MG408 Graduate Challenge: Business Report on Business Functions

This report, prepared for the MG408 Graduate Challenge module, examines the significance of various business functions, including marketing, finance, and human resources, and their interconnectedness in achieving organizational goals. The report defines the roles of these functions, emphasizing the importance of effective collaboration for business success. It also highlights the essential academic skills, such as research and interpersonal skills, required for undergraduate students to excel. The report uses evidence-based writing and Harvard referencing to support its arguments, drawing upon academic texts to illustrate the concepts discussed. The report emphasizes the need for effective strategies and frameworks within finance and marketing to achieve success and the role of human resources in recruiting and motivating employees. The report underscores the importance of continuous skill development for undergraduate students.

CW1 Business Report

Table of Contents
Importance of different business functions .....................................................................................3
Necessary academic skills to be a successful undergraduate student..............................................3
REFERENCES ...............................................................................................................................5
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Importance of different business functions
Marketing and Finance:
There are different functions in the business environment which have different roles and
responsibilities that are done for attaining organisational goals. Marketing is known as the
process for analysing the needs and demands of customers and making proper products and
services for them. The two functions within business are finance and marketing. The main
objective of marketing is to attract more customers towards products and services that the
company offers. On the other hand, finance has the function to analyse how money can be
controlled and all activities are done in proper budget. A successful business needs both good
finance and good marketing. Marketing is the source to profit sales and revenue and also it assist
in brand awareness, promotion as well as advertising. The finance helps any business to expand
it's market share and become one of the leading companies (Shulskyi, 2019). There is
requirement of proper strategies and frameworks of the finance as well as marketing for
achieving of success in business.
Marketing and Human Resource:
Business environment depends upon talented and skilled workforce. The other
department which takes care of all the recruiting, selection, training and development sessions is
human resource department. The main objective of having a human resource function within an
organisation is to manage and control all the issues and problems related to the employees
working in the company. Marketing is done for recruiting the best candidate who can fit into the
organisation. It is ensured by the companies that all companies are undergoing effective
marketing which helps in attracting more number of talented candidates for joining the company.
These both functions go hand in hand for success of the company. The human resource manager
has the responsibility to encourage and motivate employees so that they work hard for achieving
organisational goals.
Necessary academic skills to be a successful undergraduate student
Skills are defined as the ability or reach of a person in order to perform any activity or
task. Each and every student must have good skill and knowledge for attaining organisational
goals. For a successful student, it is important that he has proper skills and knowledge about

various topics. Some skills like interpersonal skills are those in which there is presence of
interaction with different individuals (Bellanca, Fogarty, and Pete, 2019). Other skill like
research skill is also important for doing projects and activities within the academic life. It is
essential for a student to have good and effective research skills for managing all activities and
doing assignments in proper manner. Both research skills and interpersonal skills are helpful for
students to behave effectively and attain success in academic life. This also helps in increasing
career growth and development. It is basically depends on students that how they can attain
success. The most important thing is to enhance their skills on regular basis. Undergraduate
students are at learning process thus they have ability to acquire and change themselves into a
valuable asset. This is helpful for managing the personal as well as professional life effectively.

REFERENCES
Books and Journals
Bellanca, J.A., Fogarty, R.J. and Pete, B.M., 2019. How to Teach Thinking Skills: Seven Key
Student Proficiencies for College and Career Readiness. Solution Tree.
Shulskyi, M., 2019. Management functions: their unity and interdependence in the processes of
activity. Scientific Messenger of LNU of Veterinary Medicine and Biotechnologies.
Series Economical Sciences, 21(93), pp.58-62.