MG408 - Business Report: Importance of Business Functions & Skills

This business report defines and discusses the importance of various business functions—Management, Operations, Marketing, Accounting, Finance, Strategy, Human Resources, and Technology—in demonstrating core academic skills such as evidence-based writing and Harvard referencing, as required by the MG408 The Graduate Challenge module. It emphasizes how these functions, when working together effectively, contribute to the success of organizations. The report also highlights the application of academic skills within each function, such as strategic planning in management and resource analysis in accounting, with references to academic texts. It concludes by reinforcing the value of appreciating and managing students' skills in preparation for their future careers.

Business report

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Importance of different business functions to demonstrate core academic skills........................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Business function is an activity that performed to enhance the function of the business by
the department of organization. This report includes the importance of different business
functions and academic skills of students.
MAIN BODY
Importance of different business functions to demonstrate core academic skills
Business function determined the level of the organization that shows the working
behaviour of the company and their capabilities. Business function also ensure the company runs
properly and does well for their customers. Function of business are method to view the process
and procedure of the business. The key function of business that is the core of academic skills
also (Zelazo, Forston, Masten, and Carlson,2018).
Management:- this is the primary role of the business and for academic skills to learn.
Management activity falls under these categories; planning, organizing, controlling, leading.
Operation:- operation is the process where the input converted into output for e.g., Students will
apply the skills they learn and train for. Operation is the main part of the business. In many start-
up businesses the business operation perform many roles for run the business in the initially
period.
Marketing:- marketing include all those activities that company needs to run their company for
increase their productivity of goods and services. Like, promoting the goods and services of the
company. Most of the business uses inside out approach for their business to doing marketing
(Lai, 2021).
Accounting:- accounting provide the business to gain information about the resources and work
done by the company. Ultimate goal of this method is to analyse the transaction of the business
in internal and external. There are two types of accounting; financial accounting and managerial
accounting. In financial primary work is preparation of financial statement. In managerial
accounting providing information about the budget, asset, and business performance appraisal.
Finance:- finance function of the business need planning for managing the business funds for
long-term or short term. Business finance department is answerable for the funding and loans
that business taken or going to take. (Cannella-Malone, Dueker, Barczak, and Brock, 2021).

Strategy:- business function main aim to strategies the all operation business and operate them
to see the business mission and vision. Strategy in the business analyze the competition in the
business and how they will access the opportunity.
Human resource:- human resource are the top management of the organization that hire
employee that suitable for their company, and they have ability to hire the employee and manage
them in the coordinating way for the business they run.
Technology:- not only humans or equipment enough to regulate the business now a days in the
business technology take place also in the business. In business technology need in every sector
of the business whether to track the transportation or set budget.
CONCLUSION
Business function mainly used for mange the activity in the company. This report
concludes the appreciation and managing students for their future before their work life start
would great for them.

REFERENCES
Books and Journals
Cannella-Malone, H.I., Dueker, S.A., Barczak, M.A. and Brock, M.E., 2021. Teaching academic
skills to students with significant intellectual disabilities: A systematic review of the
single-case design literature. Journal of Intellectual Disabilities.25(3). pp.387-404.
Lai, Z., 2021. Research on Advertising Core Business Reformation Driven by Artificial
Intelligence. In Journal of Physics: Conference Series (Vol. 1757, No. 1, p. 012018).
IOP Publishing.
Sagnak, M., Ada, N., Kazancoglu, Y. and Tayaksi, C., 2017. Quality function deployment
application for improving quality of education in business schools. Journal of Education
for Business.92(5). pp.230-237.
Zelazo, P.D., Forston, J.L., Masten, A.S. and Carlson, S.M., 2018. Mindfulness plus reflection
training: Effects on executive function in early childhood. Frontiers in psychology.9.
p.208.