MG408: Analyzing the Interplay of Business Functions for Success

This report analyzes the importance and effectiveness of various business functions, including human resources, marketing, finance, and operations/production, within an organization. It emphasizes how these functions must work together synergistically to achieve organizational goals and overall business effectiveness. The report highlights the challenges students face in developing practical knowledge in these areas and stresses the significance of proper financial management and resource allocation. It concludes that the effective engagement and development of multiple functions, along with proper management, are crucial for an organization's survival and success in a competitive market. This document is available on Desklib, a platform offering a range of study tools and solved assignments for students.

MG408 The Graduate
Challenge

Table of content
MAIN BODY...................................................................................................................................3
Importance of different business functions..................................................................................3
Effectiveness of different function work together........................................................................4
CONCLUSION................................................................................................................................5
REFERENCES.............................................................................................................................6

MAIN BODY
Importance of different business functions
Business is develops by combination of multiple activities and its main or major target is
to achieve customer attraction towards with their products and services and for income generate.
So it’s essential every individual consider in future that they become business man they have to
analyze and review about numerous business related aspects like human resource management,
marketing, sales, operation and production, finance and many more (Bertassini and et.al., 2021).
Human resource:
For becoming a human resource manager or human resource department employee its
essential student must be recognize some essential factors which are provides benefits in future
like they have to improves their communication skills, time management skills, analysis of other
people skills because their major work is to recruit and management of individual work
performance.
Marketing:
Career development in marketing field mainly requires target audience attraction
achievement and different advertising technique which beneficial for distribution of product
knowledge in market. Utilization of technological tools for effective marketing is essential
because according to recent market trends it influence performance of overall business. So it’s
very essential that individual which wants to build their career in marketing field they have to
develop skills accordingly.
Finance
Finance is all above cost management of overall business activities. Individual which
consider to build their career in finance they have to develop knowledge in financial
management, cost management, but when they have not practical knowledge then not easily

utilize and apply effective price management for long term business growth and expansion of
new resources, technologies et in organization.
Operations/ production:
Operation management has responsible to product making activity, require resources
availability and management of effective production process and supply chain management plan
major role for expansion of effective and proper operation management. Individual which wants
to makes their career in production operation field they have to build knowledge in product cost,
restore of product, timely availability of product and many more. And most of the student faces
challenges when they build their career in this field because they not have practical knowledge.
Effectiveness of different function work together
Almost every one has knowledge about that business is all above combination of multiple
functions and individual work performance influence other business factor. Individual which
develop their career in organization or any business they have to recognize and practically
analyze that which factors influence business effectiveness development.
Financial management proper expansion in organization is not and easier process and if
organization properly manage this activity or function it influences performance of overall
business as well as develop new growth opportunities (Azadsarv, Maftoon and Rashtchi, 2021).
But when management of cost is not perfect it impacts on availability of resources which means
it impacts on operation performance, marketing activity, human resource performance.
So it’s essential that business develop and implement proper structure and control
financial aspects and properly distribute work for effectiveness improvement in business
performance.

CONCLUSION
It has been summarized form the above study that engagement and development of multiple
function makes organization effective but proper utilization and proper management is the only option
which improves quality of management. This study has been effectively provided information about
organization different function when do their work with effective manner they easily survives in
competitive market and get new opportunities as well.

REFERENCES
Book and journal
Bertassini, A. C., and et.al., 2021. Circular Business Ecosystem Innovation: A guide for mapping
stakeholders, capturing values, and finding new opportunities. Sustainable Production
and Consumption. 27. pp.436-448.
Azadsarv, M., Maftoon, P. and Rashtchi, M., 2021. Importance of the Needs Analysis of Deck
Engineering ESP Students: Developing a Needs Analysis Questionnaire through Factor
Analysis. Journal of Research on Management of Teaching in Marine Sciences. 7(4).
pp.149-163.