Interrelation Between Business Functions

The assignment discusses the interrelation between different business functions such as HR, Finance, Marketing, and Production. It highlights the importance of effective communication, decision-making, and leadership skills in achieving maximum sales and revenues along with growth of the business. The document also provides references to various studies and research papers that support the findings.

BUSINESS REPORT

Table of Contents
INTRODUCTION...........................................................................................................................3
Evaluate The importance of different business functions and show how the link together........3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
An organisation is consist of many business functions. These functions of the business
can be describes as the activities that are carried out by various divisions of company . This
assignment will help in understanding the interrelation between various functional divisions such
as HR, Production, Finance, Marketing and many more (Relationship Between Marketing
Department and Other Departments in Making Marketing Decisions, 2018). The assignment will
also help in understanding various skills that are required in an individual to work in an
organisation. For example, confidence, leadership, decision making, etc.
Evaluate The importance of different business functions and show how the link together.
The business activities of a firm are carried out by various divisions in an organisation.
These functional departments are Finance, HR, Marketing, Production, etc. The roles and
responsibilities of each division is different from others. However, there is an inter relation
between these departments which help them achieve maximum sales and revenues along with
growth of the business. These interrelation can be understand from the following discussion.
HR and Finance are the two functional divisions of a company (Marketing and its
relationship with other business activities, 2018). The HR department deals in appointing the
candidate for the desired field as per the required experience and qualifications. However, the
finance division is responsible for providing funds to conduct the busienss activities. Hence, the
HR division can help the finance department by appointing a well experienced and skilled
employee which will help in increasing the productivity of the organisation.
Similarly, the Marketing division of an organisation is responsible for promoting the
products and services of the firm by conducting various activities such as advertisements,
promotional activities, digital marketing, print media, etc. Hence, the marketing division of the
company can help the production department by promoting the products that are produced by the
firm with the help of various promotional modes (Marketing's Interaction with Other Functional
Units: A Conceptual Framework and Empirical Evidence, 2018). This will help in increase in the
number of sales of the company.
The Research division deals in collecting and analysing data of the market and customers
by various methodologies. This helps the organisation in analysing the customers demands and
latest market trends (Marketing and its relationship with other functional, 2018). Hence, the

Finance department can provide the Research division adequate funds to achieve more accurate
data which will help in decision making of the organisation.
The skills that are required to work in an organisation are communication, decision making,
confidence,leadership qualities and many more.
Communication in an organisation is very important. It is believed that there is a string
relationship between organisational communication and productivity of the company.
Additionally, effective communication helps in problem solving, gaining the cooperation of
other employees and managing the conflicts in a firm (Hilton and Platt, 2013).
Decision making- One of the most important quality needed in an individual working in
the company is efficient decision making. As a business is comprises of many small elements
where decision making is required on a very frequent basis. Hence, an individual should be
capable of analysing the situations and taking effective decisions.
CONCLUSION
From the above discussion, it can be concluded that there is an interrelation between all
the departments of an organisation. Also, it is important to have a good communication between
the departments which could help in increasing the productivity and profit levels of the company.
Also, various personal skills such as decision making, leadership, confidence, communication
skills, etc. are required to work successfully in an organisation.

REFERENCES
Books and Journals
Hilton, R.W. and Platt, D.E., 2013. Managerial accounting: creating value in a dynamic business
environment. McGraw-Hill Education.
Online
Marketing and its relationship with other business activities.2018. [Online]. Available through:<
http://www.sanandres.esc.edu.ar/secondary/marketing/page_14.htm >.
Marketing's Interaction with Other Functional Units: A Conceptual Framework and Empirical
Evidence.2018. [Online]. Available Through:< https://www.jstor.org/stable/1251140?
seq=1#page_scan_tab_contents>.
Marketing and its relationship with other functional.2018. [Online]. Available Through:<
https://www.coursehero.com/file/p7tmq3td/Marketing-and-its-relationship-with-other-
functional-areas-of-business-The/>.
Relationship Between Marketing Department and Other Departments in Making Marketing
Decisions,2018. [Online]. Available Through:<
https://www.bartleby.com/essay/Relationship-Between-Marketing-Department-and-
Other-Departments-P3VCWC3EKRYYS>.