MG408: Business Functions, Interrelation, and Organisational Goals

This essay, focusing on MG408, examines the critical role of business functions within an organisation and their impact on overall performance. It begins by defining business functions and emphasizing their importance in achieving organisational goals, particularly in delivering goods and services and creating stakeholder value. The essay explores the functions of marketing, human resources, finance, and operations, highlighting their individual contributions and their interconnectedness. Marketing is discussed in terms of providing goods and services, while human resources focuses on recruitment and employee management. The finance function is shown to be crucial for managing funds, and operations are highlighted for meeting demand. The essay emphasizes the interrelation of these functions, showing how they rely on each other to achieve success. It concludes by reiterating the significance of business functions in guiding workforce actions and improving overall performance and profitability. The references included are from academic journals and books.

MG408 The Graduate
Challenge

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Business function are the activities that are being carried on by an organisation to support
their different business functions. These functions plays a great role in achievement of
organisation goals and objectives (Kotarba, 2018). This essay discusses the role of different
business functions in yielding the finished products to its customers and services that are
intended to be provided to third party. This essay analyse the importance different business
functions holds in an organisation and their interrelationship with each other that help them to
attain growth and success in long run.
MAIN BODY
Business functions are significant and crucial factors of an organisation. It assigned
different top level authorities that are assigned with the core tasks of making different strategies
and plans that will help an organisation to accomplish their goals and objectives. There are many
business functions that took place different activities that is used to deliver the finished goods
and services to the ultimate customers, to build stakeholders value and other third parties. The
main purpose of business activities is to make profits out of their commercial activities that are
being undertaken. These business functions includes marketing function which helps in
providing the goods and services to the ultimate customers as per their needs and expectations.
Human resource function which are assigned the tasks to recruit and select the potential
employees that enables the organisation to perform their tasks efficiently. Production function
which evaluates the demand requirement and fulfil the same to hold a competitive edge. Finance
function, which is significant to manage the funds requirement of an organisation to manage
their day to day business operations or to invest in other areas to expand their business role. All
these functions are of core importance in an organisation and helps the organisation to increase
their overall productivity and profitability. These all functions holds an interrelation with each
other and are connected together to accomplished the set objectives (Gillmore, 2021). Marketing
department of an organisation are connected with finance, operations and human resources
which ensure them to have competent workforce, adequate inventory, loyal customer group and
adequate budget to conduct their business task efficiently. The finance are related with human
resource to have adequate staff for accounting, finance and other skills, which helps in managing
and allocation of funds appropriately . Human resources are interrelated to marketing, operations
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and finance which enables them to have adequate resources, proper training and development of
individuals, help to mains legal compliances within organisation to boost the morale of
individuals (Awan, Arnold and Gölgeci, 2021). Operations functions are interrelated to others as
it its helps to forecast and determine the needs and requirement that help the organisation to
retain a competitive role and achieve overall growth and success in marketplace.
CONCLUSION
From the above essay it is being concluded that business functions are key and dominant
components that direct actions of workforce for completion of different tasks and activities. It
discusses how different functions are interrelated and lead the organisation to improve their
overall performance to achieve their desired results and attain profitability.
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REFERENCES
Books and Journals
Awan, Arnold and Gölgeci, 2021. Enhancing green product and process innovation: Towards an
integrative framework of knowledge acquisition and environmental
investment. Business Strategy and the Environment, 30(2), pp.1283-1295.
Gillmore, 2021. Digital gamification of organisational functions and emergent management
practices. In Management and Information Technology after Digital
Transformation (pp. 149-158). Routledge.
Kotarba, 2018. Digital transformation of business models. Foundations of management, 10(1),
pp.123-142.
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