Report on Business Functions: Importance and Interrelationships

This report provides an overview of essential business functions, including marketing, finance, human resource management, and operations, highlighting their individual importance and the critical linkages between them. Marketing is identified as vital for revenue generation and customer engagement, while finance ensures accurate financial records and strategic direction. Human resources focuses on talent management and development, and operations acts as a catalyst, overseeing the other functions. The report emphasizes that the interdependence of these functions leads to increased productivity, shared responsibility, and improved communication, ultimately contributing to the overall success of the organization. The conclusion underscores that the effectiveness of a business relies on the collaborative and interconnected nature of all its functions.

CW1 Business Report

EXECUTIVE SUMMARY
The business functions are said to be the activities which are needed to be carried out by
an enterprise which can be divided into the different core functions and support functions. The
functions of the business are marketing, finance, operations and human resource management.

TABLE OF CONTENT
INTRODUCTION ..........................................................................................................................4
MAIN BODY...................................................................................................................................4
Importance of the business functions and how they are linked with each other..........................4
Link between the business functions...........................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
The business function are said to be the method or the business functions which are
collected with the related, structural activities and tasks in the organization. The different
business functions are marketing, finance, human resource and operations.
MAIN BODY
Importance of the business functions and how they are linked with each other
Marketing:
Marketing is said to be the most important as it helps in selling the products and services.
It is said to be the bottom of the business which help in making money and marketing of the
essential channel for reaching the end goal. With the help of marketing function the business will
not be able to exists in the eyes of many customers. This function is said to bridge the gap
between the customers and the business. For the other business functions to be gaining
effectiveness in the business it is essential for the organization to have marketing (Chaney, Rees
Jones and Fevre, 2021).
Finance:
It is the function which help the business in ensuring the financial records whether they
are accurate or not. It helps in ensuring the financial records which are said to be accurate and
kept up to date. Finance function helps the business in the determination of the business strategy
and direction as well as the contribution of the objective of the organization. The main
importance of this function is that without the help of this function the other function cannot be
operated.
Human Resource:
In the business the HR plays an important role in the management of the employees in the
organization. It helps in the determination of the management, training and development,
recruitment and on boarding of the individuals in the business. This function is interrelated with
other functions because it helps the business with talented individual which are said to be
successful towards the implementation of the business performances.
Operations:
The functions of the operations is to act as the catalyst to all the other function of the
business which will help the business in the management of the organization. It is said to be the

centre of the organizational in which it helps in overseeing the different functions of the business
which acts as the business which is considered to be the mechanism for controlling the
operation's management.
Link between the business functions
KFC needs have all its business functions work together. Thus, for the following reason
the business functions in the organization perform together (Kaatz, Jacobs and Wasley, 2018).
Productivity increases:
With the proper balance in the marketing, financing, HR practices and ongoing
operations the business is able to increase its productivity.
Taking responsibility:
The dependency upon each other makes these function responsible towards one another.
Improves communication:
Strong communication is essential for the collaboration of all the business function to
work efficiently for the business (Reasons why business function should work together for
overall success, 2018).
CONCLUSION
From the above project it can be concluded that all the business function of the
organization are said to be interdependent on each other which is what makes them effective for
the business.

REFERENCES
Books and Journals
Chaney, P., Rees Jones, I. and Fevre, R., 2021. Exploring the Substantive Representation of
Non-Humans in UK Parliamentary Business: A Legislative Functions Perspective of
Animal Welfare Petitions, 2010–2019. Parliamentary Affairs.
Kaatz, L., Jacobs, K. and Wasley, E., 2018, December. Mapping Climate Exposure and Climate
Information Needs to Water Utility Business Functions. In AGU Fall Meeting
Abstracts (Vol. 2018, pp. PA33F-1198).
Online
Reasons why business function should work together for overall success, 2018[Online].
Available through: <https://www.abpmp.org/blogpost/1626809/299508/Reasons-Why-
Business-Functions-Should-Work-Together-for-Overall-Success>