Business Functions: Importance & Integration CW1 Graduate Challenge

This report defines and evaluates the importance of various business functions within a business, including Human Resource Management, Account and Finance, Sales and Marketing, and Market Operations. It emphasizes how these functions must work together, with supporting evidence based on successful organizations. The report uses academic texts to define each function and demonstrates core academic skills of evidence-based writing and Harvard referencing. It concludes that businesses can respond quickly to emerging issues and develop solutions more freely than conventional companies.

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
An entity means the sale, purchase and sale of goods or services for a profit. It is an organization
where people work together to provide goods, services and services. Businesses create jobs
because they need to provide and sell to their customers their goods and services. This report
covers the importance of different business activities to demonstrate key educational skills based
on successful organizations. It is very different when a company team combines its goals, ideas,
developments that help improve its performance to achieve its benefits and objectives. (Galea,
2017).
Various business functions:
A business function describes internal attitude performed by a role of business that is needed to
produce a set of commodities and services. There are various marketing functions include:
Human Resource Management: Human Resource Management (HR) is one of the best and an
essential enterprise to firms with a big amount of workers. Human resource professionals are
accountable for drawing in expertness, evaluating potentiality employees, directing employee
relationships and hold over a high quality workplace.
Account and finance: As a normal businessman of a firm, a person can take up explanation or
run the business themselves. If they are planning to recruit staff or expand their work,
acquiring professed aid is a must. In this process, it is appropriate to set up an account and
economics section. The department's enterprise role consider process taxation returns and
completing tax returns, purchasing invoices, evaluating the organization business enterprise
execution and tracking all orders. The Businessperson is also answerable for solving salaries
and wages, signalling income and recognising difficulty places. (Nair and Blomquist, 2019).
Sales and marketing: These two enterprise roles are usually performed by the similar team.
The part of selling and market places is marketing the firm and reaching out to capable people,
present and existing collaborators, bankers etc. The main aim is to bring out selling and
increment in product consciousness. Marketing and its professionals has responsibility for
marketplace research and goal audience, watching the firm's picture on social media, making
campaigns and gaining fresh consumers. They can also create pamplet and other advertising
materials, post content on the website and hold out to reporters.
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Market operations: Market activities are responsibility of supervising the marketplace plan of
an industry, advertisement plan and final strategical plan of activities. Other responsible things
involves technical and operational evaluation as well as report and information analysis (Halbert
and Ingulli, 2020).
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CONCLUSION
It is concluded by 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 capable of 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
Galea, C. ed., 2017. Teaching business sustainability: From theory to practice. Routledge.
Nair, S. and Blomquist, T., 2019. Failure prevention and management in business incubation: practices towards a
scalable business model. Technology Analysis & Strategic Management, 31(3), pp.266-278.
Halbert, T. and Ingulli, E., 2020. Law and ethics in the business environment. Cengage Learning.
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