CW1: Importance of Business Functions in Successful Organizations

This report analyzes the significance of different business functions, including marketing, finance, operations, and human resources, in achieving organizational success. It highlights how each function contributes uniquely to a company's objectives and emphasizes the importance of their synergistic collaboration. The report provides examples from companies like TESCO, Sainsbury's, Amazon and Astra Zeneca to illustrate the practical application of these functions. The report concludes that a comprehensive understanding and effective management of these core functions are essential for businesses to thrive and achieve their long-term goals, while also addressing challenges faced by graduate students in developing core academic skills.

The Graduate Challenge
CW1

Table of Contents
INTRODUCTION ..........................................................................................................................4
MAIN BODY...................................................................................................................................4
Explain the importance of different business functions and also describe about importance of
all these functions working together well with support of successful organisations .................4
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Graduate challenge refers to that challenge where students get actively involved in each
challenge. Apart from business knowledge which is gained through the process where students
are expected to improve and gain their communication skills, teamwork and time management
skills(Bridgstock and Jackson., 2019). There are some challenges at graduate level which
involves lack of motivation, time management, lack of support from supervisor etc. The present
report will cover analysis about importance of different business functions for demonstrating
core academic skills.
MAIN BODY
Explain the importance of different business functions and also describe about importance of all
these functions working together well with support of successful organisations
Business functions are the activities which are carried out by an enterprise and they are
divided on the basis of core and support functions. The major four functions of business are
Marketing, Finance, operations and Human resource and it is defined into following manner:
 Marketing as business function: Marketing is a set of activities which is related to
communicating, delivering, exchanging offers that have value for others. Under business,
the function of marketing is bring value for customers whom the business seek to satisfy,
identify and retain. Marketing is important for business because it support in terms of
selling products and services and also help in terms of building brand image. With
reference to TESCO company, they make extensive use of print and media advertising as
tested channel for promotional messages to potential and current consumers.
 Finance as business function: The finance function is important because it is a kind of
source to run any organisation and also it provides, acquire money in order to run
organisation into successful manner (Han and et.al., 2015). With respect to Sainsbury's
company, the finance department has various opportunities from business partnering to
technical accounting. All the decisions which are taken by the company whether it is
related to pricing system then it is dependent on finance department of a company.

 Production as business function: A production department within a business which is
majorly responsible for manufacturing of goods. It may employee machine setup
specialists, machine operators and maintenance personnel(Motjolopane., 2019).With
respect to Astra Zeneca company where medicines and other vaccines are produced with
proper ethics and procedures so that they can deliver best products to their customers.
 Human resource as business function: Human resource is important for business
because it support in terms of developing, changing and reinforcing the culture of an
organisation. With reference to Amazon company, HR team partners with and influence
the business leaders with support of data to drive important decisions.
All these functions are important for an organisation because these are core functions of any kind
of business for achieving their overall objectives and targets as well (Vik and Sacco., 2021).
Every function has their own role for running an organisation into successful manner. That's why
all the four basic functions of business are very important for achieving success in terms of long
run.
CONCLUSION
The above stated report concludes that there are certain challenges a business student has
to face and these can be resolved through finding solutions for it. It has been concluded that at
organisational level there are certain functions which are necessary for a business to achieve
targets into successful manner.

REFERENCES
Books and Journals
Bridgstock, R. and Jackson, D., 2019. Strategic institutional approaches to graduate
employability: navigating meanings, measurements and what really matters. Journal of
Higher Education Policy and Management, 41(5), pp.468-484.
Han aqnd et.al., 2015. Will they stay or will they go? International graduate students and their
decisions to stay or leave the US upon graduation. PloS one, 10(3), p.e0118183.
Motjolopane, I., 2019, June. Teaching Introductory Graduate Research Methods Course:
Student-Centered Approach Reflections from Practice. In 18th European Conference on
Research Methodology for Business and Management Studies (p. 240).
Vik, L. M. and Sacco, K. K., 2021. Empowering Student Learning Through Adventure-Based
Counseling Activities: Educational Adventures in Graduate Classrooms. In Reshaping
Graduate Education Through Innovation and Experiential Learning (pp. 232-251). IGI
Global.