MG408 Graduate Challenge: Business Functions Interrelation Report

This report, prepared for the MG408 Graduate Challenge, analyzes the significance of key business functions within an organization. It defines the roles of marketing, finance, operations/production, and human resources, emphasizing their interdependencies and contribution to overall business success. The report highlights how these functions, when effectively coordinated, drive organizational performance and economic development. It draws on academic texts to support the arguments, emphasizing the importance of evidence-based writing and Harvard referencing, as required by the assignment brief. The report demonstrates the importance of these functions working together to achieve significant business success.

Graduate Challenge
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Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5
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INTRODUCTION
The report will describe about importance of different business functions to demonstrate
with academic skills. It will discuss about role of marketing, operations, production, finance and
human resources within organization and how different functions working together and
supporting the successful business.
MAIN BODY
Discuss about the importance of BBC enterprise function.
Enterprise is one of most important human activities that has been playing important role in
economic development. it is also useful for uplifting the living standards for people while
improving overall business (Pham, 2020). The importance of BBC enterprise function which
help for increasing business performance and efficiency.
 Economic development of nation: it is important for playing important role in economic
development. it can be defined by industry development and also utilise various type of
natural resources. In similarity, Commercial activities always contribute to exchange
good as well as service at international levels. In order to fulfil all requirement of
business.
 Utilising the natural resources: It is important for utilising the natural resource in business
which plays important role for improving profitability and productivity in global
marketplace.
 Employment Generation: BCBC enterprise is source of employee which will create
opportunities for large number of people in different countries. It should be required both
technical and management job in the organization.
 Increase governance revenue: BBC enterprise is an essential source of government
revenue where it contributes to government revenue in terms of sales tax, entertainment
tax and income tax. It helps for developing nation.
Define role of marketing, operations, production, finance and human resources, demonstrate the
function working together with support evidence-based success.
In BBC, there are different operational function perform such as marketing, finance,
production and human resource.
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 Marketing: It plays an important for establishing the relationship between consumers and
organizations. It will be performed activities such as publicity actions, advertising,
consumer interaction by using feedback collection.
 Production: It can be performed different function to manufacture goods for enterprises
which often in order to bring more revenue in global marketplace. In BBC, production
manager is responsible for designing an effective service which are providing awareness
in regards of service to general public (PHONE and SIGH, 2019).
 Finance: It is an essential for business because it can handle funds for organization. it is
helping for planning expenditure of funds on multiple assets. It has established coordinate
with Marketing team to identify overall cost of particular services in global marketplace.
 Human Resources: It is responsible for screening, interviewing, recruiting the new
employee. in another way, it also handles multiple task such as payroll benefits,
employee relation, training and session.
As per demonstrate that marketing, finance, human resource and production are interrelated with
each other. They are building a strong coordination between each department where they should
acquire information or data. In this way, it also identified the need and requirement of customers.
CONCLUSION
From above discussion, it concluded that significance of business functions that plays
important role in the organization and also working together to achieve significant business
success.
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REFERENCES
Book and Journals
Pham, H., 2020. Impact of human resource management practices on enterprises' competitive
advantages and business performance: Evidence from telecommunication
industry. Management Science Letters. 10(4). pp.721-732.
PHONE, M.D.H. and SIGH, B.A., 2019. Creating Value Through Human Resources. Human
Resource Management. p.1.
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