Report on Key Business Functions: Marketing, Finance, Operations, HR

This report provides a comprehensive overview of four crucial business functions: marketing, finance, operations, and human resources. The report begins by highlighting the importance of marketing in today's competitive business environment, emphasizing its role in establishing customer relationships and shaping an organization's brand. It then delves into the significance of finance, explaining how it underpins all business operations, from cash flow management to investment decisions. The report proceeds to explore operations management, detailing its role in managing production processes and ensuring efficient service delivery, and it emphasizes how operations are crucial to meeting customer requirements. Finally, the report examines human resources, describing its key responsibilities in employee recruitment, training, and management. The report underscores the importance of each function for organizational success.

Running head: GRADUATE CHALLENGE
GRADUATE CHALLENGE
Name of the Student:
Name of the University:
Author Note:

1GRADUATE CHALLENGE
Marketing
In world of today, marketing’s role could not be ignored. There is competition among the
organizations today within same market. Organizations being most proactive and innovative
emerged as victors. The global economy of today realized small organizations’ importance as
well as is giving them much required support for sustaining growth. As result survival of
organization is totally dependent on wise efforts of marketing that are coupled by the financial
operational between the other functions in the structure. An essential role is played by marketing
to establish relationships among organizations and customers (Keegan 2017). This gives the
confidence in trying new product within the market. It makes function of marketing crucial in
each organization. Marketing shapes organizations’ image. Marketing is tasked also with
organization’s branding.
Finance
Finance is process for keeping score of the activities of an organization, however it brings
life to the business. It passes through each part of the operations of firm. Some decisions are
taken without having input from people of finance management. Finance is crucial in about
every decision in business, from cash flow management and budgeting and planning to capital
structure as well as how costs and risks are controlled. Finance deals with questions of how
government, organization or individual acquires the required money (Pilbeam 2018). Finance’s
major focus is investment management, known as asset management to the institutions and
money management to the individuals. Finance consists of associated activities for risk
management, investment banking, securities trading and financial engineering.

2GRADUATE CHALLENGE
Operations
Operations is area for management with controlling and processing production’s process
as well as redesigning the operations within business in production of goods as well as services.
This involves responsibility to ensure that business’s operations are efficient to meet the
requirements of the customers. There is concern of operation management with organizing,
supervising and planning in contexts of manufacturing, production of the services. This is
concerned by managing overall production system that is process which converts the input to
output. Operations manage quality, creates service and produce products. Sectors such as
hospitals, organizations, banking systems, working with customers and suppliers are covered by
operation management (Reid and Sanders 2019). Operations is major function within an
organization with marketing, human resources, supply chains and finance. Operations function
needs management of per day as well as strategic production of services and goods.

3GRADUATE CHALLENGE
Human Resources
Every organization, small or large, uses different types of capital for making business
work. The capital consists of goods, valuables or cash used for generating income for business. It
describes people who make up organization’s workforce. Human Resource Management (HRM)
is process to employ people, train them, develop policies for them, develop strategies for them
and compensate them. Specialists of human resources are responsible to recruit, interview,
screen, and place the employees (Bratton and Gold 2017). They might handle also employee
relations, benefits, payroll and training. Human resource’s manager plan, coordinate and direct
organization’s administrative functions. The specialists are overseen by them in the duties,
consult with the executives for strategic planning as well as link management of an organization
with the employees.

4GRADUATE CHALLENGE
References
Bratton, J. and Gold, J., 2017. Human resource management: theory and practice. Palgrave.
Keegan, W.J., 2017. Global marketing management. Pearson India.
Pilbeam, K., 2018. Finance & financial markets. Macmillan International Higher Education.
Reid, R.D. and Sanders, N.R., 2019. Operations management: an integrated approach. John
Wiley & Sons.