Business Functions: Production, Marketing, HR, and Finance Report

This report examines the critical roles of various business functions within an organization. It highlights the significance of production in ensuring quality and timely delivery of goods and services, emphasizing its interdependence with marketing. The report also underscores the importance of marketing in customer engagement and competitive analysis, using Apple's marketing strategy as an example. Furthermore, it details the crucial role of Human Resources (HR) in talent acquisition and employee motivation, citing FedEx's HR practices as a case study. Finally, the report emphasizes the vital role of finance in managing funds and supporting all other business functions, with Tesco's financial strategies serving as an example. The report concludes by referencing several academic sources that support these key business functions and their importance.

Business Report

Table of Contents
Explaining an importance of several business functions in an organisation...............................3
REFERENCES................................................................................................................................5

Explaining an importance of several business functions in an organisation
Production- It acts as major function of an enterprise that relates with creation or
production of the goods and the services by following certain processes. This function plays an
important role in ensuring quality production of the goods and the services in an adequate
quantity (Pape, 2016). It helps in meeting the particular time schedule and delays. Without
production function, marketing department cannot meet demand of the customers in term of
timely delivery of the goods. Similarly, without marketing function, an operation department
cannot produce the product in accordance to the specification of the customers. Moreover, this
business function helps in making optimum use of resources so that low cost is incurred in
manufacturing the goods and gaining higher profits.
Marketing- It is the process of the getting the goods and the services into hand of
customers with an objective to satisfy desire & needs of the producers and the consumers. This
function plays a crucial role in communicating with the target customers in a best manner by
using promotional activities and an advertising tool. Effective marketing strategy helps in the
company in achieving long run success and the growth in the market. It also helps in keeping
view on the activities of the rivalry or the competitor. For example- Apple company had
developed a marketing strategy named as Velvet Caviar that has dominated market for the
iphone Xs Max Case.
HR- It acts as the most essential function of the business and an important asset within
the business. This function is indicated as heart of an enterprise that lies on its people. Without
HR department, routine or day to day operations of the business world ceases to function
smoothly. Success of an organisation relies on hands of employees performing the task in an
entity (Heikkilä, Kaipia and Ojala, 2018). It is the function that helps in recruiting the best
talent with required skills, experience and the qualification. Without this function, operations
department cannot achieve efficiency and effectiveness in working of the task within the
workplace.
For example- FedEx corporation attained success by developing best HR practice that is
People service Profit under which the employees are been cared in an excellent way so that they
remain motivated and satisfied that in turn increases productivity and efficiency of the company.
Finance- This function is stated as the lifeblood of an organisation as it deals with managing
effective procurement and allocation of the funds for generating large amount of profits. Without

finance function, company cannot operate its other function because without cash or financial
resources, no any functions of the business can be carried out (Painter and et.al., 2019).
Therefore, this function plays a critical role in managing the money, financial condition of the
firm in effective manner. It also helps the other functions or departments in running their
operations, processes, recruitment, training, marketing of the products and services in an
adequate way.
For example- Tesco with its finance department has achieved maximum profits by
effective allocation of its funds in the profitable projects.

REFERENCES
Books and Journals
Heikkilä, J., Kaipia, R. and Ojala, M., 2018. Purchasing category management: providing
integration between purchasing and other business functions. International Journal of
Procurement Management. 11(5). pp.533-550.
Painter, M. and et.al., 2019. Sharing vocabularies: Towards horizontal alignment of values-driven
business functions. Journal of Business Ethics. 155(4). pp.965-979.
Pape, T., 2016. Prioritising data items for business analytics: Framework and application to
human resources. European Journal of Operational Research. 252(2). pp.687-698.