Role and Importance of Business Functions in Jaguar Corporation

This business report contains brief information regarding role and importance of different business functions that are perform in order to accomplish mission objectives and goals. It explains how these functions are interrelated with each other in context with Jaguar corporation. Result of this analysis shows that these functions and their interrelation are an essential aspect as these create coordination and cooperation environment within organisation which leads to effective attainment of organisational goals.

Business Report

Executive Summary
This business report contains brief information regarding role and importance of different
business functions that are perform in order to accomplish mission objectives and goals. It
explains how these functions are interrelated with each other in context with Jaguar corporation.
Result of this analysis shows that these functions and their interrelation are an essential aspect as
these create coordination and cooperation environment within organisation which leads to
effective attainment of organisational goals.

Table of Contents
Executive Summary.........................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Role and Importance of Business functions...........................................................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business is categorised as kind of organisation, enterprise, corporation, entity which are
indulged in different commercial, industrial as well as professional activities for purpose of
earning profits. There are numerous organisation functions that are perform together in order to
achieve different objectives and goals. These are known as business functions that are
undertaken by an organisation effectively (Functional Areas of a Business, 2020). This report
explores various core functions and their role as well as importance in an enterprise. Further, it
exhibits significance of interrelation between them. Jaguar Land Rover is a leading multi-
national organisation which deals in manufacturing and selling of luxury cars at premium price
range. It produce its products under two brand names Jaguar and Land Rover and servers them
worldwide.
MAIN BODY
Role and Importance of Business functions.
Business functions refers to different set of activities conducted by every small or large
organisation. These functions are further categories in four core sub functions that are routinely
performed with aim of achieving vision and mission goals. Such activities are explained below:
1. Marketing: marketing function is concern about promotional activities of products and
services in order to communicate regarding brand and features to target customers. It
ensure proper accessibility of goods in market. This function is majorly relate with
promotion, pricing, sales, distributions. Jaguar Land Rover promote its product range
through different promotional tools like print media, digital platforms, brand
ambassadors so on. Company target high income customer segment for its product.
Role and Importance: there are so many role associated with marketing but one of its major role
is to analyse and determine requirements and needs of customers in order to make sure that
company's products are meeting those needs.2. Finance: this function is highly consider with funding, creating budgets, controlling and
auditing of financial resources along with proper allocation of these in various sections
of enterprises. It include acquisition and utilization of funds which required to perform
different operations (Cantù and et. al., 2015). Jaguar finance team take care of
formulating different budgets in order to sanction new projects and investments.
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Role and Importance: role of this function is vast as it involve in different decisions like
investment, financial, liquidity and dividend. This function is important cause it provide required
funds to other departments like production, marketing for smooth functioning.
3. Production: this functions is concern about converting and producing products and
services. It associated with conversion of raw material into physical output of goods for
purpose of satisfying different needs and demand of buyers. Jaguar land rover is
manufacturing company and its production department deals with designing and
developing new featured cars with purpose of providing better experience to customers.
Role and Importance: role of this function is to design and develop a new featured product on
basis of requirements of customer base. It is an essential aspect as it aim to add some value to
product which leads to powerful and loyal customer relationship.4. Human resource: this function are highly related to workforce of organisation as it
includes various activities such as recruiting, selecting suitable candidate. This function
is used in organizing training and development programs, performance management,
setting compensation packages so on (Durcan, 2016). Human resource department of
Jaguar highly focuses on hiring best and qualified technical and professional staff within
organisation.
Role and importance: role of such function in an organisation is to provide motivated and
talented workforce within organisation. This is important because it conduct various performance
appraisal programs, induction and orientation for new employees and to provide fair
remuneration to workers.
Interrelation between different business functions.
Marketing and Finance are interrelated with each other as these both are equally
important for increasing market share and productivity. Marketing function required funds for
events and campaigns which is provided by finance department. Finance function is depended
over marketing as successful promotional activities leads to higher revenue and profits that result
in effective financial resources.
Production and human resource are interconnected with one another as for operation
process production department required high skilled and talented workforce for which human
resource function is performed in order to hire and train new employees. Moreover, human
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resource is interlinked with production as it provide quality products which enhance overall
productivity of firm which will in turn benefits for employees.
CONCLUSION
From above analysis, it can be concluded that business functions are an important aspects
for organisation as they are useful in attainment of organisational objectives. Each function has
their own role and importance that concern with high productivity and profitability. Moreover,
interrelation between these functions are highly beneficial for firm's performance and growth.
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REFERENCES
Books and Journals
Cantù, C. and et. al., 2015. Innovative and networked business functions: customer-driven
procurement. Journal of Business & Industrial Marketing.
Durcan, J., 2016. Outsourcing and the virtual organization: The incredible shrinking company.
Random House.
Online
Functional Areas of a Business. 2020.[Online]Available
through<http://foundersguide.com/functional-areas-of-a-business/>./
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