OTTY SHAMBARE Graduate Challenge CW1 Business Report Analysis

This business report, submitted for the Graduate Challenge, examines the core functions of a company, including marketing, finance, human resources, and operations/production. The report defines each function and highlights its importance, such as marketing's role in brand awareness and sales, finance's management of funds, human resources' workforce planning, and operations' role in converting raw materials into final goods. Furthermore, the report emphasizes the interconnectedness of these functions, asserting that effective communication and collaboration are crucial for achieving organizational goals and gaining a competitive advantage. The report concludes by reiterating the need for companies to integrate these business functions to ensure success. References from academic sources support the discussions.

OTTY SHAMBARE
Graduate Challenge
CW1 Business Report-
Word Count 500

Table of Contents Page Numbers
1.1 Executive Summary 3
1.2 Introduction 4
1.3 Marketing 4
1.4 Finance 4
1.5 Human Resources 4
1.6 Operations/ Productions 5
1.7 How Business Functions Link 5
1.8 Conclusion 5
1.9 References 6
2

1.1 Executive Summary
This document has given definitions and importance of all the main business
of a company like Marketing, Finance, Human Resources and Operations/Production
Unit. Lastly, it also showed link among all the departments, which lead the firm to
gain competitive advantages and also to conduct daily activities in order to sustain
within the market for a longer period of time.
3

1.2 Introduction
This report is going to be enclosed with importance of various functions of a
company. Primal objective of conducting this written report is for better
understanding of business functions and how their interrelation aid a firm in meeting
desired goals and objectives.
1.3 Marketing
In business context, Marketing can be defined as promotion of different quality
products and services offered by a company in order to gain the attention of potential
customers. This business function stays enclosed with advertising and market
research as well (Kakwezi and Nyeko, 2019).
Importance of Marketing:
Primal importance of marketing function is that it helps in building the brand
awareness among potential customers. Also, it aid a company in boosting sales of a
product, aid in growing business and it improves customer loyalty as well.
1.4 Finance
This business function can be defined as a department, which specifically
manages the funds (money) of the company. It majorly stays enclosed with different
elements like organizing, planning, accounting, auditing, controlling and monitoring
the organisation's finance.
Importance of finance business function:
Significance of finance department of a company is that, without proper funds,
any sort of task or operations cannot be done in a smooth manner. On the other
hand, it can also be said that, finance is said to be one of the source that helps any
organization through preparing budgets for various operations.
1.5 Human Resources
Human Resources can be considered as a crucial function that helps a
company in managing workforce planning. It stays enclosed with various benefits in
4

relation to compensation, hiring, recruiting staff, on-boarding staff, performance
administration, company's culture & development along with training as well.
Importance of Human Resources:
Primal significance of Human Resources is that a company could effectively
develop a much effective and positive business culture. Also, it helps a company in
engaging staff through improvising productivity considering training sessions and so
on.
1.6 Operations/ Production
Production or Operations Management can be defined as process that helps
a firm in converting resources, raw materials in final goods. Including this, it is said
that production unit of a company, consists of controlled, defined along with the
repeatable policies, which helps in hitting number of targets while operating business
within the market (Sanders and Wood, 2019).
Importance of Operation management:
Importance of Operation management, is obligatory for a number of firms that
helps them in maintaining number of daily activities in a much more smooth manner.
1.7 How Business Functions link Together
In present time, all the business functions like marketing, operations
management, finance, human resource and more are linked with an organisational
structure of a company. It is said that, proper communication among all functions
would lead the company to hit their desired targets in a specified time frame.
Along with this, it is also said that it is needed by managers of all the
departments to build effective relations with each other so that goals can effectively
be attained right on time (Zabukovšek, Tominc and Bobek, 2020.).
1.8 Conclusions
With the help of above mentioned report, it is concluded that every single
company needs to have proper link among all the business functions. Through this, it
is said that company could effectively gain number of competitive advantages
through attaining number of goals and objectives.
5

1.9 References
Books and Journals
Kakwezi, P. and Nyeko, S., 2019. Procurement processes and performance:
Efficiency and effectiveness of the procurement function. International
Journal of Social Sciences Management and Entrepreneurship
(IJSSME), 3(1).
Sanders, N. R. and Wood, J. D., 2019. Foundations of sustainable business: Theory,
function, and strategy. John Wiley & Sons Incorporated.
Zabukovšek, S. S., Tominc, P. and Bobek, S., 2020. Business Informatics Principles.
In Spationomy (pp. 93-118). Springer, Cham.
6