MG408: Importance of Business Functions within the Asda Company

This report examines the importance of various business functions within Asda, a retail company. It highlights the roles of the marketing department in brand promotion and product performance, emphasizing its impact on revenue and market success. The finance department's responsibilities in financial planning, budgeting, and investment decisions are discussed. The operations and production department's role in managing logistics and ensuring product quality is also analyzed. Furthermore, the report covers the human resource department's functions in employee recruitment, training, and performance management. Each department's contribution to Asda's overall objectives is emphasized, providing a comprehensive overview of the company's operational structure and strategic approach to achieving its goals. The report references several academic sources to support its analysis.

MG408 Graduate Challenge

Table of Contents
MAIN BODY...................................................................................................................................3
Importance of different business functions.................................................................................3
REFERENCES................................................................................................................................5

MAIN BODY
Importance of different business functions
Business functions are specified as various operational activities associated with the
business organisation that enable the companies to earn profits and achieve growth in the market
(Cedrola, Battaglia and Quaranta, 2016). Asda's organisation structure comprises with different
functional departments such as marketing, finance, operation/ production and human resource
department. Importance of all the departments can be demonstrated in the following manner.
Marketing Department: Marketing department involved in the brand and product promotions
of the company. All promotional activities of the company are designed, framed, operate and
control by the marketing department of the Asda (Lau and et.al., 2016). Marketing of products
and brand play a huge role in product performance in target market. Company's presence in the
target market is highly depends upon how the products of the company are getting perceived or
approached by the potential customer's in the target market. Company utilise branding and
promotional strategies with the support of marketing department to improve the product
acceptance and brand acceptance in the target market (Sharfman, 2017). Marketing also support
the company's revenue by highlighting the products of the Asda as a trendy and fashionable
product in the retail sector. Effective marketing and branding strategies of the Asda company has
become one of the major reason behind the market success of the company.
Finance Department: All financial and accounting functions operated in the organisation
structure of Asda is associated with the finance department of the company. Finance department
of the company involved in many operational activities such as framing budgets, financial
planning of the company, accounting and other associated functional roles (Morris, 2018).
Finance department of the company also involved in making investment decisions of the
company (Stošić-Mihajlović and Trajković, 2020). All aspects of investment decision making
such as evaluation, assessment, analysis, funding sources and revenue control are managed by
the finance department of the company.
Operation and Production Department: Operation and production department of the company
also a crucial department involved in the organisation hierarchy of the Asda company.
Department involved in managing company's operational activities such as inbound logistics,
outbound logistics, maintenance and other operational functions (Pace, 2016). Production
department of the Asda company involved in producing finished good's sale by the Asda

company to meet the needs and requirements of the company's target customers. Production
department also engaged with the quality assurance purposes of the company. Operation and
production department of the company highly influence the profitability of the company from its
operational activities (Markovic and Salamzadeh, 2018).
Human resource department (HRM): In order to meet the needs associating with the human
resources in the company department of human resources is a part of organisation hierarchy.
HRM engaged with recruiting and selecting employees to meet various operational needs of the
company and it also involves in improving the skills and abilities of human resources in the
organisation by giving effective training to employees (Bhattacharyya, 2017). HRM also
conducts performance management activities such as performance analysis and assessment,
incentives, bonus and other activities that can improve the employee motivation in order to
perform more productive tasks and operations.
All the above departments of Asda company associated with the organisation hierarchy
comprises to meet all the objectives of the company.

REFERENCES
Books and Journals
Cedrola, E., Battaglia, L. and Quaranta, A.G., 2016. Country reputation, brand reputation and
company reputation: Their importance in business-to-business industries.
In Rediscovering the Essentiality of Marketing (pp. 475-490). Springer, Cham.
Lau, H. and et.al., 2016. A hybrid multi-criteria decision model for supporting customer-focused
profitability analysis. Industrial Management & Data Systems.
Markovic, M.R. and Salamzadeh, A., 2018. THE IMPORTANCE OF COMMUNICATION IN
BUSINESS MANAGEMENT. BUSINESS MANAGEMENT, ENTREPRENEURSHIP
AND ENTREPRENEURIAL TENDENCIES. p.11.
Morris, A., 2018. Increasing the strategic role of HR: the importance of macro-economic
conditions. Human Resource Management International Digest.
Sharfman, B.S., 2017. The importance of the business judgment rule. NYUJL & Bus., 14, p.27.
Stošić-Mihajlović, L. and Trajković, S., 2020. The importance of marketing instruments for
market approach and operation of export companies. Journal of Process Management.
New Technologies. 8(1). pp.18-23.
Online
Bhattacharyya, B., 2017. 5 Major functions of human resource management. [Online]. Accessed
through <https://www.keka.com/5-major-functions-human-resource-management/>.
Pace, C., 2016. Why HR and IT departments should talk talk. Strategic HR Review.