MG408: Business Report on Marketing, Finance, Operations, HR

This report analyzes the roles and importance of marketing, finance, operations, and human resources within a business context. It defines the key functions of marketing (product, place, price, promotion), finance (management of money), operations (creating products/services), and human resources (recruitment and management). The report emphasizes the importance of each function, highlighting marketing's role in sales, finance in fund management, operations in production efficiency, and HR in employee management and organizational culture. The report provides examples of how these functions are critical for business success and competitiveness. The report concludes that these functions are very important for any business to maintains its position in the market. The report uses academic texts and Harvard referencing to support its arguments.

GRADUATE CHALLENGE

TABLE OF CONTENT
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Roles............................................................................................................................................3
Importance...................................................................................................................................3
CONCLUSION ...............................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Business Functions are activities done by the business itself which are divided into
different types. This project will explain the roles and importance of marketing, operations,
finance and human resource.
MAIN BODY
Roles
Marketing :
The role of marketing for an organization are related to product, place, price and
promotion. The role of marketing begins with the introduction of product, marketing should be
done considering a place and with choosing the suitable price. Main role of marketing is
promotion the business (Varsha, 2021).
Finance :
The role of finance for a company is the management of the money. Financial
management decides the amount of money which is required for the business. With the help of
finance a company decides what is the best use of the product. Role of finance is very important
for deciding the source of the company capital.
Operations :
Operations role for business is the process of creating the products or services of the
company. Operations are carried out with the help of coordination of all the resources available
to the business. Role of operations to make sure the company is not stopping its production.
Human Resource :
Human Resource plays the roles of recruiting candidates for the organization needs and
making sure those needs are meeting their recruitment positions. Human resource are responsible
for the payroll, rules and regulations and other company policies in the organization.
Importance
Marketing :
Marketing is important for a company because it helps it to sell the products and services.
For making money marketing has been considered the most important factor. Marketing is
important the existence of a business. Marketing is practised by numerous organization like
Apple for their iPhones and Sony for its Televisions (Gunawan and Siemon, 2020).

Finance :
Finance enables the business for managing funds, cash flow, transaction and it also
monitors the needs of the company's necessities. Finance helps the company for making the
decision related to their spendings. For Tesco finance has been very important in order to
compete with its competitors (Redondo and Crockett, 2017).
Operations :
Operation helps the business to effectively manage its goods, services and its people.
Operations importance is felt by every organization while serving the purpose of production. For
example for the growth of a small business operation must be very strong in order to survive in
the market.
Human Resource :
Human Resources plays is very important for maintaining performance in a business
because it is responsible for recruitment of employees, training of employees, enforcement of
rules and regulations in the employees and also re-enforcing values in the business.
Organizational culture is maintained by the Human Resources. In hotel industry Human
Resources are responsible for recruitment of employees which are the main reason for success of
the company.
CONCLUSION
With the help of this report it can be concluded that marketing, finance, operations and
human resource play very important role for the success of a business, and they are very
important for any business to maintains its position in the market.

REFERENCES
Books and Journals
Gunawan, M. and Siemon, V.E., 2020. The Impact of Brand Authenticity, Brand Experience,
and Self-Congruity Toward Brand Loyalty as Mediated by Brand Love: A Case of
Apple Inc. iBuss Management. 8(2).
Redondo, R.P.D. and Crockett, K., 2017, August. Experiment for analysing the impact of
financial events on Twitter. In Algorithms and Architectures for Parallel Processing:
17th International Conference, ICA3PP 2017, Helsinki, Finland, August 21-23. 2017.
Proceedings (Vol. 10393, p. 407). Springer.
Online
Varsha, C., 2021. Importance of marketing.[Online]. Available through:
<https://www.businessmanagementideas.com/marketing/importance-of-marketing/
importance-of-marketing/19442>