MG408 Business Report: Importance of Business Functions in Asda

This report delves into the critical roles of various business functions, including marketing, finance, production/operations, and human resources, within a business organization, using Asda as a case study. It emphasizes the significance of each function in contributing to the overall success and prof...Read More

Business

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
The importance of different business functions.....................................................................1
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
The term “business organisation” refers to the overarching entity that is being created
with the goal of carrying on commercial activities such as manufacturing and trading. The major
goal is to increase profitability and produce high revenues in this way. Sole proprietorships,
corporations, and other types of business ventures are only a few examples. In addition, the
research is based on Asda, a retailer that specialises in financial, services, and general items. The
importance and role of business functions will be discussed in this essay.
MAIN BODY
The importance of different business functions
The business functions can be defined as a collection of actions carried out with the
purpose of generating revenue for a company. Asda is the largest supermarket chain in this
regard, with numerous units and operations to examine in order to improve overall profitability.
The importance and role of many business functions are explored in relation to Asda:
Marketing is responsible for the complete process of discussing, introducing, and
promoting key offerings within the market in order to raise client awareness. Furthermore,
Asda's marketing department plays an important role in promoting and explaining the products
and services with which they deal, as well as in recruiting new customers and making
appropriate purchases (Bommaraju and et. al., 2019). To keep ahead of their competitors, they
also engage in inventive marketing. For this reason, the relevance of this unit is that it helps
businesses establish strong and long-term relationships with their customers by ensuring that
customers are properly involved in the success and survival of their company.
Finance is the effective functional area of the business whose primary task is to raise
funds for the effective operations of the business, as well as to work to raise funds for the
operations of businesses and to work to allocate them to the other units so that each department
can carry out their appropriate functions in an essential manner. The fundamental job of the
financial unit at Asda is to plan, acquire, and manage an organization's expenses in order to
effectively allocate resources (DePaula, Dincelli and Harrison, 2018). It is critical for the
company's survival because it ensures the seamless operation of the firm.
In production, several steps are involved in the process of transforming raw materials into
finished goods in the production unit. The basic function of the production function at Asda is to
1

collect all raw materials and convert them into finished goods for effective customer reach
(Wang and et. al., 2019). It is critical that it contributes to the entire value of the offers in order to
create and sustain proper relationships for a longer amount of time based on high-quality items.
Human resources are another functional unit whose key responsibility in Asda is to hire
the best applicants for the proper position and the correct work so that the company's functions
can continue to be carried out (SEKHRI, 2020). As it is a critical functional area where Asda
assists in the hiring of candidates with the appropriate skills and knowledge, the company's goals
and objectives are met on time.
As a result, it has been determined that the business departments must collaborate to
generate high-quality offers for customers in order to meet their business objectives.
Furthermore, all units must operate together as a team, as there must be coordination among
them in order to avoid confusion, which can sabotage an organization's overall effectiveness. As
a result, the method in which the business functions collaborate on their activities is critical.
CONCLUSION
As a result, it has been determined that organisations that handle HR, marketing, production,
and other operations examine a variety of business functions. These are the functions that
collaborate to improve coordination and cooperation among all factors that contribute to the
company's goals.
2

REFERENCES
Books and Journals
Bommaraju, R and et. al., 2019. Does a customer on the board of directors affect business-to-
business firm performance?. Journal of Marketing, 83(1), pp.8-23.
DePaula, N., Dincelli, E. and Harrison, T.M., 2018. Toward a typology of government social
media communication: Democratic goals, symbolic acts and self-
presentation. Government Information Quarterly, 35(1), pp.98-108.
SEKHRI, O., 2020. The Relation between ESP and GE and their Effect on Designing the
Courses among Teachers of English in Departments of Constantine 1
University. International Arab Journal of English for Specific Purposes, 3(1), pp.53-66.
Wang, S and et. al., 2019. Harnessing business analytics value through organizational absorptive
capacity. Information & Management, 56(7), p.103152.
3