Comprehensive Analysis of Core Business Functions and Their Importance

This report provides a comprehensive overview of essential business functions within an organization. It defines a business function as any activity that transforms knowledge, resources, or obligations to produce results. The report highlights the critical roles of marketing, finance, and operations. The marketing function focuses on promoting products, understanding customer needs, and brand building. The finance function manages financial resources, budgeting, and investment. The operations function is responsible for the production of goods and services, ensuring efficient distribution and meeting customer expectations. The report emphasizes the interdependence of these functions and their collective contribution to organizational success. The report provides a detailed overview of these functions and references supporting literature.

The Graduate Challenge

TASK
A business function is characterized as any collection of activity conducted out from the
entity triggered by an activity, transforming knowledge, resources or company obligations, and
production procedures ( e.g. inventory fulfillment, invoicing, financial reporting, produced batch,
monitoring consumer feedback, regulatory submissions). A basic structure or collection of active
activities is an organizational or business function. To operate any business requires different
types of business functions such as:
Marketing function: The marketing role of a company is to promote services and
products and also to increase the delivery of the company's employees. The marketing function
has so many roles, one of which is to comprehend the client's needs and requirements and to
ensure that the products and services of the company fulfill the expectations of the consumer
(Kulkarni, Robles-Flores and Popovič, 2017). A further marketing function is to make the
products and services of the organisation well-known in the targeted audience and to meet the
necessary key demographic standards. In addition, the marketing role must establish measures to
expand the image of the brand of the company to the public, such as selling its products
throughout social activities, marketing the goods utilizing marketing campaigns, publishing T-
shits, supporting charitable or sponsorship sports team
Financial function: A company's financial function is to secure financial resources and
distribute certain funds to specific sections of the organisation. In addition, the finance
department is concerned with budgeting and supplying the requisite funds for the organization’s
other activities, such as products and customers. The finance function is vital of supplying all the
necessary components whilst also products and customers to start making them attempt to finish
the issues pertaining to their function. Finance wants to deliver so many important functions,
including such maintaining cash flows, financial planning, investment management, and
financial assumptions, to ensure organizational performance.
Operation function: The operational role is the main function of the organisation, which is
concerned with the manufacture of goods and services. Commodities are just something
meaningful (tangible) that establishes raw materials including such motherboards that are

components of computer systems, and also telephones, cars and televisions. Service providers,
like education and welfare, are also something unquantifiable (not physical) that include some
sort of mental health worth or combination of moment or destination valuation. There are so
several instances of products and facilities that accompany our everyday lives that inform
everyone of the role of operations, each moment we use the mobile to contact someone, reading
a book, or view a video, it reminds us of one or more companies' operations function. The
objective of the campaign is to equalize the movement of products and achieve customer
expectations. Considering a lot of the supply is a loss for the company assets and getting some of
that supplier could result in customer disappointment (Lahmiri, 2017).
These are main function of any business entity and important to use in company. Without
these functions any company can’t operate their activities. Finance function essential for manage
all the financial activities in proper manner and present accurate financial health. Along with, the
role of the operations must be to measure and control the distribution networks, to collaborate
with marketing and advertising to ensure that they satisfy economic growth. While the function
of operations is responsible for the production of goods and services, the function of operations
needs the encouragement and guidance of many other sections or functional aspects of
organizational, such as finance and marketing.

REFERENCES
Books and Journal
Lahmiri, S., 2017. Multifractal analysis of Moroccan family business stock returns. Physica A:
Statistical Mechanics and its Applications. 486. pp.183-191.
Kulkarni, U., Robles-Flores, J. A. and Popovič, A., 2017. Business intelligence capability: the
effect of top management and the mediating roles of user participation and analytical
decision making orientation. Journal of the Association for Information Systems. 18(7).
p.1.
Online
Business function. 2020. [Online]. Available through: <https://bizfluent.com/info-8345380-
business-functions.html>
Business function. 2020. [Online]. Available through: <
https://www.businessmanagementideas.com/business/functions-business/business-
functions-7-main-types-of-business-function/3744>
Importance of business function. 2020. [Online]. Available through: <
https://cio-wiki.org/wiki/Business_Function>