Understanding the Global Business Environment - Report
Added on - 21 Jul 2020
Understanding the Global BusinessEnvironment - Project(4IM510)Please follow the instructions below and use thetemplates to present your work.
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 writtenactivities designed to test your appreciation and understanding of somekey business functions. Using the templates set out on the followingpages, use a range of appropriate academic underpinning to explore andexamine the purpose and value of some key business functions. You willbe able to choose which business functions you want to examine(forexample, you might choose Operations Management, Marketing,or Human Resources Management).You can choose any element oftheValue Chain (Porter 1985), whether Primary or Support function /activity.
Name of Business Function 1:Total Available Marks -35 marksInstruction 1: In 800 – 900 words outline the purpose and value of thebusiness function (e.g. Marketing, HRM) to an Organization and how thefunction links to other functions of the value chain.Instruction 2: You must use five (5) ( no more than 5) appropriateacademic sources to underpin your work-to be listed at the end of thissection 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 operationdepartments. This functions helps the Organization to met the targetsand goals (Voegtlin, Patzer and Scherer, 2012.). The below are the purpose andimportance of functions are discussed for an Organization.To frameDesign of product :Production department of anOrganization know as ground and important department of theOrganization (Wang, Wang and Yang, 2010.). Production department of thecompany operates different factors of production department such asFulfillingLabour requirement: Labour is the physical andmental strength of the Organization who make their efforts to producethe product or services whit their skills and knowledge. Apple Inc. recruithigh skilled and professional labour to make their product perfect andluxurious.MaterialRequirement: Any manufacturing and goods companyneeds raw material requirement to convert it from raw material tofinished product. As Apple Inc. needs steel, lather and woods as rawmartial. Raw material go through different process of production tocomplete the product.For Capital Needs: Organization needs financial and backgroundsupport to organise the production functions. Capital is the source whichfulfil the Organizational requirement such as cash requirement, purchaseand sales.Energy: Without energy source an Organization is unable tooperate 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 keyfactor for an Organization. Professional and expert team applies theirskills to gather the important and valuable information to innovate theproduct. There is huge knowledgeable experts team works in to gatherthe informations regarding design, style and functions of the product.(A) Functions of marketing: -The marketing department of the firm is accessible for
promoting products and services in target market. It developscertain strategies and policies in order to attain and retain forcustomers for long term period. Marketing managers focuses onproducing qualitative and value added products and services forincreasing sales and productivity.How value chain system is interrelated with marketing functions arerelated as under :(Functions Of Supply Chain Management, 2016)Primary function: This function defines primary functions in fivedifferent wayInboundLogistics: this is the first stage of identifying raw data toprepare an marketing strategies.Operations: it helps to demonstrate the raw data in finished formto make approachable to management(Oliveira and Martins, 2010).Marketing managers uses different tactics and methods to mould rawdata and information so that a specific meaning could come through outthe process.Outboundlogistics: this step indicates towards how final reportsand strategies are managed and stored in information system of anorganisation.Marketingandsales: Sales and marketing activities helps topromote the product type in the market and also helps to increase thesale of the product.Services: Services contains the activities which helps to deliverthe products to the end customers such as transportation, installationservices etc.1.Secondary or supporting functions:Procurement: It is an activity which provides administrative andOrganizational needs to make effective marketing plans and policies.