Analysis of Business Functions and Interconnections: NEXT Company

This report provides a comprehensive analysis of the business functions within the NEXT company, a British multinational retailer. It examines the roles and importance of the marketing, finance, human resource, and production departments. The marketing department's focus on customer base creation and promotion is discussed, along with the finance department's role in managing funds and financial records. The human resource department's functions in recruitment, training, and maintaining employee discipline are also highlighted. Furthermore, the report details the production department's role in converting raw materials into finished goods. The report also provides an example of how these business functions are interconnected, using the footwear industry as an example, from purchasing raw materials to sales and financial management. The conclusion emphasizes the need for departmental coordination for business growth and expansion.

Assessment

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Marketing Department and their importance..............................................................................3
Definition and importance of finance department......................................................................3
Explain Human resource department along with their importance.............................................3
Production department and its importance..................................................................................4
With the help of example explain how business function are inter connected with each other..4
CONCLUSION ...............................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
To run business operations effectively, various functions are perform by workforce of
different department so that work can be perform with easy flow. The company that is select in
this project is “ NEXT”. It is a British multinational deal in home products, clothing and
footwear. Definition and functions of each department are also describe in detail in this report.
TASK
Marketing Department and their importance
Marketing Department is a unit in which marketers do research to create their customer
base (Wierenga, 2017). The main function of this segment is to promote the product and attract
huge consumers.
Importance
All activities of marketing are perform by experts of this department so it help the
company “ NEXT ” to create awareness for their items among customers. By adopting various
promotional campaigns, smart marketers convince audience to show interest in their production.
In this way it capture huge market area and increase sales.
Definition and importance of finance department
Finance unit is a part of company that handle all funds that involve in the organisation. Its
main function is to maintain the records of revenues and expenses ( Sanewski, 2018).
Importance
It shows the actual position of company as per monetary terms. NEXT appoint
professional and experience person in their finance department so they help to reflect true and
fair position of concern. Budget can also be prepare by their experts.
Explain Human resource department along with their importance
Human resource department is a division where HR manager perform various functions
such as finding, screening, recruiting employees, conducting training and development
programme etc (Baum, 2016). All the administrative functions are also perform by smart
managers of this unit only.
Importance

To make workforce available at all the time, HR choose and appoint suitable candidate
for vacant position so that company operate their business properly. To maintain disciple is very
important task for every organisation so managers of this department handle all the situation
smartly and maintain peace and harmony in the company.
Production department and its importance
Production department is an area where goods are produce with the help of skilled or
unskilled employees by converting raw material into finished goods (Lunde, 2016).
Importance
It help the organisation to produce quality product with less wastage. Having experience
workers in production unit “NEXT” save their important resources and achieve the target of
producing maximum units on time.
With the help of example explain how business function are inter connected with each
other.
For example: NEXT deal in footwear industry. To manufacture shoes the brand purchase
pure leather( as raw material), and thread. After that it transfer their goods to selling department
for sale. With the help of marketing managers of marketing department it promote their product
and tends to increase sale after that all the records of sales and revenue are maintain by finance
managers. In this all the activity from production to sale are inter link with each other.
CONCLUSION
After doing analysation it is to be conclude that for business growth and expansion it is
necessary for “NEXT” to work by making coordination with department. he have specific
department for particular activity like Production department deals with all the activities related
to manufacture, human resource unit perform the task related to employees, finance department
handle all the transactions related to money. The task perform are interlinked and interdependent
on each other.

REFERENCES
Books and journal
Baum, T. ed., 2016. Human resource issues in international tourism. Elsevier.
Lunde, J. and Whitehead, C. eds., 2016. Milestones in European housing finance. John Wiley &
Sons.
Sanewski, G. M., Bartholomew, D. P. and Paull, R. E. Eds., 2018. The pineapple: botany,
production and uses. CABI.
Wierenga, B. and Van der Lans, R. eds., 2017. Handbook of marketing decision models (Vol.
254). Springer.