MG408 - The Graduate Challenge: Importance of Business Functions

This report provides an overview of the importance of various business functions within an organization, using Sainsbury Company as a reference. It highlights the significance of marketing in promoting products and services, finance in managing investments, operations in producing desired outcomes, and human resources in recruiting and managing talent. The report emphasizes how the effective implementation of these functions contributes to achieving organizational goals, increasing brand value, and fostering a positive work environment. It concludes that managing these business functions effectively is essential for the overall productivity and success of a business.

MG408 THE GRADUATE
CHALLENGE

TABLE OF CONTENT
INTRODUCTION......................................................................................................................2
MAIN BODY.............................................................................................................................3
Importance of different business function..............................................................................3
CONCLUSION..........................................................................................................................4
REFERENCES...........................................................................................................................4
INTRODUCTION
Business functions are the set of activities used by the firm to produce a goods and
services for successful items (Davenport, 2019). Sainsbury Company is the retailer company
located in London, England, UK. This report describes the importance of different business
function.

MAIN BODY
Importance of different business function
Business functions are defined as a internal function which is performed by the
organisation in order to carry out their desired operations to achieve desired goals or
objectives. Every function has different approach which is implemented in the business
strategy in order to get more revenues. Business functions are-
Marketing role:
Marketing is defined as a promotion or advertisement of the product and services of the
organisation. Marketing department of the Sainsbury ensures that the marketing strategies are
implemented well in order to maximise the sales of the product. It is the foremost
responsibility of the marketing team to use unique approach to promote the product so it will
attract the customer (Hertati and et.al 2020). Company can also proceed to use the digital
marketing technology which enables them to promote their product on different digital
platform. By using of this marketing approach can able to develop more customer base for
the company which is beneficial to achieve the successful objectives.
Finance:
It is the process which is associated with the banking, credits or capital effective finance
allows the businesses to make investment in other projects. For the Sainsbury Company their
finance department work efficiently to implement the budget for each process therefore there
will be no wastage of resources.
Operation:
Operation or production consists of set of action which is implemented by the organisation to
produce desired product which can able to give good outcomes. For the Sainsbury it is
important for their company to give a proper training to their employees or to provide them
better environment so that they efficiently carried out the operation which will be able to
make them strong in their market field or to get more revenues for the company.
Human resource:
Human resource is the effective business function for the organisation. HR team consists of
group of people who recruit or manage the resources of the organisation. Therefore for the
Sainsbury Company it is important for their Human resource team to hire a talent who
possess all the skills and knowledge related to their work (Ekpo, Etukafia and Udofot, 2017).
Human resource team also responsible to provide better training or mentoring to the
candidates so that they will adjust in the company’s environment. HR team also manage the
resources for good business practice.
Therefore, effectiveness of these business functions enables the company to achieve
their goals. It enables good environment in the organisation so that effective result come out.
Organization need to manage all their business function for the productivity of their business.

CONCLUSION
From the above report it is concluded that the good business functions makes the
organisation to make move in forward direction. Effectiveness of its different function could
able to increase brand value of organisation. This report described the business function
which involved the finance, human resource, marketing or operation.
REFERENCES
Books and journals
Davenport, T.H., 2019. Is HR the most-analytics driven function. Harvard Business Review,
https://hbr. org/2019/04/is-hr-the-most-analytics-driven-function.
Ekpo, N.B., Etukafia, N. and Udofot, P.O., 2017. Finance manager and the finance function
in business sustainability. International Journal of Business, Marketing and
Management. 2(1). pp.31-38.
Hertati, L. and et.al 2020. The effects of economic crisis on business finance. International
Journal of Economics and Financial Issues. 10(3). p.236.