Business Report on Business Functions for MG408 Graduate Challenge

This report, created for the MG408 Graduate Challenge module, analyzes the importance of various business functions, including marketing, finance, and human resources, and how they contribute to organizational success. The report explores the interconnectedness of these functions, emphasizing the need for effective collaboration. It defines the roles of marketing, finance, operations/production, and human resources, supported by academic texts and evidence from successful organizations. Furthermore, the report highlights the essential academic skills required for undergraduate success, such as time management, research, and creative thinking, demonstrating how these skills facilitate goal achievement. The student has used evidence-based writing and Harvard referencing to support their arguments, aligning with the assignment brief's requirements. The report provides insights into the practical application of these functions and skills, demonstrating how they are essential for achieving both short-term and long-term goals.

Graduate Challenge
1

LO1 Importance of different business functions.........................................................................3
LO2 Necessary academic skills to be a successful undergraduate student..................................4
REFRENCES...................................................................................................................................5
2

LO1 Importance of different business functions
Marketing and Finance:
Marketing and Finance are two most important pillars within an organisation that are
largely responsible for growth and profit of organisation. Finance function is related with
feasibility of project, profit, financial performance, sales growth, cost and other financial aspects.
While marketing is mainly related with sales volume, sales target, advertising and publicity,
comparison to competitors, data mining and more (Feng and et. al., 2015). It has been
determined that without best effective advertising and publicity overall sales of company
products cannot be improved and without sales there will be no profit. Thus, it is essential for
both departments within organisation to work in a coordinating manner. Finance Department aid
marketing with providing feasible funds in order to conduct their advertising and publicity
activities, with the help of this overall sales of company can effectively increased. While with
best effective form of advertising Marketing department aid finance to increase their profit and
fund reserve ratio, this will benefit company to increase their profitability and productivity.
Marketing and Human Resource:
Marketing and human resource are also one of the crucial function organisation. As in
order to gain ultimate success company is required to attract profitable customers in order to
increase sales number while to ensure long term Success Company is required to have potential
employees in order to convince customers and offer them best effective services (Cummings and
et. al., 2014). Marketing department is related to activities like advertising, attracting customers,
finding target market in order to increase company customer base. While human Resource
Department is related to recruiting potential employees as to increase work performance of
company. Human resource benefits marketing with potential skill and knowledgeable employees
3

through which they can conduct marketing activities and can increase organisational sales
volume. While marketing benefit Human Resource Department by delivering and creating brand
message to employees and customers.
LO2 Necessary academic skills to be a successful undergraduate student
In order to be successful undergraduate students it is essential to have time management
skill, study skills, research skill creative skill and thinking skill. With the help of these skills
students can effectively able to accomplish their goals (Stelnicki and et. al., 2015). Time
management aid students to prepare weekly schedule with the help of which they can conduct
their activities as per according to time. While research skill and creative skill students to
conduct research related to topic and best effective manner and get more appropriate outcomes.
With the help of these skills students not only able to manage that time as per according to time
schedule but can also accomplish the long and short term goals in more effective manner and can
further able to become a successful undergraduate student (Benson, Morgan and Filippaios,
2014).
4

REFRENCES
Books and Journals
Feng, H. and et. al., 2015. Marketing department power and firm performance. Journal of
Marketing, 79(5), pp.1-20.
Cummings, T.G. and et. al., 2014. Organization development and change. Cengage learning.
Shields, J., Brown, M., Kaine, S., Dolle-Samuel, C., North-Samardzic, A., McLean, P., Johns,
R., O'Leary, P., Robinson, J. and Plimmer, G., 2015. Managing employee performance &
reward: Concepts, practices, strategies. Cambridge University Press.
Wolff, B.G., Wood-Kustanowitz, A.M. and Ashkenazi, J.M., 2014. Student performance at a
community college: Mode of delivery, employment, and academic skills as predictors of
success. Journal of Online Learning and Teaching, 10(2).
Stelnicki, A.M and et. al., 2015. Who Is the Successful University Student? An Analysis of
Personal Resources. Canadian Journal of Higher Education, 45(2), pp.214-228.
Benson, V., Morgan, S. and Filippaios, F., 2014. Social career management: Social media and
employability skills gap. Computers in Human Behavior, 30, pp.519-525.
5