Examining the Role and Importance of Business Functions in Firms

This essay provides a detailed analysis of the role and importance of key business functions within organizations, focusing on marketing, finance, human resources, and operations. It highlights how each function contributes to the overall productivity and efficiency of a business. Marketing is responsible for promoting the brand and communicating its values to customers, while finance manages the company's transactions and budgets. The human resources department handles hiring and employee management, and the operations department manages production activities and the supply chain. The essay concludes that effective management of these functions is essential for increasing a company's productivity and achieving its goals, referencing examples such as Marks and Spencer, Tesco PLC, Asda and Unilever to illustrate real-world applications of these functions.

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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Role and importance of business functions.................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Business functions are the activities that are divided into several departments in order to
make the functioning of the business smooth (Fernandes, Sousa and TERESO, 2019). Core
functions of the business refers to those activities that mainly helps the business in revenue
generation and support functions refers to those activities that assists the main functions of the
business
MAIN BODY
Business-functions in the organisations are important as this establishes the ground for
the organisation to reach maximum productivity and profitability in the business (Raduški, 2017)
. There are four major functions in the business , these are divided on the basis of roles and
responsibilities. These four functions are discussed below in context with different organisation.
Role and importance of business functions
Marketing- This refers to the function of promotion and advertising of the brand and the
products in the market. This major role which is fulfilled by this department is to communicate
the values that the brand wants to convey to the customer. They are the one's who set up an
image of the product in the market (Steinke, Rosário and Flach, 2020). Marketing team of
Marks and Spencer uses the digital marketing approach where they promote their new products
on different types of social media's.
Finance- They play a major role in the business as they handle and manage all the transactions
related to the money. They are responsible for making the budgets and the books of the company
(Zeng, 2019). They must follow a standard approach as finance is highly sensitive area of the
companies. Tesco PLC has a huge dedicated team for handling the finance, they are responsible
for budgeting the several stores in the country. Along with this they merge the profits reported in
different stores and create the final profitability ratio of the company.
Human Resource Department- HRM is responsible for hiring and managing the workforce in
the company. They need to interact with the employees working in the organisation in order to
understand their needs and wants. They also communicate the tasks that are expected from them.
HRM department of Asda is highly qualified who hire employees according to their skills sets.

They follow different strategies and methods to effectively manage the workforce in the
organisation.
Operations- Operations department is made to manage the production activities in the business,
they are responsible for effectively managing the raw materials and product line of the business
(Tsiolkovska, 2018). Unilever produces the consumer goods and their production department
manages the quantity and quality of goods that the company manufactures. They produce the
new line of products after doing a full analysis of the inventory kept in the company.
CONCLUSION
From the above discussion it can be concluded that different departments in the
organisations have essential requirement in the business. The company must be able to manage
these functions accordingly so that the company can increase its productivity and efficiency.
Every firm forms a dedicated team for these functions so that the functions in the company can
be performed without any chaos.

REFERENCES
Books and Journals
Fernandes, A.G.G., Sousa, H. and TERESO, A., 2019. The functions and responsibilities of a
project management office to support university research centers.
Raduški, D., 2017. Basic management functions in culture and arts organisations. Management:
Journal of Sustainable Business and Management Solutions in Emerging Economies,
21(81), pp.59-66.
Steinke, A., Rosário, C.R. and Flach, D., 2020. MAPPING FUNCTIONS OF A PROCESS
BASED ON A FUNCTIONAL RESONANCE ANALYSIS: ACTION RESEARCH
USED IN A PIG PRODUCER UNIT. Revista Gestão da Produção Operações e
Sistemas, 15(4), p.78.
Tsiolkovska, S.I., 2018. The functions of management and budgeting in foreign economic
activity of agribusiness enterprises. Business Inform, (10), pp.69-74.
Zeng, Z., 2019. Different functions between leadership and management in today's enterprises.
The Frontiers of Society, Science and Technology, 1(3).