Business Functions Report: Analysis of Key Functions and Importance

This business report provides a critical examination of various business functions and their significance within an organization. It begins with an introduction to business reports and their importance, followed by an in-depth analysis of key functions such as marketing, finance, human resources, and operations. The report analyzes the positive and negative impacts of each function, providing real-world examples and highlighting how these functions interrelate to achieve organizational objectives. The marketing function is explored, emphasizing its role in product promotion and market sustainability. The finance function is discussed in terms of budget preparation and cost measurement, along with potential pitfalls. Human resources are examined for their role in employee training and development, while operations are analyzed for their impact on product manufacturing and supply chain management. The report concludes by summarizing the importance of these functions for overall business efficiency and effectiveness, coordination with other departments, and the achievement of organizational goals. The report also includes a reference section with cited sources.

Business Report

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Critically examine the business functions and its importance:..............................................3
Importance of different business functions............................................................................4
CONCLUSION................................................................................................................................4
REFERENCE...................................................................................................................................5

INTRODUCTION
Business report is essential for an organisation so it can be maintaining by company in
order to provide important function which is related to a business (Abdullahi, 2019). The report
is about a various function of business which is performed in order to increasing effectiveness of
organisation.
TASK 1
Critically examine the business functions and its importance:
There are many functions of organisation which are important to discuss below:
Marketing-: Marketing is an important function for any organisation. Without marketing
for an organisation cannot achieve an objective (Hung, 2017). If it is critically analysed, then it
can be said that marketing department of a company promotes products in rightful ways then it
may help them in sustaining within the market for a longer period of time. On the other hand, it's
negative impact can be understood with a good example of Green Washing where if any
company promotes a product in an unethical manner, then it is may be possible that government
can cancel their license as well to perform business operations.
Finance-: Finance is major pillar without that company cannot set objective and goal. It
includes various factor which help company to achieve an objective of company. On that basis it
is critically analysed that this function helps to prepare budget for other department of
organisation so also it easily measures the cost which incurred different business activity in order
to effectively conduct business functions. Apart of that, it also negative impact due to finance
department prepare budget but other department misuse and interrupted in these budget so affect
the profitability of company and sometime company have face hit due to incurred loss.
Human resource-: It is main function in order to provide training of employees (Quinn,
2020). It is critically analysed on the basis of these functions mainly providing training and
personal development programmes conducted for employees so it shows positive impact due to
improving performance and enhancing productivity of company. On the other hand, due to
negative impact when recruit candidate without follow proper selection process and not conduct
training sessions on timely manner so it affects profitability of company and they are inefficient
to grape opportunity at market place.

Operations-: It is also known as production function which is a raw material convert into
finished goods. It also coordination with all the department of company. These functions if
critically analysed on the basis of utilisation of effective manufacturing process and innovative
techniques help to produces goods so it impacts positive reason being provides effective and
innovate products to customer so gain competitive advantage. On the other hand, it has been
critically analysed so also negative impact due to most of companies not utilise effective supply
management system so which affects operational activities of company so decreasing
productivity (Nikiforova, 2018).
Assessment of business function:
Achieve objective: All the functions are important for company in order to combinable so
they increase overall efficiency and effectiveness of company. It coordinates with each
department like marketing and finance, marketing and human resources etc.
Importance of different business functions
There are various business functions such as Finance, Marketing, Human resource,
Research and so on. These all activities are crucial to perform in an efficient manner in order to
achieve organizational objectives. Finance department provide and keep proper control over
funds to carry out business operations.
CONCLUSION
From the above report, it has been concluded that business report is essential because
need to be prepared by organisation in order to achieve organisation objective. It also included
various role of business function which is link together it is perform in effective and efficient
way.

REFERENCE
The books and journal
Abdullahi, S.I., 2019. Zakah as tool for social cause marketing and corporate charity: a
conceptual study. Journal of Islamic Marketing.
Hung, H.T., 2017. The integration of a student response system in flipped classrooms. Language
Learning & Technology, 21(1), pp.16-27.
Nikiforova, S., 2018. The study of the correspondence of marketing instruments to the stages of
the start-up life cycle. In MATEC Web of Conferences (Vol. 239, p. 07004). EDP
Sciences.
Ozturkoglu, Y., 2016. On the 4Ps & 4Cs of green logistics marketing mix. Logistics and
Transport, 29.
Quinn, A., 2020. Incorporating Problem-Based Learning Skills into Graduate and Professional
Student Classes. Journal of Problem Based Learning in Higher Education.
Sousa, M.J., 2018. Entrepreneurship skills development in higher education courses for teams
leaders. Administrative Sciences, 8(2), p.18.
Tkachenko, V., 2017. Formation of marketing management system of the enterprise. Baltic
Journal of Economic Studies, 3(5), pp.208-213.