MG408 Graduate Challenge: CW1 Business Report on Functions

This report provides a comprehensive analysis of key business functions within an organization, specifically focusing on marketing, finance, operations/production, and human resources. It defines each function, highlighting its significance to organizational success. The report emphasizes the importance of these functions working together, illustrating how their integration enhances overall performance and achieves organizational objectives. It uses academic sources to support the analysis, demonstrating the interdependencies between functions and their collective impact on the organization. The conclusion synthesizes the discussed points, emphasizing the critical role of integrated business functions in achieving both individual functional effectiveness and overall organizational success. The report is based on the MG408 Graduate Challenge module assignment, demonstrating core academic skills of evidence-based writing and Harvard referencing.

CW1 Business Report

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Importance of functions working together..................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Business function can be defined as activities that are carried out by business
organisation. This report will discuss about functions carried out by M&S and their importance
in organisation along with how different functions link together.
MAIN BODY
Marketing Function
Marketing function can be defined as function that carry out all activities regarding
promoting M&S and increase sales of products of M&S (Godwin, 2019). Importance of
marketing in M&S is as follows-
 Help M&S understanding their customers better and link their needs with products of
M&S
 Marketing is important for M&S as it play role in creating and enhancing brand value
Finance Function
Finance function can be defined as function that carry out activities relate to acquisition
of funds, managing and investing them appropriately in M&S (Organisational Functions, 2020).
Importance of finance function in M&S is as follows-
 Important for effective management of day to day accounting
 For financial planning of departments and overall organisation so that M&S can achieve
its financial objectives effectively
Operations/Production Function
Operations/production function can be defined as function within organisation that is
responsible for converting input and raw material into output (Talavyria and et.al., 2016).
Importance of production function in M&S is as follows-
 Determination of required resources and material so that M&S can avoid shortage or
surplus of raw material and resources

 Production play highly important role in identifying practices to reduce cost, maintaining
and increasing quality of products of M&S
Human Resources Function
HR function can be defined as function that is related to carry out activities related to
employees of M&S, this involve hiring, compensation, training, labour relations and several
other functions for employees of M&S (Organisational Functions, 2020). Importance of HR
function in M&S is as follows-
 HR function is important to ensure that M&S has right number of and right kind of
employees in M&S competent and capable to carry out their respective roles in M&S
 Working as mediator in organisation and employees
Importance of functions working together
Function of M&S discussed above are highly important for ensuring that respective
activities related to functions are carried out effectively. But for success of M&S as a complete
organisation, it is important that these functions are working together. Their working together
facilitates and enhances each others’ performance. Certain ways these function link together and
are important as follows-
HR functions ensures that every other function is organisation has right kind of and competent
employees and also ensure training, performance appraisal and compensation of employees of
different functions like marketing, finance and production (Ferreira, Pimenta and Wlazlak,
2019).
Finance function in M&S ensures that production, marketing functions are able to perform
according to financial objectives of organisation. They also help in budget of different
departments.
Marketing function and production function are linked together as marketing communicate
customers requirements to production and production work accordingly for product
development.

CONCLUSION
On the basis of above discussion it can be concluded that link and working together for
different function is very important for their individuals as well as organisational effectiveness
and success.

REFERENCES
Books and Journals
Ferreira, A.C., Pimenta, M.L. and Wlazlak, P., 2019. Antecedents of cross-functional integration
level and their organizational impact. Journal of Business & Industrial Marketing.
Godwin, L.R., 2019. The ultimate definition of marketing. Marketing Review. 19.
Talavyria, M.P and et.al., 2016. Approaches to the definition of production determinants of bio-
oriented economy. Економіка АПК. (7). pp.39-44.
Online
Organisational Functions. 2020. [Online]. Available Through: <
https://www.learnmanagement2.com/ORGANISATIONAL%20FUNCTIONS.htm>.