Distinct Departments in a Business Firm and Their Importance

This report discusses the distinct departments in a business firm and their importance in achieving goals and objectives. The main departments covered are marketing, finance, operation/production, and human resource. The report emphasizes the interrelation and coordination between these departments for effective functioning of the organization.

CW1 Business Report

INTRODUCTION...............................................................................................................................2
MAIN BODY.......................................................................................................................................2
Marketing..........................................................................................................................................2
Finance..............................................................................................................................................2
Operation/production.........................................................................................................................3
Human resource.................................................................................................................................3
Importance.........................................................................................................................................3
CONCLUSION....................................................................................................................................3
REFERENCES....................................................................................................................................4

INTRODUCTION
Business firm have distinct department or function who conduct and perform several
tasks which provide assistance in accomplishing desired goals and objectives in better
manner. In addition to this, activities or task conduct through departments are in accordance
of personnel’s academic and professional skills. Respective report will be going to discuss
distinct department of company with their importance.
MAIN BODY
Marketing
Marketing department play essential role in company by fulfilling customers needs
and wants which are align with organisational objectives. Along with this, respective division
assist company by giving impact within wider market through providing services to
customers that assist in making customer satisfy and promoting products as well as services
in market (Ayyagari, Demirgüç-Kunt and Maksimovic, 2011). For example, marketing
manager of Tesco will conduct research that help in determining customers need and wants in
appropriate manner and results in making satisfy.
Finance
For an organisation finance is backbone without no proper funds for business it will
be not easy to conduct operations in effective manner. This division is related to the
management of financial resources in an organisation (Wing, 2016). In addition to this,
finance division includes acquisition and optimum utilisation of funds which are essential for
smooth operations in business. Role of finance division is generally related with financial
management which mean strengthen financial position. For instance, Financial conduction of
Tesco is good as well as transparent that is possible due to their financial department.
Operation/production
Production division main purpose is to facilitating profitability as well as smooth
production within business firm. Although, main role of production department is to keep
running business in better manner (Hawkins and Mothersbaugh, 2010). If production of
company gets effected then it will result in impacting overall company in negative manner.
Moreover, production department have to ensure that good quality products will provide to
customers because this result in making customer satisfy. For example, Tesco is multi brand

business within UK that result in becoming possible because of their operation and
production division.
Human resource
HR division is liable for dealing with every single movement of business and workers
moreover. In an association significant function of HR is to fill empty situation by enrolling
and choice cycle (HR practices, 2020.). Alongside this, few different jobs are additionally
performed by HR division, for example, preparing, worker connection, overseeing complaints
of staff and some more. For example, Tesco is store chain at driving position and explanation
for their prosperity is compelling Human asset the board.
Importance
For a business firm it is important to have distinct division which have good
coordination and communication with each other (Tiainen, 2019). Although without effective
communication it is impossible for company to accomplish their desired goals and objectives
in effective manner. For example, finance division provide funds and resources to every
other department for conducting activities in effective manner (Mutheneni and et. al., 2017).
From above mention illustration it has been determined that every department is interrelated
with each other.
CONCLUSION
From entire discussion it has been summarised that within a business firm there are
numerous division like finance, marketing operation and human resources. In addition to this,
every division play crucial role in organisation and when every division conduct results in
achieving desired goals and objectives.

REFERENCES
Books and journals
Ayyagari, M., Demirgüç-Kunt, A. and Maksimovic, V., 2011. Firm innovation in emerging
markets: The role of finance, governance, and competition. Journal of Financial and
Quantitative Analysis. 46(6). pp.1545-1580.
Hawkins, D. I. and Mothersbaugh, D. L., 2010. Consumer behavior: Building marketing
strategy. Boston: McGraw-Hill Irwin,.
Tiainen, E., 2019. Optimizing production by harmonizing product specifications: company
X, division X.
Mutheneni, S. R. and et. al., 2017. Dengue burden in India: recent trends and importance of
climatic parameters. Emerging microbes & infections, 6(1), pp.1-10.
Wing, E. A. S., 2016. Finance division. Government of Pakistan,“Pakistan Economic
Survey”, Varios números.
Online
HR practices. 2020. [Online]. Available through:
<https://www.humanresourcesmba.net/worlds-30-innovative-corporate-human-
resources-departments/>