Business Report: Business Functions, Interrelations and Skills

This business report delves into the importance and interrelation of various business functions within an organization, emphasizing how departments like HR, marketing, research and development, and finance collaborate for success. It explores the significance of each function and highlights their interconnectedness. The report also examines essential academic skills required for graduates, including leadership, initiative, adaptability, creativity, communication, curiosity, and language proficiency. These skills are crucial for students to thrive in their future careers. The report references relevant academic journals and books to support its analysis, providing a comprehensive overview of business functions and the skills needed for graduates to succeed.

Business report

Table of Contents
LO1 Importance of business function and their Interrelation. ........................................................3
LO3 Academic skills to become a successful graduate...................................................................4
References .......................................................................................................................................5

LO1 Importance of business function and their Interrelation.
Business function and all the department of business are important for a company
towards the success of the business. Each and every department is required for smooth working
of a business. Different departments have different responsibilities in their business. Departments
needs to communicate with each other for development of business(Leon and Calvo-Amodio,
2017.). HR department plays an important role top manage the workforce or employees in an
organization. Marketing departments helps business to create a image or attract the customers
towards market.
Interrelation between marketing and HR
Marketing department helps HR department by providing information about the the
requirements of customers and according to those information HR department prepare product.
Marketing department helps them to guide about the products of their customers. HR department
helps marketing by providing information about the vision, mission, and goals of business and
facilities and specification provided by companies product it helps marketers to inform
customers about the product and company.
Research and development and marketing
marketing departments provide the information about market and technologies prevailing
in market. With help of information from marketers the R & D department research over the
product and prepare a new technology to develop a new product that attract customers and
influence them towards their product.
Operations and R & D
Operation department is responsible to develop a design for a product and strategy for
development of product in a market. Operation department gets information on technology from
research department that helps them prepare design according to the technology used in success
of a business.
Finance and accounting

Finance and accounting departments of business helps company to prepare budget that
requires by operation department for production(Sadeh, 2017.) . Finance department provide
funds to marketing to promote product and marketing department helps them in generating
revenue by using effective marketing techniques.
LO3 Academic skills to become a successful graduate.
Leadership
Leadership is requires to motivate and influence others. Students needs leadership skills
for development of their future. Skills to understand the feeling of others and solve their
problems.
Initiative
Students needs an ability to take initiative for their development. Intiation helps them to
understand and new trends and technologies in a business.
Adaptability
Students needs to adapt situation according to requirement. Adaptability of changes in
market or new technologies in a business. Adapting the changes help students to implement new
changes and overcome problems in a business.
Creativity
Students needs creativity for development of new strategies and technologies and
creativity with changes help them to expand business at large scale(Drew, 2018.) . Creativity
helps in overall development of a student.
Communication
An effective communication is required for each and every person and a business. When
a students going to open a new business or need to know about fellow mates they communication
helps them to establish a relation with their employees so that they work effectively.
Curiosity
Students needs to have curiosity to know each and every think it helps them to expand
their thinking and develop new technologies.
Language
Language helps students to communicate and effective language helps them to know
other people and understand different concepts.

References
Books and Journal
Leon, H.C.M. and Calvo-Amodio, J., 2017. Towards lean for sustainability: Understanding the
interrelationships between lean and sustainability from a systems thinking perspective.
Journal of cleaner production. 142. pp.4384-4402.
Sadeh, E., 2017. Interrelationships among quality enablers, service quality, patients’ satisfaction
and loyalty in hospitals. The TQM Journal. 29(1). pp.101-117.
Rowland, J., 2017, November. Promoting conference presentation skills for diverse student
groups. In 13th Biennial Conference of the Association for Academic Language and
Learning: 21st Century Language and Learning.
Drew, S., 2018. The student skills: guide. Routledge.