CW1 Business Report: Importance of Business Functions in Organizations

This report explores the crucial role of various business functions within organizations, emphasizing their collective importance in achieving success. It defines key functions such as Human Resource Management, Account and Finance, Sales and Marketing, and Marketing Operations, highlighting their responsibilities and contributions to a company's overall performance. The report underscores the necessity of these functions working together seamlessly to enhance organizational effectiveness. Citing academic texts, the analysis demonstrates how a coordinated approach across these functions can lead to improved market reach, financial stability, and operational efficiency. The conclusion reiterates that businesses effectively integrating these functions are better equipped to address challenges and innovate, making this report a valuable resource for understanding the dynamics of successful business operations. Desklib provides access to this and many other solved assignments for students.

Business
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Contents
Business...........................................................................................................................................1
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................4
Various business functions:.............................................................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
Books and journals......................................................................................................................7
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INTRODUCTION
A business means the sale, purchase and sale of goods or services for profit. It is an organization
where individuals work together to provide goods, services and services. Businesses create jobs
because they need to offer and sell to their customers their goods and services. This report
incorporates the importance of various business activities to demonstrate key educational skills
based on successful organizations. It becomes very different when a company team integrates its
goals, ideas, developments that help improve its performance to achieve its benefits and
objectives (Stocker and Shaheen, 2017).
Various business functions:
A business activity describes an internal attitude driven by the business role required to produce
a set of goods and services. There are various marketing functions include:
Human Resource Management: Human Resource Management is a very crucial firm for
firms with a huge value of workers. These are professionals are accountable for drawing in
expert, evaluating potentiality employees, handling staff relationships and keeping a high
quality workplace.
Account and finance: As a small manager of a firm, a person will take out accountancy or
manage the business by their self. If they are planning to recruit staff and increase their
workload, acquiring professed aid is needed. Here, it is appropriate to set up an accountancy
and economic science firm. The purpose of a firm in this section involves process taxation
returns and completing tax returns, consumer invoices, evaluating the firm's business enterprise
presentation and keeping lead of all orders. The Businessperson will also be answerable for
calculative salaries and wages, signaling revenue and recognising areas of all issues (Brotspies
and Weinstein, 2019).
Sales and marketing: These two enterprise roles are usually performed by the similar
department. The characteristics of selling and marketplace departments is for market the firm
and to reach potentiality people, current and existing partners, people who are investing etc.
The ultimate objective is to get selling and improve product recognisation. Marketing and
marketplace professionals are accountable for market research with target audiences, checking
the firm's picture on online platform, making campaigns and finding new consumers. They can
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also create templates and another promoting material, post data on the website and reaching
out to journals (Margiono, Zolin and Chang, 2018).
Marketing operations: Market activities are the responsibility of supervise the organisation's
market plan, advertising plan and total strategical plan activities. Another responsible things
involve technical evaluation and working as well as report and data analysis (Muff, Kapalka and
Dyllick, 2017).
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CONCLUSION
It is concluded from the above report that businesses are one of the most promising solutions to
the complex problems facing mankind because they can respond more quickly to emerging
issues and can develop solutions more freely than conventional companies. The business
ecosystem, on the other hand, is able to perform prototyping and market analysis of a large
number of potential innovations, accelerating progress in solving global problems.
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REFERENCES
Books and journals
Stocker, A. and Shaheen, S., 2017. Shared automated vehicles: Review of business models.
International Transport Forum Discussion Paper.
Brotspies, H. and Weinstein, A., 2019. Rethinking business segmentation: A conceptual model
and strategic insights. Journal of strategic marketing, 27(2), pp.164-176.
Margiono, A., Zolin, R. and Chang, A., 2018. A typology of social venture business model
configurations. International Journal of Entrepreneurial Behavior & Research.
Muff, K., Kapalka, A. and Dyllick, T., 2017. The Gap Frame-Translating the SDGs into relevant
national grand challenges for strategic business opportunities. The International Journal of
Management Education, 15(2), pp.363-383.
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