Importance of different business function in organization

This document discusses the importance of different business functions in an organization and their interrelationship with marketing. It covers marketing, finance, operations, and human resource functions.

Business Report

Contents
Importance of different business function in organization..............................................................3
Role of different business function..............................................................................................3
Interrelationship of marketing with different function................................................................3
REFERENCES................................................................................................................................5

Importance of different business function in organization
Business function in an organization defined from the analytics to product development to
marketing and sales, function excellence which is requirement for thriving business organization.
Business function have high level of grouping in business processes and capabilities describing
the business at highest level.
Role of different business function
Marketing function
Marketing have been viewed as asset of function as sense of certain activities are
traditionally associated with exchange process. This will be efforts of marketing to develop the
satisfying relationships to benefit both customer and organization.
Finance function
Financial department look at proper allocation of resource and disbursement of funds within
organization (Butt, 2020). This have proper estimation with financial requirements, investment
of funds along with looking into long term and short-term strategy for determining capital
structure and source of raising capital.
Operation and production functions
This function in company involves day to day running of business making sure resource are
available in effective and efficient manner. This will help out in developing the products
enhancing society quality of life creating out competitive environment that will help on lowering
product price.
Human resource function
This department deals up with employee training, compensation, recruitments and rewards.
In addition, HR department look int the maintenance of effective and efficient workforces for
accurate welfare activities and development of industrial relationship.
Interrelationship of marketing with different function
The interrelationship between marketing function and other organization function can be
explained as marketing function are part of businesses organization with other functional units
are connected with each other.
Marketing function with Finance department
Finance and marketing are two important pillars for growth and profits of company
dependent on each other. Marketing need for proper resources for publicity and advertising of
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company products. On the other hand, marketing providing proper revenue to firm for further
investment.
Marketing function with Operation and production functions
Production and operation function have the inclusion of the ware housing, packaging and
distribution aspects including production and manufacturing, Marketing is only be done for
products which are available in stick within reasonable time (Dimitriadi, 2016). So, there is need
for workable scenario for business where marketing department to sell out product which are
available in production or warehouse. Perhaps there is a warehouse full of other products that
our marketing campaign is ignoring.
Marketing function with Human resource function
Marketing department will use HR departments for recruiting the personnel for the different
marketing profile. HR would help the seeing the better job candidate for the marketing profile on
the other hand marketing will help HR department in getting up the new personal schedule for
interview and create better good will for company. HR also help marketing department to get
through underperforming employees establishing communication connection focusing on firm
mission and value.
Hence all the function of the business is directly or indirectly inked with marketing function
in order to work together for achieving the organizational objective. The interrelation of business
functions has relied on dependency and other structuring of organization.
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REFERENCES
Books and Journals
Online
Butt, J., 2020. Exploring the interrelationship between additive manufacturing and Industry 4.0.
Designs, 4(2). p.13.
Dimitriadi, A., 2016. The interrelationship between trafficking and irregular migration. Irregular
Migration, Trafficking and smuggling of human beings, p.64.
Online
Marketing’s Relationship with other Functions.2019. [ONLINE]. Available through.
< https://www.marketingteacher.com/marketing-and-functions/>
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