Business Report: Roles of Business Functions and Relationships

This business report delves into the roles of key business functions within an organization, including marketing, finance, human resources, and operations. It outlines the responsibilities and practical examples of each function, such as marketing's role in meeting consumer needs, finance's role in financial management, HR's role in employee management, and operations' role in efficient production. The report emphasizes the crucial importance of interdepartmental relationships and coordination for achieving organizational objectives. The report uses Sainsbury as an example to explain the business functions.

Business Report
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Table of Contents
Main body........................................................................................................................................3
1 Roles of business functions......................................................................................................3
2. Importance of relationship between departments...................................................................4
References........................................................................................................................................5
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Main body
1 Roles of business functions
In an organisation, there are separate departments or functions existing to perform
different tasks. Tasks performed by these departments are in accordance of personnel's academic
and professional skills. Roles and responsibilities of major business functions are described
below along with their practical examples:
Marketing:
This function refers to all those activities which are performed to make goods and
services available to customers.
 Role of marketing: Role of marketing is to basically meet consumer's needs and wants
as well as making them align with organisational objectives. It helps a company to make
a impact in wider market and also in offering better products and services (Hawkins, and
Mothersbaugh, 2010).
 Example: Best practical example of this function is marketing strategies of Sainsbury,
which is a leading smoothie company in United Kingdoms. One of the strategy adopted
by company is “Nectar 360 launch”, where focus is to bring together business to business
agencies and its programme to let brands better identify and reach to customers and
provide them clear view of their offerings.
Finance:
This department of organisation is concerned with management of financial resources of
company. It includes acquisition and optimum utilization of funds essential for smooth
operations in business.
 Role of finance: The backbone of an organisation is its financial base and thus, it
requires to manage concerned operations in an efficient manner. Role of finance is
basically related with financial management which means to strengthen company's
financial position. Cost efficient acquisition of fund and their optimum utilization is
major role that a finance manager play (Ayyagari, Demirgüç-Kunt and Maksimovic,
2011).
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 Example: Best example for this purpose can be Sainsbury, which is a supermarket giant
in UK. They are so strong financially due to proper transparent and distribution system
and effective management of financial resources.
Human Resource:
This department refers to those who work for organisation and that department which is
responsible for managing other employees of that company.
 Role of Human Resource: The very major role of HR department is that they recruit and
select employees for the vacant position. They are also responsible for formulating
compensation plans in company. Other roles relate to training, employee relations,
managing grievances of employees, etc.
 Example: The best example in this regard is of Sainsbury. It is a supermarket chain
which is on leading position. Reason behind their success is their effective human
resource management. They have established first worker academy decade ago which
helps in developing innovating quality in employees. (HR practices, 2020)
Operations/ Production:
The basic purpose of this department is to facilitate smooth and profitable production in
organisation.
 Role of operations department: The main role of this department is to keep running the
business in an efficient manner. If production stops abruptly, than it will lead to stoppage
of every other function. This department ensures that standard quality is served to
customers.
 Example: The best example in this context is Sainsbury. It is leading multichannel and
multi brand business in UK, this has become possible due to their efficient production
and operation facility. Their USP in market is their strong retail channels, which is a
major role of operations department.
2. Importance of relationship between departments
It is very important that different departments within an organisation have good
coordination within them as it improves communication between them. Without any
communication, it will become impossible for managers to attain organisational objectives, as
every department's working is interdependent on each other. For instance, production department
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need to know forecasted sales from marketing department to initiate production. Another
example can be dependence of every department in finance department for funds. These above
mentioned examples clearly shows that relationship between every department is of utmost
importance.
References
Books and Journals
Ayyagari, M., Demirgüç-Kunt, A. and Maksimovic, V., 2011. Firm innovation in emerging
markets: The role of finance, governance, and competition. Journal of Financial and
Quantitative Analysis. 46(6). pp.1545-1580.
Hawkins, D.I. and Mothersbaugh, D.L., 2010. Consumer behavior: Building marketing strategy.
Boston: McGraw-Hill Irwin,.
Online
HR practices. 2020. [Online]. Available through: <https://www.humanresourcesmba.net/worlds-
30-innovative-corporate-human-resources-departments/>
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