Category: Consultants & Agencies

Importance Of Business Functions

Published / by Apollo Bonilla

Functions can be define as the all the main activities that a business has to go through to be successful or to reach their goals and objectives. It has no end or beginning –because as long as the business continues the functions will be demanded to exist. You can most probably divide all the functions in to six main functions. Let us go through all of them one by one.

Production function is can be where the goods and services are created for the customers. To any company it is all about selling something to give profit. It is combination of ideas, labor, money and other facilities that empower this function. A manager of this function needs to ensure that production of goods happen at the right time and quantity is as it is demanded.

Finance department or function needs no introduction but it has three main responsibilities in a company. Help the company in investments decisions. Financial decisions of the company are made by them. Lastly, decision on dividends paid to stakeholders. Link here provide a high standard of financial service that can cover all your needs.

You will find Accounting services, bookkeeping services, taxes, financial reporting, etc. as some of the activities of the accounting department. They handle financial service of the whole company. Marketing is the next function. This department understands the customer’s needs and wants and compiles it in such a way that with that information all other departments/ functions follow to make their customer’s needs. This includes pricing, package designing, so on and so forth. This department is responsible in creating awareness about the product and promoting the products in the market for everyone to know and buy.

The human resource function deals with all the humans in the company which means it is concerned with all the employees and their performances. They are responsible in maintaining, training, motivating employees in other departments. This is done either in groups or individual training. This is done in order make sure that employees work effective in achieving the company goals and objectives.

The last two functions of are the ICT function and innovation. The ICT function is modern day department that handles all ICT related activities of the business. Today we see that all companies have online presence and most of them even have interactive mobile apps to deal with customers. When it comes to certain promotions or events sometimes you need a lot of tech stuff to help promote. Innovation is basically, coming up new creative ideas to improve the value and quality of the existing product. This is basically not only for the products but the whole company overall.