MG408 Graduate Challenge: Business Functions, Coordination and Success

This report, created for the MG408 Graduate Challenge, examines the roles of marketing, finance, operations/production, and human resources within a business context. It defines each function and their importance in contributing to organizational success. The report emphasizes the necessity of these functions working in coordination, providing examples of how successful organizations, like ASDA, leverage these departments to achieve their goals. The report covers topics such as market research, financial planning, production management, and human resource management, highlighting the importance of each in achieving profitability and long-term sustainability. It concludes that effective coordination between these business functions is crucial for project success and smooth business operations. The report uses academic texts and credible web-based sources to support its arguments.

MG408
GRADUATE
CHALLENGE

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Role of marketing, finance, operations/production and human resources..................................1
Importance of all these functions working together well based on successful organisations.....2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business function are those affair that is adopted by an enterprises. These business
functions can be divided into two aspects i.e. core function which included the production,
human resources whereas support function involves marketing, finance, information technology
etc. This essay report is based on role of different business functions with their importance that
helps in supporting the business to make successful(Luzzini and et. al., 2015).
MAIN BODY
Role of marketing, finance, operations/production and human resources
Role of marketing
Marketing play an essential role for promoting the business in the market and attracts the
large base of customers by providing the satisfactory goods according to their needs and
requirements. There role is to examine the target market and competition so that effective
strategies can be developed to sustain in market for a longer period of time. For example- ASDA
majorly focus on performing marketing role so that they can effectively promote their goods and
services in the market, research the market accurately, this helps in developing the trust of
customers on the company offerings and firm will earn higher profit and sales also enhance the
image of the brand and loyal customers base(Leung and et. al., 2016).
Role of finance
As this function can perform the role of acquiring funds, managing funds, planning for
investing money, making budget for expenditures incurred on the resources of firm so that
enterprise will meet their goals and objectives effectively. In terms of ASDA finance function is
responsible for business support services, effectively control the monetary benefits and the do the
expenditure with low cost so that company will survive longer period of time and operations of
the business on daily basis can run smoothly (Senior Commercial Finance Manager – Trading.
2020).
Role of operations/production
This business function perform a main role in managing all the aspects related to
producing, manufacturing of product and services and delivers it to the consumers for gaining
profits. In this operation department in ASDA perform the role of managing the quality of the
good and services at the time of manufacturing so that high profits would be gained(Asda
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Operations Management, 2020). In this company can use the computer software to know the
stock availability so that customers can get it conveniently and company will gain more
revenues(Jamali, El Dirani and Harwood, 2015).
Role of Human resource
This functions shows as significant in the business enterprise because this function can
work for controlling and managing the manpower of the company by performing varieties of
roles such as staffing, recruiting, appraising, training and development etc. In ASDA, HR
department contributes more on success and growth of the organisation as they maintains the
relations between employees and employers so that work done smoothly. Organising
development plans for the employees so that there personal skills is to be improved and
objectives can be attained successfully(Asda Stores, 2020).
Importance of all these functions working together well based on successful organisations
Above all business functions are very essential for the success of the business
organisations and their sustainability. It is very important to have a great co-ordination between
all the department so that operations and task can be done smoothly without any
misunderstanding and mistakes. If all the business functions working together than firm like
ASDA can utilised their resources effectively that represents the improvement in the quality of
the work at the time of completion of project. In this marketing department can research the
market for understanding the needs of the customers and in this finance department make the
budget so the cost can be effectively used that does not affect the profits of the company. They
also monitor the company reserve funds for securing the future of the business enterprises. In this
it is very essential for the departments to coordinate with production department so that they
offers the quality goods according to customers requirements and with cost effective manner for
this they also adopts the varieties of applications like lean method, kaizan, six sigma so that
wastage can be removed effectively. And to maintains and manage all the departments human
resources working effectively as they recruit, train and reward the employees as per their
efficiency, capability etc. so that objectives can be attained on specified period of time. So it is
evaluated that if all the business functions are working coordinate than firm will achieve then
task for earning higher profits will long term sustainability(Hull and Scott, 2020).
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CONCLUSION
From the above report it is concluded that different business functions perform different
roles in the firm according to their speciality and efficiency so it is very essential to work
coordinate so that project can be gained and attained on time frame and operations of the
business can run very smoothly.
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REFERENCES
Books and Journals
Hull, A. and Scott, P., 2020. The ‘value’of business archives: assessing the academic importance
of corporate archival collections. Management & Organizational History, pp.1-21.
Jamali, D.R., El Dirani, A.M. and Harwood, I.A., 2015. Exploring human resource management
roles in corporate social responsibility: The CSR‐HRM co‐creation model. Business
Ethics: A European Review. 24(2). pp.125-143.
Leung, R.C. and et. al., 2016. The role of executive functions in social impairment in Autism
Spectrum Disorder. Child Neuropsychology. 22(3). pp.336-344.
Luzzini, D. and et. al., 2015. From sustainability commitment to performance: The role of intra-
and inter-firm collaborative capabilities in the upstream supply chain. International
Journal of Production Economics. 165. pp.51-63.
Online
Asda Operations Management, 2020 [Online]. Available through
<https://www.freecasestudysolutions.com/case-study-Asda-Operations-
Management.aspx>
Asda Stores, 2020 [Online]. Available through <https://www.personneltoday.com/hr/asda-
stores/>
Senior Commercial Finance Manager – Trading. 2020 [Online] Available through
<https://www.asda.jobs/vacancy/senior-fpa-manager---senior-commercial-finance-
manager---trading---6603-leeds/6621/description/>
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