MG408 Graduate Challenge Report: Business Functions and Synergy

This report, prepared for the MG408 Graduate Challenge, examines the crucial roles of marketing, finance, operations/production, and human resources within a business. It defines each function, emphasizing their individual contributions to organizational success. The report further explores the critical importance of these functions working in harmony, providing examples of successful UK-based businesses like Greenergy International Ltd, John Lewis Partnership Plc (JLP), McLaren Group, and Bestway Group to illustrate this synergy. It highlights how effective collaboration between departments, supported by resources and training, is essential for achieving business objectives, and utilizes academic references to support its arguments.

Graduate Challenge

Table of contents
Introduction....................................................................................................................................3
Marketing.....................................................................................................................................3
Finance.........................................................................................................................................3
Operation/Production...................................................................................................................3
Human Resources........................................................................................................................3
Importance of all the business functions working together.........................................................4
References.......................................................................................................................................5

Introduction
Marketing
The activities involved in the business or
organization that help promote the services and products to the customers by means of
advertising, product delivery as well as selling. Marketing have a significant role in the business
as it helps in promoting the objectives of the company. Marketing the company reach out to
different customers and the investors and provide them with the positive and clear image of the
company’s aim and goals.
Finance
The activities under finance provide fund
for the company or business. These activities include making purchases and investing. The
finance manager of the company manages the funds and is responsible for the deciding the
amount of money requirement for which cause, they have to use the funds in the best possible for
the company’s benefit and they are to decide how the get the required funds for the company.
Operation/Production
The work done to ensure the inner
functioning of the organization so the business run efficiently is called the operation/production.
The activities involve planning, organizing, coordinating as well as controlling that are necessary
for the production of the products in the company. The main role of the production is converting
the inputs into products.
Human Resources
The people working in the organization
who are responsible for managing the employees in the organization are called the human
resources. The human resources of the company play a vital role in the development of the
company. The HR involve in many activities like maintaining a healthy culture in the company,

performance management, recruitment and onboarding, training and development of the
employees.
Importance of all the business functions working together
The business function should work together in the business for achieving the success. The
HR needs to ensure that the employees recruited for the marketing are trained. The operation of
the company need to ensure that the products are been produced according to the rising demand
due to the marketing. The marketing is dependent on the finance to provide the marketing
campaigns with enough money. The finance department of the company need to provide the
marketing department with efficient budget as well as financial resources so that it can easily
able to meet the demand of the products and the services.
HR needs to ensure that the employees recruited for the operation and finance are trained
enough. The marketing department had to create the demand of the products and the services the
operation department is creating. Operation department dependent on the finance department for
the purchases of supplies, transporting and storing the goods. The finance have to take care of the
day to day general business processes. The HR have to resolve the grievance as well as
disciplinary issues in the company.
The organisation like Greenergy international Ltd, john Lewis partnership Plc (JLP),
McLaren Group and Bestway Group are some of the successful UK based business and
organisation in which the different business functions are working together to achieve efficient
success.

References
Books and journals
Leonidou and Hultman, 2019. Global marketing in business-to-business contexts: Challenges,
developments, and opportunities.
Berg, 2018. Leading in sync: Teacher leaders and principals working together for student
learning. ASCD.
Online references
The interdependent nature of business.2021. [Online]. Available through
<https://www.bbc.co.uk/bitesize/guides/zdskkmn/revision/2>