Regent College MG408 Graduate Challenge: Business Functions Report

This business report, submitted for the MG408 Graduate Challenge at Regent College, London, analyzes the crucial roles of marketing, finance, operations/production, and human resources within an organization. The report defines each function, supported by academic texts and real-world examples such as Tesco, NHS, and ASDA, highlighting their significance in driving business success. It emphasizes the importance of departmental collaboration, demonstrating how interconnectedness and effective communication between these functions contribute to revenue generation and overall market competitiveness. The report, adhering to academic standards with Harvard referencing, underscores the essential nature of these functions as pillars for company growth and success. It provides insights into how these departments are interconnected, contributing to the success and revenue generation of a company.

Running Head: BUSINESS REPORT
Business Report
Name of the Student:
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Table of Contents
Introduction................................................................................................................................2
Role............................................................................................................................................2
Marketing...............................................................................................................................2
Finance...................................................................................................................................2
Operation................................................................................................................................3
Human Resource....................................................................................................................3
Importance..................................................................................................................................3
Conclusion..................................................................................................................................4
References..................................................................................................................................5

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Introduction
The main aim of the report is to find out the role of marketing, finance as well as
operations/production and human resources with a suitable example. The report will also
demonstrate the importance of the department to work together.
Role
Different departments are present in an organization and the part of every department
is essential for the growth of the organization in the marketplace. There are major four
departments under which all the other departments operate so that the firm can generate
revenue in the process and they are:
Marketing
Marketing department enables the company to market their products and service in
front of the customers. This helps the company to make the customers aware of the products
and service that they are providing to them (Kotler et al. 2017).
For example: Tesco is a supermarket who mainly focus on the customers during the
marketing process, and that enables them to achieve the target in the marketplace (Tesco.com
2020).
Finance
Finance department enables the company to understand the expenses as well as the
profit that the company generate so that they can understand their financial standing in the
marketplace. This allows them to adopt the strategy which will enable them to figure out the
statistics of the company (Finance and Network 2013).

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For example: As NHS is public-funded healthcare, so the company needs to look after
the finance as they are accountable for all the expenses and the profit that they are doing in a
financial year (NHS.uk 2020).
Operation
In this department, raw materials are turned into the finished products, which enable
them to achieve success by manufacturing more number of goods and earning profit from the
market. This department is critical for the company as the primary production of the products
and services are being done here (Zhang, Shah and Papageorgiou 2013).
For example: ASDA is a supermarket retailer, but they possess some goods and
services of their own, which is being produced in their warehouse. This process of production
in the warehouse is known as operation and there is a specific department for it (Asda.com
2020).
Human Resource
Human resource is essential for the company as this department enables the company
to appoint employees in a different department so that they can work efficiently in the
marketplace and can satisfy the customers/clients (Noe et al. 2015).
For example: PWC hires employees so that they can appoint employees to different
process/projects, and that is being done with the help of the human resource department so
that they can provide service to the various clients and expand in the marketplace (PwC
2020).
Importance
The different departments need to work together so that all the information and data
can be circulated in an effective way possible and help them to achieve success. This enables

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the company to gain an additional advantage in the marketplace if they possess bonding
among the departments. The departments are also interconnected in the firm as all the
departments work together to shape the product or service that the company is providing to
the consumers (Pan 2015). Therefore, it can be noted that the departments are interconnected
and possess some importance in the production and selling of the product and service in the
market so that the company can achieve the success in the marketplace. The company need to
understand that bonding is essential between the departments so that they can achieve success
in the process and can generate revenue. Hence, it is considered to be a critical part of the
company and all the departments are connected so that they can grow in the market and can
become popular in the process (Fantino, Mori and Scalise 2015). So, the departments are
essential for the company and the success, as well as revenue generation of the company, is
also dependent on the bonding of the department in the firm.
Conclusion
The different department possesses some different roles, which is crucial for the
growth of the company in the marketplace. Therefore, the departments are the pillar of the
company in the success process and which is essential as well for the company.

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References
Asda.com (2020). Asda.com - Online Food Shopping, George, & more. [online] Asda.com.
Available at: https://www.asda.com/ [Accessed 2 Mar. 2020].
Fantino, D., Mori, A. and Scalise, D., 2015. Collaboration between firms and universities in
Italy: the role of a firm’s proximity to top-rated departments. Italian Economic Journal, 1(2),
pp.219-251.
Finance, E.H. and Network, C., 2013. The Eurosystem Household Finance and Consumption
Survey-results from the first wave (No. 2). ECB statistics paper.
Kotler, P., Bowen, J.T., Makens, J. and Baloglu, S., 2017. Marketing for hospitality and
tourism.
Mollah, A.S. and Sharif, A., 2014. The impact of relationship marketing on customer loyalty
at Tesco Plc, UK. European Journal of Business and Management, 6(3), pp.21-55.
NHS.uk (2020). The NHS website. [online] nhs.uk. Available at: https://www.nhs.uk/
[Accessed 2 Mar. 2020].
Noe, R.A., Hollenbeck, J.R., Gerhart, B. and Wright, P.M., 2015. Human resource
management. Gaining a Competitive.
Pan, F.C., 2015. Practical application of importance-performance analysis in determining
critical job satisfaction factors of a tourist hotel. Tourism Management, 46, pp.84-91.
PwC (2020). PwC. [online] PwC. Available at: https://www.pwc.com/ [Accessed 2 Mar.
2020].
Tesco.com (2020). Tesco - Supermarkets | Online Groceries, Clubcard & Recipes. [online]
Tesco.com. Available at: https://www.tesco.com/ [Accessed 2 Mar. 2020].

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Zhang, D., Shah, N. and Papageorgiou, L.G., 2013. Efficient energy consumption and
operation management in a smart building with microgrid. Energy Conversion and
Management, 74, pp.209-222.