Role of Business Functions in Companies like Walmart
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Added on  2023/01/06
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This report discusses the role of various business functions in companies like Walmart and the importance of these functions working together. It also highlights the interrelation between different departments and their impact on achieving organizational goals.
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Table of Contents INTRODUCTION...........................................................................................................................1 MAIN BODY...................................................................................................................................1 Role of all the functions...............................................................................................................1 Importance of the department or functions working together.....................................................2 CONCLUSION................................................................................................................................2 References....................................................................................................................................3
INTRODUCTION Business Function can be defined as "a cycle or activity that is performed regularly to do an aspect of the mission of an organization"(Evans and Richardson, 2017). The activities which are carried out by companies are can be divided according to different departments of company. There are various functions of a business that are discussed in this report. MAIN BODY Role of all the functions ï‚·Marketing Function-Marketing is a collection of activities which are carried on to promote products and services of company in the target market. Good marketing strategies helps companies such as Walmart in building brand name and attracts customer inlargenumber.Theremanycentrebusinesswhichworksbyapplyingdecent advertising arrangement which are significant with their business(Dong, 2017). ï‚·Finance Function-In business like Walmart, finance function helps in acquiring funds and utilizing them in such a way that company may carry its operations in effective manner. Money is the soul of business without it things wouldn't run easily(Norton, 2020). Finance is asource through which businesses generate profits and allocate them in different activities. ï‚·Operations Function-Associations are comprised of various offices or aspects that need to cooperate, however regularly battle to do as such. An operation manager has the significant obligation of guaranteeing that these various machine gear-pieces cooperate in accomplishing both their individual objectives, and the objectives of the organization like Walmart as entirety(Jorre de St Jorre and Oliver, 2018). ï‚·Human Resources-Having made some amazing progress since customary "work force," HR is a basic business function that assists organizations such as Walmart with prevailing with regards to recruiting representatives, keeping them drew in, and supporting their development and improvement(Qiu and Tong, 2017). Given the numerous exercises in the working environment that are affected by HR, there's a decent possibility that there are some that not every person thinks about. 1
Importance of the department or functions working together Marketing department is important for any businesses such as Walmart, because it gives varies information to company, it makes business sustainable in competitive market, were it mainly helps businesses in selling their products and services (Pierucci, 2019).The finance department in business like Walmart, it is important because it identifies need of finance in business, the sources from which business can acquire finance and also helps the businesses to make right investment decisions(Amelink and Edwards, 2020). The operation division is very important in business of companies like Walmart because it effectively facilitates cooperation between different departments of company like connecting workers to project management, marketing activities and content to sales. Human resource must importantly focus on engagements between the workforces, it helps in building relationship between the workers, and it assists and manages team leaders in the organisations like Walmart (Rickly and Cook, 2017). All the above stated departments are interrelated within the Walmart because activity of one division is directly or indirectly associated with other departments. For example, with reference to Walmart the marketing function as to acquire funds from the finance department of company for which it needs to explain the plan it has formulated for promotional activities (Aptoula and Bayyurt, 2020). The interrelation between all the departments is necessary because all these divisions work for the accomplishment of same organisational goal. If they do not have coordination between them then the organisational goal can not be achieved effectively and their can be duplicability in use of scare resources(Page, Trudgett and Bodkin-Andrews, 2019). CONCLUSION From the above report it can be concluded that business functions are the various activities which can help the business function properly and effectively achieve its goals and objectives. All the functions are important according to their functioning and they are interlinked to each other which make the working of company easier. Functions like marketing, finance, operations and human resource are performed in the business and they are important to their aspects. 2
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References Amelink,C.T.andEdwards,C.D.,2020.ExploringtheSocializationExperiencesof Underrepresented Engineering Graduate Students.Journal of Women and Minorities in Science and Engineering.26(4). pp.357-379. Aptoula, N.Y. and Bayyurt, Y., 2020. Features of Electronic Feedback on Graduate Level Writing. InEnglish for Specific Purposes Instruction and Research(pp. 145-158). Palgrave Macmillan, Cham. Dong, Y., 2017.Surviving the International Experience: Exploring the Mental Health of Graduate International Students(Doctoral dissertation). Bosch, G. and Casadevall, A., 2017. Graduate biomedical science education needs a new philosophy.Mbio.8(6). Evans, C. and Richardson, M., 2017. Enhancing graduate prospects by recording and reflecting onpart-timework:Achallengetostudentsanduniversities.IndustryandHigher Education,31(5). pp.283-288. Jorre de St Jorre, T. and Oliver, B., 2018. Want students to engage? Contextualise graduate learning outcomes and assess for employability.Higher Education Research & Development.37(1). pp.44-57. Norton, A., 2020. Making Space for Archival Anxieties: Developing a Graduate Student Archival Research Community at UC Santa Cruz. Page, S., Trudgett, M. and Bodkin-Andrews, G., 2019. Creating a degree-focused pedagogical framework to guide Indigenous graduate attribute curriculum development.Higher Education.78(1). pp.1-15. Pierucci, L., 2019. Challenges for Teaching Wireless Communications Standards at the Graduate Level.Education Sciences.9(4). p.298. Qiu, Z. H. and Tong, M. S., 2017, December. Improvement on education quality of graduate students facing the challenge of big data era. In2017 IEEE 6th International Conference on Teaching, Assessment, and Learning for Engineering (TALE)(pp. 156-159). IEEE. Rickly, R. and Cook, K.C., 2017. Failing Forward: Training Graduate Students for Research— An Introduction to the Special Issue. 3