Business Functions: Marketing, Finance, Operations, and HR's Role

This report provides an overview of the core business functions within an organization, including marketing, finance, operations/production, and human resources. It highlights the specific roles and responsibilities of each function, such as marketing's focus on customer satisfaction and market share, finance's role in fund management, operations' role in transforming inputs into outputs, and human resources' role in employee management and development. The report emphasizes the crucial importance of coordination and collaboration between these functions to achieve organizational goals efficiently and effectively. It explains how this coordination leads to improved communication, productivity, and resource utilization, ultimately contributing to the overall success and growth of the business. The report concludes by reiterating the necessity of these interconnected departments working together towards shared objectives.

Importance of different
business functions

Table of Contents
INTRODUCTION................................................................................................................................3
Role of marketing............................................................................................................................3
Role of finance.................................................................................................................................3
Role of operations/Production.........................................................................................................3
Role of Human Resource.................................................................................................................3
Importance of coordination of marketing, finance, operations/Production & Human Resource
working together..............................................................................................................................4
CONCLUSION....................................................................................................................................4
REFERENCES.....................................................................................................................................5

INTRODUCTION
The business function is the function of an organization which is responsible for performing
various functions of the business such distributing or assigning of various resources or assets at the
right place & at the right time. It can be termed as organizational function which is responsible for
managing and planning of various activities within the organization. These business functions work
together in order to achieve organizational goals, objectives & missions effectively as well as
efficiently.
Role of marketing
The main role of marketing is ensuring reputation, growth & survival of the organization.
Marketing plays an important role in achieving the objective of the organization. Survival of
business mainly depends on retaining customers & increase in market share. Thus. Marketing
ensures satisfactory of consumers beyond their expectation (Bustinza and et.al, 2015).
Role of finance.
Finance in any organization is the function which has the responsibility of planning of
expenditures of fund of several essentials, management of fund in the company & the most
important arranging funds for the company. Financial Management is the department of
organization which is for the undertaking of finance functions. Thus, this department ensures that
management of resources to meet firms goals & objective.
Role of operations/Production.
The department of an organization which is in charge of transforming resources or inputs
into the end product or the final product or service which is desired by the consumer. This process
of production is taken out by set of repeatable, controllable & defined policies. These policies'
means rule which add value to end product,
Role of Human Resource
For any organization the employs working there are the most important resource for that
company. These employees are the human resource for that organization. The role of human
resource management is responsible for development of strategy to retain employee, development
of policy which is workplace related & employing individuals for the company. Training &
compensation of employees is also done by HRM.

Importance of coordination of marketing, finance, operations/Production & Human Resource
working together.
In an organization every employee is dependent on the other fellow employee, in order to
complete the work efficiently. Coordination of employees is very essential in an organization. With
this coordination of employees it has been observed that task taken out by contribution gives the
outcome which is far better than working individually. Thus, in this way individuals of similar
specialization & interests tends to came together on common platform to perform their task
effectively. The various importance of working of marketing, finance, operations / production &
human resource together is as follows : accomplishment of tasks is achieved at the faster rate,
coordination establishes healthy competition among the employees as well as establishes good
relationships. Working of all the department of the organization benefit in improving data
accessibility, establishing better communication, improvement in the productivity, one stop service,
robust growth of the organization as well as of employee, unity of direction, lesser disputes &
optimum utilization of various resources (Andersson, Forsgren and Holm, 2015).
CONCLUSION
This report can be summarized as, an organization has different departments, and each
department performs different functions. These functions are the role performed by the marketing
department, finance department, production or operation department & human resource department
of the organization in order to get the final product or services. Moreover, this report also concludes
that all these different departments of the organization work together in order to achieve the goals &
objectives efficiently.

REFERENCES
Books and journals
Bustinza and et.al, 2015. Servitization and competitive advantage: the importance of organizational
structure and value chain position. Research-Technology Management, 58(5), pp.53-
60.
Andersson, Forsgren and Holm, 2015. Balancing subsidiary influence in the federative MNC: A
business network view. In Knowledge, Networks and Power (pp. 393-420). Palgrave
Macmillan, London.