Role of Marketing, Finance, Operations/Production, and Human Resources in Successful Organizations
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This essay explores the role of marketing, finance, operations/production, and human resources in successful organizations and the importance of their coordination.
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Table of Contents INTRODUCTION...........................................................................................................................1 MAIN BODY...................................................................................................................................1 Role of marketing, finance, operations/production and human resources..................................1 Importance of all these functions working together well based on successful organisations.....2 CONCLUSION................................................................................................................................3 REFERENCES................................................................................................................................4
INTRODUCTION Business function are those affair that is adopted by an enterprises. These business functions can be divided into two aspects i.e. core function which included the production, human resources whereas support function involves marketing, finance, information technology etc. This essay report is based on role of different business functions with their importance that helps in supporting the business to make successful(Luzzini and et. al., 2015). MAIN BODY Role of marketing, finance, operations/production and human resources Role of marketing Marketing play an essential role for promoting the business in the market and attracts the large base of customers by providing the satisfactory goods according to their needs and requirements. There role is to examine the target market and competition so that effective strategies can be developed to sustain in market for a longer period of time. For example- ASDA majorly focus on performing marketing role so that they can effectively promote their goods and services in the market, research the market accurately, this helps in developing the trust of customers on the company offerings and firm will earn higher profit and sales also enhance the image of the brand and loyal customers base(Leung and et. al., 2016). Role of finance As this function can perform the role of acquiring funds, managing funds, planning for investing money, making budget for expenditures incurred on the resources of firm so that enterprise will meet their goals and objectives effectively. In terms of ASDA finance function is responsible for business support services, effectively control the monetary benefits and the do the expenditure with low cost so that company will survive longer period of time and operations of the business on daily basis can run smoothly (Senior Commercial Finance Manager â Trading. 2020). Role of operations/production This business function perform a main role in managing all the aspects related to producing, manufacturing of product and services and delivers it to the consumers for gaining profits. In this operation department in ASDA perform the role of managing the quality of the good and services at the time of manufacturing so that high profits would be gained(Asda 1
Operations Management, 2020).In this company can use the computer software to know the stock availability so that customers can get it conveniently and company will gain more revenues(Jamali, El Dirani and Harwood, 2015). Role of Human resource This functions shows as significant in the business enterprise because this function can work for controlling and managing the manpower of the company by performing varieties of roles such as staffing, recruiting, appraising, training and development etc.In ASDA, HR department contributes more on success and growth of the organisation as they maintains the relationsbetweenemployeesandemployerssothatworkdonesmoothly.Organising development plans for the employees so that there personal skills is to be improved and objectives can be attained successfully(Asda Stores, 2020). Importance of all these functions working together well based on successful organisations Aboveallbusinessfunctionsareveryessentialforthesuccessofthebusiness organisations and their sustainability. It is very important to have a great co-ordination between allthedepartmentsothatoperationsandtaskcanbedonesmoothlywithoutany misunderstanding and mistakes. If all the business functions working together than firm like ASDA can utilised their resources effectively that represents the improvement in the quality of the work at the time of completion of project. In this marketing department can research the market for understanding the needs of the customers and in this finance department make the budget so the cost can be effectively used that does not affect the profits of the company. They also monitor the company reserve funds for securing the future of the business enterprises. In this it is very essential for the departments to coordinate with production department so that they offers the quality goods according to customers requirements and with cost effective manner for this they also adopts the varieties of applications like lean method, kaizan, six sigma so that wastage can be removed effectively. And to maintains and manage all the departments human resources working effectively as they recruit, train and reward the employees as per their efficiency, capability etc. so that objectives can be attained on specified period of time. So it is evaluated that if all the business functions are working coordinate than firm will achieve then task for earning higher profits will long term sustainability(Hull and Scott, 2020). 2
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CONCLUSION From the above report it is concluded that different business functions perform different roles in the firm according to their speciality and efficiency so it is very essential to work coordinate so that project can be gained and attained on time frame and operations of the business can run very smoothly. 3
REFERENCES Books and Journals Hull, A. and Scott, P., 2020. The âvalueâof business archives: assessing the academic importance of corporate archival collections.Management & Organizational History, pp.1-21. Jamali, D.R., El Dirani, A.M. and Harwood, I.A., 2015. Exploring human resource management roles in corporate social responsibility: The CSRâHRM coâcreation model.Business Ethics: A European Review.24(2). pp.125-143. Leung, R.C. and et. al.,2016. The role of executive functions in social impairment in Autism Spectrum Disorder.Child Neuropsychology.22(3). pp.336-344. Luzzini, D. and et. al., 2015. From sustainability commitment to performance: The role of intra- and inter-firm collaborative capabilities in the upstream supply chain.International Journal of Production Economics.165.pp.51-63. Online AsdaOperationsManagement,2020[Online].Availablethrough <https://www.freecasestudysolutions.com/case-study-Asda-Operations- Management.aspx> AsdaStores,2020[Online].Availablethrough<https://www.personneltoday.com/hr/asda- stores/> SeniorCommercialFinanceManagerâTrading.2020[Online]Availablethrough <https://www.asda.jobs/vacancy/senior-fpa-manager---senior-commercial-finance- manager---trading---6603-leeds/6621/description/> 4