MG408 - Business Functions Report: Importance and Collaboration

This report examines the core functions of a business, including marketing, finance, human resources, and operations. It defines the roles and responsibilities of each department, highlighting their individual contributions to organizational success. The report emphasizes the critical importance of collaboration between these functions, providing evidence and examples from successful organizations to illustrate how effective teamwork drives productivity, efficiency, and the achievement of business objectives. The analysis underscores the interconnectedness of these departments and their combined impact on overall business performance, emphasizing the need for integrated strategies and communication to foster a cohesive and high-performing work environment. The report also includes a discussion on the implications of these functions working together and how it helps in achieving the business success.

Different Function of a
Business

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Business functions and its importance........................................................................................1
Importance of collaboration of all functions...............................................................................2
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

EXECUTIVE SUMMARY
Business organization functions are the core element of the company which support and
maintained the workplace environment as well to accomplish the company aim & objectives.
Present report has been discussed the different roles of business organizations such as finance,
Marketing, Operational and Human Resource.
INTRODUCTION
Business Functions of the organizations are interlinked with the aim of the whole
organization. Present study will describe the different functional area of Tesco and also explains
the role of such functions at workplace. Further, it will also outline the core activities performed
by such functional departments as well. Further report will perform the task to understand the
role of business functions in order to achieve the business objectives. Business objectives also
fulfills the business results and also helpful to accomplish the business requirement.
MAIN BODY
Business functions and its importance
There are several business functions like marketing, purchasing human resource and
finance. All these functions have different responsibilities and perform different functions which
are described as follows:
Marketing: The main function of marketing department of an organization is to introduce
company's products and services to target customers. They also help the company in promoting
their products with the main aim of attracting them and increase sales of the company. It has a
strong relationship with other department as it collects informations related to customers like
their needs and demands. These informations are useful for other departments.
Human resources: Human resource department is mainly responsible for hiring, recruiting,
motivating and training of employees. By applying the best policy of recruitment they hired
skilled workforce and motivate them towards accomplishing organizational goals. They also
provide training to them for increasing their skills.
Sales: The main aim of sales department is to provide and deliver products of the
company to target and the right customers. It is the main function of an organization as they are
mainly responsible for making sales and growing business (Park and et.al., 2016).
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Finance: Finance department also plays an important role as it is mainly responsible for
acquiring funds for the company and manage them in an effective manner. The main aim of
managing funds is to reduce cost and increase sales (Taylor and et.al., 2015).
Importance of collaboration of all functions
It is essential to have great interaction between all departments , this may help in managing
work in smooth manner and raising productivity of the firm to great extent. Company always
ensure to build healthy collaboration between functions so that information can be exchanged on
time and it can support in raising productivity of the firm.
CONCLUSION
It has been analysed from the above task that at what extent business organization
functions are useful for the company to achieve the business success and also fulfilling the task
and results. So overall it has been concluded that how much all such task is useful for the
company to focus on the core areas of the business. Also, such functions can helpful to get more
business achievements.
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REFERENCES
Books & Journals
Bloom, T., 2015. The business of migration control: Delegating migration control functions to
private actors. Global Policy. 6(2). pp.151-157.
Brannen, M.Y., Piekkari, R. and Tietze, S., 2017. The multifaceted role of language in
international business: Unpacking the forms, functions and features of a critical challenge
to MNC theory and performance. In Language in international business (pp. 139-162).
Palgrave Macmillan, Cham.
Painter, M., Pouryousefi, S., Hibbert, S. and Russon, J.A., 2019. Sharing vocabularies: Towards
horizontal alignment of values-driven business functions. Journal of Business
Ethics.155(4), pp.965-979.
Park, J.H. and et.al., 2016. Mentoring functions and turnover intention: The mediating role of
perceived organizational support. The International Journal of Human Resource
Management. 27(11). pp.1173-1191.
Taylor, P. and et.al., 2015. The global landscape of cognition: hierarchical aggregation as an
organizational principle of human cortical networks and functions. Scientific reports. 5.
p.18112.
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