Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 Importance of business functions................................................................................................3 CONCLUSION................................................................................................................................4 REFERENCES................................................................................................................................5
INTRODUCTION Business functions are plays an important role in the organization which is required for the business and its growth. The present report must be based on examples of different organization. The report will show importance of different business function who has working together in order to achieve goals and objectives of business. MAIN BODY Importance of business functions. There are different business functions which are plays a very important role in the organization in order to make and improve academic skills for business. Those functions are marketing, finance, production and human resource. Role of marketing Function: Marketing is the process of getting goods ad services into the hand of customers with a view to satisfying needs of customers (Bekhradi, Yannou and Cluzel, 2016). The main role of marketing department is to be a promoting business and achieve mission of business and its is very important for business.For example: M&S company's marketing department use different types of promotional techniques to promote products at marketplace. Like: Online and digital platform. The marking department work together with R&D department for analysis new trends and needs of customers with company. Role of finance function: The finance department is the back bone of the work which is allocated money and funds to other departments for their expenses. They are keep records of financial records. The finance is the main and important function of business. This is important to responsible for acquiring funds for the firm in effective manner as well as managing funds within the organization and planning for the expenditure (Bustinza, Baines and Elliot, 2015).For example: The Cox & kings finance department make proper records of money out and comes in the business as well as manage funds with in proper manner by allocating to other department. Role of Production function: The production department is the creation of the goods and services with the help of variousprocess.Theproductiondepartmenthavefivesub-functionsthatareProduction planning, Purchasing, Store, Design and technical support and Operation department (Rahimi, Møller and Hvam, 2016). The main and important role of production department in organization
is to ensuring the quality of products is achieved in each item produced.For example: The Production manager ofTescois identify needs of inputs like quality and volume of goods which important to produce as well as minimize cost of production. Role of Human resource function: Human resource department is the backbone of the organization. They are completely work with the human and employees of company in effective manner. They are managed their employees in proper manner as well as motivate them. The main aim of this function is to obtain and maintain a capable and effective workforce (Rahim and Lokman, 2017).For example: HRM function of M&S company is motivating their employees by provide fair and work based compensations. CONCLUSION From the above essay, it had been concluded that the business function has very important part of the business. The function has production, finance, marketing and human resource functions. They had work together for achieving goals and objectives of company in effective manner.
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REFERENCES Books and Journals Bekhradi, A., Yannou, B. and Cluzel, F., 2016. Importance of problem setting before developing abusinessmodelcanvas.InDS84:ProceedingsoftheDESIGN201614th International Design Conference(pp. 907-916). Bustinza, O. F., Bigdeli, A. Z., Baines, T. and Elliot, C., 2015. Servitization and competitive advantage:theimportanceoforganizationalstructureandvaluechain position.Research-Technology Management.58(5). pp.53-60. Rahim, A.S.A.B.A. and Lokman, N., 2017. The Importance of Integrity Systems in Assessing Malaysian Business Ethical Practices.ICOPS2017 eProceedings, p.769. Rahimi, F., Møller, C. and Hvam, L., 2016. Business process management and IT management: The missingintegration.InternationalJournal ofInformationManagement.36(1). pp.142-154.