing and its relationship with
other business activities, 2020). If they perform well then HR will provide them extra incentive

that aids ASDA in enhancing employee retention in organisation and also supports the firm in
managing business activities in efficient manner. It is very important for ASDA to build
communication among all departments so that important information can be exchanged properly
and entity can get positive outcome.
CONCLUSION
Above study can be summarised as business functions are interrelated with each other, issue
in one function can cause problem to other activities. Marketing, finance, Hr all activities need to
be managed properly so that company can raise its profit and can sustain in market for longer
duration.

REFERENCES
Books and journals
Albertoni, F., Elia, S. and Piscitello, L., 2017. Complementing the reshoring of manufacturing
activities: the relocation of business functions. In Reshoring of Manufacturing (pp. 57-
75). Springer, Cham.
Elia, S., Massini, S. and Narula, R., 2019. Disintegration, modularity and entry mode choice:
Mirroring technical and organizational architectures in business functions
offshoring. Journal of Business Research. 103. pp.417-431.
Rahmi, A.U. and Rufaidah, P., 2018, December. The Effect of Key Success Factors Based on
Business Functions on Competitive Advantage. In Journal of International Conference
Proceedings (Vol. 1, No. 2).
Online
Marketing and its relationship with other business activities. 2020. [Online]. Available through:
< sanandres.esc.edu.ar/secondary/marketing/page_14.htm>
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