Graduate Challenge: Examining Business Functions and Importance

This report provides an overview of the Graduate Challenge, focusing on key business functions such as marketing, finance, human resources, and production. It details the role of each function within an organization, explaining how marketing promotes the business, finance manages funds, production transforms inputs into outputs, and human resources maximizes employee productivity. The report also emphasizes the importance of these functions in achieving organizational goals, optimizing resource utilization, preventing work duplication, and establishing a well-coordinated organizational structure. It concludes that effective management across these functions is crucial for an organization's success. Desklib offers a range of solved assignments and study resources for students.

The Graduate challenge

Table of Contents
Introduction...........................................................................................................................................3
Business Functions................................................................................................................................3
Role of Marketing..............................................................................................................................3
Role of Finance.................................................................................................................................3
Role of Production.............................................................................................................................3
Role of Human Resources.................................................................................................................4
Importance of all the functions..............................................................................................................4
Conclusion.............................................................................................................................................4
References.............................................................................................................................................5

Introduction
The report focuses upon the Graduate Challenge. The report has highlighted various
functions like marketing, Finance, Human Resources and Operations. Also, importance of
management functions has been discussed in the report (Huang and et.al., 2020).
Business Functions
Role of Marketing
The marketing functions performed at various organisations. the marketing function
has significant role to play where in the business is promoted in order to achieve the mission
of the organisation. The role of marketing department is to to reach out to various prospects
investors customers as well as community in order to create an overarching image that is
going to represent the company in positive aspects. In the present scenario marketing function
is performed in several ways which include digital marketing content marketing science and
customer experience. The marketing function aims to generate revenue for a brand or an
organisation which involves marketing professionals to execute actions in order to achieve
the mission of the organisation (Jones and et.al., 2017).
Role of Finance
Finance function is responsible for or monitoring and acquiring funds at the organisation.
Finance function is very crucial as it involves management of funds within an organisation
which further involves planning various expenditures that are going to take place in form of
assets within the organisation. Various businesses and industries are required to be financed
by the financial systems in order to lead towards growth in terms of employment which
further results in in rise in in economic activities and domestic trade. Finance function is
helpful in in improving investment efficiency is that it may lead to growth of the organisation
along with monitoring the cash inflows and cash outflows.
Role of Production
Production function is also very crucial part of an organisation. The production functional
area is helpful in in turning the inputs of the organisation into finished output. The production
process is carried out through a series of stages. The role of production function is to ensure
that the raw materials are in optimum capacity so that the production can be done smoothly at
the organisation. Also the production function plays a crucial role in controlling production

along with quality and cost control inventory control as well as maintenance and replacement
of the machines as and when required (Keeling, 2018).
Role of Human Resources
The human resource function also has a crucial role to play in an organisation full stop the
role of the human resource is to maximize the employee productivity and further protect the
organisation from various issues that may take place within an organisation due to the
workforce. Further the human resource plays a crucial role in terms of providing
compensation as well as benefits to the employees, recruitment selection, firing as well as
retention at the workplace. Also so the Human resource department is required to be updated
with the laws in respect of organisation and its employees (Lam and et.al., 2019).
Importance of all the functions
Each functions of an organisation have its significance in its own ways. It is important for the
organisation to be updated with the various functions as they are helpful in several ways. The
importance of all the functions of management at the organisations has been discussed below.
 The functions help in achievement of goals of the organisation.
 The functions facilitate optimum utilisation of resources of the organisation. It further
focuses upon sustainable use of resources with minimal wastage.
 Functions of management help the organisation to avoid duplication of work ok which
further results in in cost reduction of the organisation.
 The function of management helps in establishing a sound organisation which
operates and functions in a smooth and coordinated manner. It also helps in in
fulfilling the objectives of the organisation (Mayumi and et.al., 2018).
Conclusion
It can be concluded from the report that management plays a crucial role in the
organisation. The report has discussed roles of various functions along with the importance of
the functions.

References
Books and Journals
Huang, Z. and et.al., 2020. The battle against coronavirus disease 2019 (COVID-19):
emergency management and infection control in a radiology department. Journal of
the american college of radiology, 17(6), pp.710-716.
Jones, L. and et.al., 2017. TFOS DEWS II management and therapy report. The ocular
surface, 15(3), pp.575-628.
Keeling, D., 2018. Management in government. Routledge.
Lam, C.S. and et.al., 2019. SGLT‐2 inhibitors in heart failure: current management, unmet
needs, and therapeutic prospects. Journal of the American Heart Association, 8(20),
p.e013389.
Mayumi, T. and et.al., 2018. Tokyo Guidelines 2018: management bundles for acute
cholangitis and cholecystitis. Journal of Hepato
‐biliary
‐pancreatic Sciences, 25(1),
pp.96-100.