Exploring Business Functions and Success: MG408 Graduate Challenge

This report defines four significant business functions: marketing, finance, operations/production, and human resources, highlighting their importance in achieving profit and satisfying human wants. Using Virgin Atlantic as a case example, the report demonstrates how the effective integration of these functions contributes to organizational success in a competitive international marketplace. The analysis draws on academic texts to support the discussion, emphasizing the need for each function to work in synergy to achieve organizational objectives and sustain competitive advantage. The report concludes that a well-managed and coordinated approach across all business functions is crucial for gaining success.

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Business Report
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Essay
Business is one of the economic activities that is concerned with marketing, finance,
operation/production and human resources management along with various other components
to achieve profit earning objective and satisfying human wants. The following essay will
define four significant business functions, following a case example that shows how working
together well of different roles bring success in businesses.
In organisations, marketing is the only way that helps managers determine its best
opportunities after considering available resources and objectives. Marketers shall urge their
respective companies to continually and critically gauge their consumers expectations and
meet or exceed their expectations gradually. In order to accomplish such role, organisations
every department focuses on understanding reasons behind serving consumers and if every
other function does not show involvement, it becomes difficult for the organisations to
succeed (Kamugisha, 2017).
Finance is another significant business function that proves to be very crucial for
sustenance and success since it engages financial related activities of the organisation.
Operational activity is also handled by finance department to some extent as they are
responsible for meeting every operational expense like raw materials, remuneration,
inventories’ etc. for smooth functioning of business activities along with making future
predictions related to external factors to bear consequences related to it (Kamugisha, 2017).
Production can be defined as creation of products or services in which production
function turns inputs like raw materials, capital and human resources into outputs also known
as finished goods or services. To manage such conversion process, the role of operations
management proves to be important and the entire conversion process can be defined as
production planning. This planning allows organisations consider competitive environment

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and strategic goals to find best methods for carrying production/operation roles (Battistoni, et
al., 2013).
Human resources are often considered as backbone of organisations as it plays key
role in managing most important asset of the firms i.e. human capital. The role of human
resources management can be classified broadly into individual and organisational needs in
which HR managers performs their responsibilities that allows organisations respond to
evolving internal and external influences. In short, human resources carries activities that
attract efficient employees and monitor programmes to meet organisational objective
( Aslam, et al., 2013).
One of the major airlines of UK, Virgin Atlantic can be used as an example that
shows how the company succeeds with well manged business activities while working in an
international marketplace. The marketing strategies of the company shows that Virgin
Atlantic always has something new to offer its customers which no other airlines do. The
financial management of the company also seems to be in sync as seen in its growth over past
30 years. The company keeps investing upon resources like technology, fuel and latest
aircrafts to gain competitive advantage through smooth functioning of its core operational
activities. The human resource function of Virgin Atlantic believes in building links with
employees of every department to ensure that every people working for the organisations are
motivated to support company’s vision (Virgin Atlantic , 2016).
The above essay demonstrated significance of different business functions and how
they link together to bring success in businesses. According to present literature, it is evident
that every business role contributes in brining organisational success. The success seen in the
case of Virgin Atlantic shows how working together well is significant for gaining successes
in business.

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References
Aslam, H. D., Aslam, M., Ali, N. & Habib, B. (2013) 'Importance of Human Resource
Management in 21st Century: A Theoretical Perspective', International Journal of Human
Resource Studies, 03(03), p. 87-96.
Battistoni, E., Bonacelli, A., Colladon, A. F. & Schiraldi, M. M. (2013) 'An Analysis of the
Effect of Operations Management Practices on Performance', International Journal of
Engineering Business Management, 05(44), p. 1-11.
Kamugisha, E. R. T. (2017) The Basics of Business Management - Vol I: Leadership,
Financial Management and Economics. 1st ed. s.l.:The eBook Company.
Virgin Atlantic, (2016) Virgin Atlantic: Annual Report 2016.
Available at:
https://www.virginatlantic.com/content/dam/vaa/documents/footer/mediacentre/
VAL_FY16_Annual_Report.pdf
(Accessed: 24 March 2019).