Business Functions: Marketing, Finance, HR, Production Report

This business report examines the roles of marketing, finance, production/operations, and human resources within an organization. The report begins by defining the roles of each function, providing real-world examples of how they operate. Marketing is presented as the function responsible for promoting products and services, finance for managing funds, production for manufacturing goods, and human resources for managing employees. The report then emphasizes the importance of these functions working together, highlighting their interdependence. Marketing creates demand, finance provides resources, production fulfills the demand, and HR ensures a skilled workforce. The report concludes by emphasizing that all departments must collaborate to achieve business goals and objectives, supported by references to academic journals and books.

BUSINESS REPORT

TABLE OF CONTENTS
PART 1............................................................................................................................................1
Role of marketing, finance, production/ operations and the human resources with examples ...1
PART 2............................................................................................................................................2
Importance of functions/ departments to work together .............................................................2
REFERENCES................................................................................................................................3

PART 1
Role of marketing, finance, production/ operations and the human resources with examples
Marketing
This function of organisation is concerned with promoting the products and service of
organisation to people. Marketing function has critical role in the success of organisation. There
are various organisations that are recognised by the their marketing strategies that builds a image
in the minds of consumers about the products. It has the main role of creating brand awareness
among the consumers. For example: sales promotion through marketing campaigns, advertising
and cultural events.
Finance
It is referred as internal function of organisation that is concerned with procurement of
funds, management and effective utilisation of the funds. Finance function carries out different
functions such as preparing cost statements, budgets, record keeping and preparing financial
statements for the year (Shrouf and et.al., 2020). It makes sure that company is having adequate
funds for running the operations of business throughout the process and costs and expenditures
are within control. For example: deciding sources of funds, making budget and many more.
Production/ operations
The production function is concerned with manufacturing products and services of
organisation. The department analyses the demand for products of company and makes budget
for production. It ensures that the required production levels are met with the available resources.
It aims at producing the goods and services at minimal cost and controlling the unproductive
expenditures. The role of production function is important as it has to produce the goods for
meeting the demand created by marketing department. For example: Producing after analysing
demand for previous period.
Human Resource
Human Resource department deals with human assets of company. It has the role of
managing the human resource of organisation. Human department analyses the demand for
human employees and make recruitments for carrying out the functions of organisation. They
also provide training and conduct development programs for enhancing the growth of its
employees (Tjahjadi, Shanty and Soewarno, 2019). This department ensures that employees get
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healthier workplace environment where all work together. For example: It resolves issues related
to rewards, incentives and other issues of employees.
PART 2
Importance of functions/ departments to work together
All these business functions are essential and important and have their own role to be
played in the organisation. Organisation could no work effectively even without a single function
or department. Marketing function promotes the products and services in market creating the
demand for products. Finance department analyses the requirement of funds and resources to
assess the costs and expenditures to carry out the productions. Likewise, production department
is dependent over the finance department for the funds for purchasing raw materials and meeting
other production cost. All the above departments are dependent over the human resource
department for providing the required number of employees(Hirunyawipada and Xiong, 2018).
It aims at providing the best candidates and employees who are efficient and able to add value to
the organisation. Hence, it could be evaluated that all the departments are required to work
together for meeting the goals and objectives of the business.
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REFERENCES
Books and Journals
Shrouf, H., and et.al., 2020. A study on relationship between human resources and strategic
performance: The mediating role of productivity. Management Science Letters 10(13).
pp.3189-3196.
Tjahjadi, B., Shanty, H.M. and Soewarno, N., 2019. INNOVATION, PROCESS CAPITAL
AND FINANCIAL PERFORMANCE: MEDIATING ROLE OF MARKETING
PERFORMANCE (EVIDENCE FROM MANUFACTURING INDUSTRY IN
INDONESIA). Humanities & Social Sciences Reviews. 7(1). pp.278-290.
Hirunyawipada, T. and Xiong, G., 2018. Corporate environmental commitment and financial
performance: Moderating effects of marketing and operations capabilities. Journal of
Business Research. 86. pp.22-31.
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