Role of Different Business Functions and Importance of Working Together
Verified
Added on 2023/01/05
|5
|788
|89
AI Summary
This report analyzes the role of different business functions such as marketing, human resource, operations/production, and finance, and emphasizes the importance of these functions working together in a company.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Graduate Challenge
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Contents INTRODUCTION...............................................................................................................................3 MAIN BODY.......................................................................................................................................3 Role of different business function....................................................................................................3 Importance of business function working together............................................................................3 CONCLUSION....................................................................................................................................4 REFERENCES....................................................................................................................................5
INTRODUCTION In a company there are several business functions which directly or indirectly impact on the business operations. Moreover, it also leads to accomplishment of every work effectively which leads to attainment of desire goal and objectives successfully(Goodacre and et.al., 2020). The respective report is based on analysing the role of different business functions such as operations/ production, marketing, finance and human resource. Along with this it will also include importance of these functions working together in a company. MAIN BODY Role of different business function Marketing function – The marketing function mainly help business in enhancing their business opportunities at the potential market. The role of respective function is to effectively publish company business, products or services so that more and more customers get attracted toward products or services. In respect of Marks and Spencer their marketing department generally advertise and promote products so that more customers will know about it. Human resource function – Respective function of company ensure that there is proper management of employees and operations at the workplace. The role of this function is to hire best employees, maintain unity at workplace and so on. In respect of ASDAtheir HR departmentwillconduct several rolessuch asemployee’s engagement, hiring and so on. Operations or production function – The role of respective business function is conductoperationsproperlyaswellasrespectivedepartmentalsoensurethat production is conducted appropriated for attaining desire goal(Khekale, Askhedkar and Parikh, 2020). In respect of Unilever their operations or production function ensure all process are conducted proper so thar customers get quality products. Finance function – The main roles of this function is to ensure that all department has proper funds so that all business operations are conducted properly. In respect of H&M their finance employees will perform several roles such as managing accounts, provide funds to other departments and many others. Importance of business function working together In an organization all departments or business functions conduct their allotted work which help company in attaining their desire goal successfully(Richardand et.al., 2020).
Moreover, all business functions likeoperations/ production, marketing, finance and human resource work together so that their firm achieve their target successfully. For example, in Unilever all departments or business functions work related to each other such as if operation or production need to recruit a staff(Stoneand et.al., 2020). They will visit to other departments and they all perform their role such as finance department allot budget as well in respect of marketing, they will do advertisement so that they enhance awareness about recruitment which increase ratio of talent. In this situation human resource department will generally hire the best candidates according to the requirement. CONCLUSION By analysing above mentioned topic it can be summarised that for every company management it is essential to understand role of different business function. It is so because thatleadtoeffectivelyconductingofbusinessforattainmentofdesiregoal.Inan organization there are several business functions such as operations/ production, marketing, finance and human resource. These all business functions work together for the attainment of desire goal and objective. Moreover, it will also lead to accomplishing business work properly with high productivity.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
REFERENCES Books and Journals Goodacre, S. and et.al., 2020. Characterisation of 22446 patients attending UK emergency departmentswithsuspectedCOVID-19infection:Observationalcohort study.medRxiv. Khekale, S. N., Askhedkar, R. D. and Parikh, R. H., 2020. An Analysis for the Use of Simulation Modeling in Reducing Patient Waiting Time in Emergency Departments (EDs)inHospitals.InternationalJournalofAppliedIndustrialEngineering (IJAIE).7(1). pp.52-64. Richard, K. R. and et.al., 2020. Predictors of Potentially Unnecessary Transfers to Pediatric Emergency Departments.Hospital Pediatrics.10(5). pp.424-429. Stone, T. and et.al., 2020. The introduction of a safety checklist in two UK hospital emergencydepartments:Aqualitativestudyofimplementationandstaff use.Journal of Clinical Nursing.29(7-8), pp.1267-1275.