MG408 The Graduate Challenge: Evaluating Business Functions Role

This report discusses the importance of various business functions within an organization, including Human Resource Management, finance, marketing, and production/operations. It highlights how each function contributes to the overall success of a business and emphasizes the interconnectedness ...Read More

The Graduate
Challenge

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION ...............................................................................................................................4
REFERNCES:..................................................................................................................................5
Books and Journals:....................................................................................................................5

INTRODUCTION
Business functions refers to such activities that are carried out by an organisation.
Depending on the nature and type of business industry, one needs to set up several departments
within the firm (Ampong, 2020). Sales, accounting, marketing, production and R&D are few
examples. Such business functions will keep the company running smoothly and boosts its
achievement and success. The following assessment is based on the discussion of various
functions of business and how their role is important in the business.
MAIN BODY
Business functions are the operations and processes that make sure the proper functioning
of company. As there are various departments in the business, each department will involve of
professional who is expert in certain field such as digital advertising, data analytics rather than
wearing various hats. Business function such as Human Resource Management, is the core
function of business which is focusing on the management of employees from recruiting to
compensating and rewarding. It can also deploying the employees in the company. It focuses on
the identification of requirement of employees in each department such as marketing or
production. It outlines the number of vacant seats and designations of job in other department,
then recruit and select the employees who have right qualifications and expertise while
facilitating them appropriate training to encourage them to be more productive at their tasks. For
example, there is a need of marketing employees in the Tesco Company, then HR department
will coordinate with the marketing department to know about the needs to be fulfilled.
The role of finance department is also crucial in the company which focuses on the
management of funds. It deals with all the requirements of funds. Suppose, Tesco is needed a
fund to raise marketing campaign for the brand, then first it is needed to coordinate with finance
department in order to generate a budget for the campaign and then it has to work within the
limit of pre-decided budget (Lima Fogaca, Koppang and Zizzi, 2018). It also plays a role to
provide salary in the company while managing the accounts of debtors and creditors.
The marketing functions is a fundamental function in order to promote a brand and its
offerings in the market. Marketers will know the demands and requirements of customers so that
they deliver goods or services accordingly. It can coordinate with the production department to

provide the information of quantity of certain goods so that can deliver as per the demand of
consumer.
Moreover, the production or operation department plays a role to convert the raw
materials into the finished goods through various procedures (Watson and Stelle, 2018). The
main aim of this department is to manage and maintain the quality and design of the goods so
that it can distribute in a better way.
CONCLUSION
It is concluded from above part is that business is consist with various functional areas
such as marketing, HR, production/operational or finance. It is also found that all such functions
are inter-related with each other and cannot work solely.

REFERNCES:
Books and Journals:
Ampong, E., 2020. Graduate Unemployment In Ghana: Challenges And Workable
Strategies. Graduate Unemployment In Ghana: Challenges And Workable
Strategies, 57(1), pp.22-22.
Lima Fogaca, J., Koppang, R. M. and Zizzi, S. J., 2018. Three pathways to supervision in
applied sport psychology: Challenges and strategies to deliver effective supervision in
graduate programs. Journal of Sport Psychology in Action, 9(3), pp.172-181.
Watson, W. and Stelle, C., 2018. USING SERVICE-LEARNING IN GRADUATE
EDUCATION TO ENGAGE STUDENTS AND THE COMMUNITY:
OPPORTUNITIES AND CHALLENGES. Innovation in Aging, 2(Suppl 1), p.695.