Graduate Report: Business Functions, Skills, and Their Importance

This report provides an overview of key business functions and the skills required for effective operations. It begins by highlighting the importance of business functions in overall development, emphasizing their role in resource utilization and organizational growth. The report then delves into specific functions, including marketing, finance, and human resources, detailing the skills needed for each. For marketing, the report emphasizes the importance of communication, creativity, and stress management. In finance, it highlights the need for budget preparation, identifying sources of finance, and investment skills. For human resources, the report discusses the significance of problem-solving, conflict management, and negotiation skills. The conclusion summarizes the role of these business functions in achieving organizational goals and maintaining business effectiveness. The report references academic sources to support its findings.

Graduate challenge

Table of Contents
Introduction .....................................................................................................................................3
Importance of different business function. .................................................................................3
Conclusion ......................................................................................................................................4
References .......................................................................................................................................5

Introduction
Business function is important for overall development at a large scale and to make
effective use of all available resources in an organization. Help organization to grow at an
extreme level. In this report we will prepare different function of business and skills that an
individual require for fulfilling those skills.
Importance of different business function.
Marketing
In an organization to work according to requirement marketing is one of the essential part
of a business to develop(Gnizy and Shoham, 2018. ). Marketing help in development of presence
in market. Need to advertise working of business to grow at a large scale. Marketing play an
important role on increasing sale and profitability of company and to achieve goals and
objectives. An individual require different skills to fulfill duties of marketing in an organization.
Communication
Person need skills to communicate effectively with their customers and make them
understand working of products and services. Effective communication help to attract customer
towards business.
Creativity
Individual need to be creative to think about new ideas and process that help to get
attention of clients. Need to use different techniques of marketing. Need to plan and overall
campaign for company.
Stress management
Working as a marketer is very stressful and need to control stress so that they are able to
work smoothly and achieve their goals on time.
Finance functions
To develop business funds are required to develop abilities. Manager need to plan and
control financial resources. Need to take proper utilization of funds for efficient operations.
Finance function help to know areas in a business where investment is required.

Budget preparation
An individual need to prepare budget of finance. Need to maintain budget of company to
establish business at a large scale. Budget help in smooth working of business. Budget help to
know the resources that are used in organization.
Identify sources of finance
An individual need to identify different sources of finance. Skills to know areas where a
company is able to raise funds for business.
Investment skills
An individual need to have skills to use in business. Need to prepare plan for decision
making while investing in areas for development of business.
Human resource
Human resource department of business is responsible for all activities in business. To
manage employees and identify their talent and skills that help in expansion of business. Their
aim to increase performance of employees at a huge level.
Problem solving and conflict management
HR need skills to solve conflicts between employees to maintain working in an
organization(Arora and Hanumante, 2017.). Require abilities to solve problem in every
department of organization. Make all employees to work in a team.
Negotiation
One of the most important skill that an HR need to have is to negotiate. Need to have
ability to negotiate with employees on their salary.
Conclusion
In this report an business function help in smooth working of company. They all maintain
effectiveness of organization. Skills in business function help to achieve goals and objectives of
organization and maintain effectiveness of business.

References
Books and Journal
Arora, R. and Hanumante, A., 2017. Reinventing HR Functions with the Use of Information
Technology. PARIDNYA-The MIBM Research Journal. 5(1). pp.101-107.
Gnizy, I. and Shoham, A., 2018. The power of international marketing functions: antecedents and
consequences. Journal of Business-to-Business Marketing. 25(2). pp.67-89.