Business Functions Essay

Student Name
INSTITUTIONAL AFFILIATION(S)
BUSINESS REPORT

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Business Functions Essay
Business functions like finance, marketing, operation/production and human resources
can be considered as those ongoing business activities which improves organisational
efficiency along with enhancing consumer experiences (Skripak, 2016). The following essay
will demonstrate how above-mentioned business functions enables success in businesses by
defining them individually as well as utilising evidence-based learning.
Profit earning remains the primary goal of every organisation and efficient marketing
strategy is the only way through which companies foster sales in targeted marketplace.
Marketing function usually involves basic research of market and approaching consumers for
making sales of services and products. To manage financial decisions of any company,
finance management plays a very critical role that not only assists managers in developing
business plans, but also in developing cost and budget related matters. The role of finance
managers includes managing risks and capital along with making cash flows and taking
significant financial decisions that keeps smooth flow in businesses (Skripak, 2016).
Production/operation is another significant function that assists businesses while
catering consumers’ needs through suitable production of goods or services and setting
effective distribution channels. The primary role of both of these functions is to provide
value-based solution according to the consumer demands. Production function deals with
methodical processes where raw materials are transformed into finished goods. Operations,
on the other hand engages in delivery and transportation function by engaging external and
internal suppliers thus creating valuable supply chain process (Sandybayev, 2019). To manage
human capital, the role human resource function is considered to be very crucial as HR
managers manages and find out ways through which human capital of firm can be managed
most effectively (Osabiya, 2015).