Importance of Different Business Functions

Importance of different
business functions

Introduction
Business function means all those different activities which are performed by the
company to achieve their goals. There are various type of business function that an
organisation need to perform some of them are financial, operational, marketing, human
resource etc., all of them are important for organising and managing the business day to day
working (Ridgely and et. al, 2020).
Essay
In today’s era all the department roles are very important and they cannot be ignored
by any organisation. For gaining the competitive advantage it is very important that each
function is performed in the best way Primo (Gil-Saura and Frasquet-Deltoro, 2020).
Marketing is one of the most important functions of the business. The role of marketing
department is to bridge the gap between the customer and the organisation and established a
good relationship between them. One of the strong marketing department of the world biggest
organisation Apple used their skills and knowledge were they advertise the new product in
very innovative way in front of the buyers so that they can attract towards it and buy it (Han
and et. al, 2018).
The next function of the organisation which is Production department also known as
operation department. They play a significant role where they convert all the raw material
into the finished goods or services so that they are readily available for the buyers. Their
duties are very critically because most of the company’s capital is invested in procurement of
raw material and then converting it into output. In a hotel industry the food department is
there production branch which made food for the customer (Bosci and et. al, 2019). Finance
department is an integral part of the business which plays the role of acquiring the fund from
various sources so that they can raise the capital for their overall working. This unit of the
company manages the funds so that a proper budget can be prepared for the year and can
invest their money on various assets advancement. They are also responsible for maintaining
the cash flow and provide the cash for day to day operations. For example the healthcare
fiancé department collects all the revenue, pays the bills and prepare the financial statement
so that they can provide all the information to the senior managers to make decision.