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Understanding the Global Business Environment - Report

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Added on  2020-07-22

Understanding the Global Business Environment - Report

   Added on 2020-07-22

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Understanding the Global Business Environment - Project (4IM510)Please follow the instructions below and use the templates to present your work.
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MODULE ASSESSMENT PART 1 (CW1 – 70%)A.The Value Chain and Business Functions (70 marks total)In this part of the assessment you are to complete two short written activities designed to test your appreciation and understanding of some key business functions. Using the templates set out on the following pages, use a range of appropriate academic underpinning to explore and examine the purpose and value of some key business functions. You will be able to choose which business functions you want to examine (for example, you might choose Operations Management, Marketing, or Human Resources Management). You can choose any element of the Value Chain (Porter 1985), whether Primary or Support function / activity.
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Name of Business Function 1: Total Available Marks - 35 marks Instruction 1: In 800 – 900 words outline the purpose and value of the business function (e.g. Marketing, HRM) to an Organization and how the function links to other functions of the value chain.Instruction 2: You must use five (5) ( no more than 5) appropriate academic sources to underpin your work - to be listed at the end of this section and referenced appropriately within the text (Harvard style).Answer:(A) Purpose and values of Business functions and value chainAn Organization works with different functions and operation departments. This functions helps the Organization to met the targets and goals (Voegtlin, Patzer and Scherer, 2012.). The below are the purpose and importance of functions are discussed for an Organization.To frameDesign of product : Production department of an Organization know as ground and important department of the Organization (Wang, Wang and Yang, 2010.). Production department of the company operates different factors of production department such as FulfillingLabour requirement : Labour is the physical and mental strength of the Organization who make their efforts to produce the product or services whit their skills and knowledge. Apple Inc. recruit high skilled and professional labour to make their product perfect and luxurious. MaterialRequirement: Any manufacturing and goods company needs raw material requirement to convert it from raw material to finished product. As Apple Inc. needs steel, lather and woods as raw martial. Raw material go through different process of production to complete the product.For Capital Needs : Organization needs financial and backgroundsupport to organise the production functions. Capital is the source which fulfil the Organizational requirement such as cash requirement, purchaseand sales. Energy : Without energy source an Organization is unable to operate the production function. For an Organization electricity, fuel, gasand solar systems are the main sources to generate energy. To get Information : Product development is one of the key factor for an Organization. Professional and expert team applies their skills to gather the important and valuable information to innovate the product. There is huge knowledgeable experts team works in to gather the informations regarding design, style and functions of the product.(A) Functions of marketing: -The marketing department of the firm is accessible for
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promoting products and services in target market. It develops certain strategies and policies in order to attain and retain for customers for long term period. Marketing managers focuses on producing qualitative and value added products and services for increasing sales and productivity. How value chain system is interrelated with marketing functions are related as under : (Functions Of Supply Chain Management, 2016)Primary function : This function defines primary functions in five different wayInboundLogistics : this is the first stage of identifying raw data to prepare an marketing strategies.Operations : it helps to demonstrate the raw data in finished form to make approachable to management (Oliveira and Martins, 2010). Marketing managers uses different tactics and methods to mould raw data and information so that a specific meaning could come through out the process.Outboundlogistics : this step indicates towards how final reports and strategies are managed and stored in information system of an organisation.Marketingandsales : Sales and marketing activities helps to promote the product type in the market and also helps to increase the sale of the product.Services : Services contains the activities which helps to deliver the products to the end customers such as transportation, installation services etc. 1.Secondary or supporting functions : Procurement : It is an activity which provides administrative and Organizational needs to make effective marketing plans and policies.
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