MG408 Graduate Challenge: Business Functions Report and Importance

This report, prepared for the MG408 Graduate Challenge, explores the critical roles of marketing, finance, operations/production, and human resources within an organization, specifically referencing Mark & Spencer. The report defines each function, emphasizing their individual contributions to organizational success, such as marketing's role in customer relations and finance's role in fund management. It highlights the importance of these functions working cohesively to achieve business objectives, increase market growth, and enhance profitability, supported by evidence-based writing and Harvard referencing. The conclusion reinforces the significance of these functions in driving customer acquisition, financial stability, and overall business success.

Graduate
challenge

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................3
INTRODUCTION .........................................................................................................................3
MAIN BODY ..................................................................................................................................3
CONCLUSION ..............................................................................................................................4
REFERENCES ...............................................................................................................................5

EXECUTIVE SUMMARY
As per the above report has been analyzed the role of marketing in Mark & Spencer
company , this report has been also conclude finance , operation, HRM and production of the
company.
INTRODUCTION
this report will cover the marketing function , human resource management operation and
production of the M&S company this report will briefly explain how they all fictions work
together and how this functions can make any organization successful.
MAIN BODY
Marketing
Marketing is one of the essential part of the Mark & Spencer, because it help company
make good relation with the customers. Marketer of the company find customers who but
product and increase profitability of the company. Marketing help M&S Spencer to achieve
objective of third business (Allen, Hurcan and Queyranne., 2016). Marketers find what actually
people want and what are their basic need according to that they make strategies to develop
product which can satisfy needs of the customers and company any gain customers loyalty.
Marketer of the company know where they can find potential customers of the company and this
help company to take competitive advantage.
Finance
Finance function of the Mark & Spencer company is responsible to provide a required
fund for the company. The main role is to make plan related to the funds and they decide how
much company will spent on the p0roduct and assets of the company. Financial management of
M&S mange of they process of the company and help to achieve business objectives. Finance
mangers decide from which funding source they should use to provide required fund to the
company.
Operation and production
operation function of the company include the supervising ,planning and controlling
activities which which helps in production of the goods. This provide satisfaction to the
customers and this will generate more profit for the Mark & Spencer company. Production
management decide the shape and design of the product and operation function control and

monitor all the activities during then production of the goods. They both fiction work with each
other an also helps M&S to increase their market and customers growth.
Human resource management
human resource management has important role in Mark & Spencer because they helps
to provide planning , recruiting and helps employees to achieve organizational goals (Galganski,
Urbanek and Krzyzosiak., 2017). Without strong HRM team company can't be successful. HRM
management provide beneficial practices for employees of the company so they can perform take
and improve their skills. They also helps M&S in decision making process. HR mangers recruit
employees foe company according to the job specification.
Importance of those function In the Mark & Spencer
this all function are impotent for this company because without this all function
company cannot achieve organizational goals. Main motive of the organization is to increase
their growth and reputation in the market. This all function helps company growth and increase
profitability.
CONCLUSION
This report has been briefly explain that how marketing fiction help company to make
new customers, it has been also explain the important functions of the company like finance
production/operation and HRM impotence to make business successful.

REFERENCES
Books and journal
Allen, R., Hurcan, Y. and Queyranne, M., 2016. The evolving functions and organization of
finance ministries. Public Budgeting & Finance.36(4). pp.3-25.
Galganski, L., Urbanek, M. O. and Krzyzosiak, W. J., 2017. Nuclear speckles: molecular
organization, biological function and role in disease. Nucleic acids research.45(18). pp.10350-
10368.