Graduate Challenges Report: Business Function Roles and Importance

This report analyzes the roles of key business functions including marketing, finance, operations, and human resources in the context of graduate challenges. It delves into the specific responsibilities of each function, such as marketing's role in promotion and customer relations, finance's role in managing funds, human resources' role in staffing and development, and production and operation's role in efficient manufacturing. The report emphasizes the importance of these functions working together for organizational success, using the example of Asda to illustrate how departments like HR, marketing, and finance are interconnected and reliant on each other. The conclusion highlights the necessity of integrated business activities for organizational development and the inter-departmental relationships that support this integration.

Graduate
Challenges

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Discuss the role of marketing, finance, operation and production and human resource. ...........1
Importance of function working together for organisation success along with examples..........2
CONCLUSION................................................................................................................................2
REFERNCES...................................................................................................................................3

INTRODUCTION
A graduate challenge is defines about a degree received after completing academic
courses. But in business terms, it is functions which consists important activities to perform for
commence the organisation successful effectively (Durach and Machuca, 2018). As it segregate
into two categorise named a core function that determining revenue and income generates task.
MAIN BODY.
Discuss the role of marketing, finance, operation and production and human resource.
Role of marketing: The process of distribution, selling, promoting and manufacturing of
product and services. It plays an important role as to assess with understanding with analysation
of needs and wants of consumer that helps to fulfil it (Karkar-Esperat, 2018). In Asda, their
marketing team used to putting their expenses for promotion, building customer relationship and
advertising to attracting customer as well as generating revenue.
Role of Finance: To managing, collection and procuring of funds to required funds for
successfully optimise the financial stability of company. In the context of Asda, finance usually
bring success as well as by reduce uncertainty (Pardo and et. al., 2020). By handling day to day
transciation which are highly required, assessing financial positions, controlling, cash flows and
having effective decision making that estimated on actual performance.
Role of Human resource: This performs task which relates to planning, hiring, staffing ,
controlling and development of human resource in particular organisation. In terms of Asda,
for generating manpower and forming policies related with working process as well as help to
building strong relationship with employee and manager. By providing training and development
for improvising skills and knowledge (Malik, Pereira and Tarba., 2019).
Role of Production and Operation: It performs an important role as in high efficient
management of all activities that relates with manufacturing of product and services by
implementing optimum raw material. In situation of Asda , the role of production and operation
directs to work together by better consumption as well as quality of product manufacturer (Mok
and Jiang, 2018). The operation department scrutinize of stock availability in the organisation
that helps for making records of sales, right amount of information related with price. .
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Importance of function working together for organisation success along with examples.
As above discussion of Asda Stores company's role department in premises but the
relationship between these department is having vital role where they interrelated with each other
(Paroussos, Fragkiadakis and Fragkos., 2019). For Example: The human resource department is
having link with marketing, production and finance as HR provides manpower as well as salaries
is to be made by them (Zwikael and Meredith., 2018). Finance department in Asda support to
marketing, production and others as facilitates of finance where they can presumes their working
activities in effective manner (Sun, Price and Ding., 2019). In other hand, Marketing department
of Asda helps to promote about activities which is needed to Human resource, finance and
production department to accomplish their targets.
CONCLUSION
In above discussion the summarisation is measured where optimum function of business
activities are essential for selected organisation development in market. Different department is
having role in production, HR, marketing and finance pursue their business together in flexible
to entire firm. After each department is having inter relation with other department as HR with
Marketing, production and Finance for providing manpower.
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REFERNCES
Books and Journals
Durach, C.F. and Machuca, J.A., 2018. A matter of perspective–the role of interpersonal
relationships in supply chain risk management. International Journal of Operations &
Production Management.
Karkar-Esperat, T.M., 2018. International graduate students’ challenges and learning experiences
in online classes. Journal of International Students. 8(4). pp.1722-1735.
Malik, A., Pereira, V. and Tarba, S., 2019. The role of HRM practices in product development:
Contextual ambidexterity in a US MNC’s subsidiary in India. The International Journal
of Human Resource Management. 30(4). pp.536-564.
Mok, K.H. and Jiang, J., 2018. Massification of higher education and challenges for graduate
employment and social mobility: East Asian experiences and sociological
reflections. International Journal of Educational Development. 63. pp.44-51.
Pardo and et. al., 2020. Advancing Through the Pandemic From the Perspective of Marine
Graduate Researchers: Challenges, Solutions, and Opportunities. Frontiers in Marine
Science. 7. p.528.
Paroussos, L., Fragkiadakis, K. and Fragkos, P., 2019. Macro-economic analysis of green growth
policies: The role of finance and technical progress in Italian green growth. Climatic
Change, pp.1-18.
Sun, W., Price, J. and Ding, Y., 2019. The longitudinal effects of internationalization on firm
performance: The moderating role of marketing capability. Journal of Business
Research. 95. pp.326-337.
Zwikael, O. and Meredith, J.R., 2018. Who’s who in the project zoo? The ten core project
roles. International Journal of Operations & Production Management.
Online
Why is it important to combine function in business. 2020. [Online]. Available
through<https://smallbusiness.chron.com/important-combine-functions-business-
39866.html>.
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