Business Operations and Management Report - University Assignment

This report provides an overview of business operations and management, covering key functions such as management, accounting and finance, production, and marketing. The report highlights the significance of each function in ensuring the success of a business, including the importance of efficient planning, resource allocation, and customer engagement. It examines the roles of management in directing and controlling business activities, the significance of financial planning, and the impact of marketing strategies. The report also stresses the need for businesses to adapt to the market dynamics and consumer demands for sustained growth. The report is based on the research and analysis of the student. This assignment offers valuable insights into the interconnectedness of business functions and the importance of strategic decision-making for business success. This report is available on Desklib to assist students.

Introduction to Business
Operations and Management
Table of Contents

Business operations................................................................................................................1
Main functions associated with business operations..............................................................1
References........................................................................................................................................3

Business operations
The activity with which businesses are engaged on daily basis for amplification of values
of enterprise as well as attain relevant profit is referred to as business operation. This is primary
function of firm that involves formulation of plans, development and management of business
practices. This is liable for enhancement of values and overall profitability of organisation.
Basically, they imply practices which are used by firms for ensuring that their intent behind
being within the marketplace is served and they are able to reach ample of consumers
(Jayachandra, 2020). This acts as crucial part for business that has to be carried out in an
effectual and precise manner. It is a relevant function for business to make sure that they are able
to attain their objectives and goals within desired span of time. An instance can be taken into
consideration like operations of Bentley Motors comprises of manufacturing as well as
delivering of services to their consumers. Along with this other activities such as management,
financing, HR activities and many other aspects are also included within this. Firms conduct their
operations in such manner that they can sustain within the marketplace for longer duration of
time as well as make sure that they are able to accomplish requirements of their potential
customers.
Main functions associated with business operations
There exist distinct functions that are being carried out by firms to ensure that they
succeed within the operation done by them in an effective manner. The different functions
associated with business operation are specified beneath: Management: This function is liable for making sure that tasks and activities are
managed in an appropriate manner so that business can deliver their services in
appropriate manner. Management function aids within development of plans, their
organisation, rendering directions and controlling distinct tasks. This enables them to
conduct business operations in smooth manner as well as attain desired goals. Accounting and finance: This function involves making sure that financial resources are
measured adequately for carrying out business practices. This is crucial for firms as they
are liable for allocating budget for different business operations as without this it is
impossible to deliver to functions in an appropriate manner (Rakic and Adamovic, 2019).
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Furthermore, by making interpretations related with financial assets, important decisions
can be formulated. Productions: This is associated with manufacturing or production of services or products
that are being rendered by organisation. This is regarded as significant aspect as they are
accountable for ensuring that relevant quality standards are maintained and also needs of
customers are addressed effectively. This is the aspect which leads firm to generate high
revenue and enhance their brand image within the market. Marketing: This comprises of promoting products that are being manufactured by
organisation so that awareness can be created within the market related with services that
are delivered by them. Marketing function is accountable to identify needs of customers
so that by providing them with those services they can be captivated (Seidmann, Jiang
and Zhang, 2019). This also leads to develop the strong relationship with consumers. For
reaching customers different mediums are used like social media marketing and making
use of offline sources (leaflets, pamphlets, hoardings, etc.).
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References
Books and Journals
Jayachandra, Y., 2020. High Velocity Business Operations. Elements in Business Strategy.
Rakic, S. and Adamovic, V., 2019. Business ethics in the function of successful business
operations of modern companies. Oditor, p.42.
Seidmann, A., Jiang, Y. and Zhang, J., 2019. Introduction to the Minitrack on The Impact of
Digitization on Business Operations.
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