Importance of different functions of business
To operate a company in the higher competitive business world, this is required to manage and maintain all the different business functions that include marketing, human resources, finance, and production. The major reason for the company to become successful and managing their customers’ expectations and needs so they require to maintain entire departments correctly (Akhmetshin, et. al., 2017).
Marketing plays a vital role in the Sainsbury Company and also promotes the business vision and mission in the market area. Besides this, they are accountable for promoting different types of goods and services among customers and this will assist in enhancing the goodwill of the company. This branch helps in recognizing target customers who are willing to buy their firm products with the best quality. Finance is another major part of the company which is responsible for managing funds and the budget of Sainsbury and also maintain internal and external functions of budgeting (BBC, 2019).
The production department’s main role is to manufacture unique products which are demanding by buyers. In Sainsbury, the production division is accountable for producing different forms of goods which are current trends in a marketplace. They are work transforming raw materials into finished goods. In addition to this, they are also performing tasks for effectively improving the team members’ skills and capabilities. They are concentrating on examining such output targets which are set up by the firm and formulate quality-based products (computerweekly.com, 2017). Human Resource is that department which is responsible for managing and handling a wide range of business functions in a company. They are appointing these staff members who are performing work in a specific position. This is the major role of human resources is to convince employees in every activity in which they are interacting with other candidates who are new and engaged with them. It will increase coordination and collaboration among staff members to achieve desired goals.
Link of these functions working together well
The main requirements of Sainsbury to smoothly operate and regulate their business operations with the assistance of these departments and they will help in completing their tasks (glasgowtimes, 2020). It is necessary for enhancing the firm’s goodwill and growth. Effective strategy implementation is required. Without accurate strategy execution, an organization does not get any progress and success in the entire market area. Sainsbury is the leading company which requires running a business with a loyalty scheme which attracts buyers (Marketingweek, 2018). If all the division of Sainsbury does not collaborate and cooperate so they cannot smoothly regulating their tactics and new scheme properly. This is complex for them is to effectively implementing strategies that directly influence their growth or development level without the collaboration of all divisions.
Accomplishing competitive advantages is necessary for Sainsbury Company. In past years, the business world is highly competitive that shows an organization requires managing and maintaining competition at a higher level to achieve a top position (Vasilev, 2017). Sainsbury has been smoothly operating their business functions for a long time and they can easily gain the attention of a large number of customers towards products or services.
· Akhmetshin, E., Danchikov, E., Polyanskaya, T., Plaskova, N., Prodanova, N. and Zhiltsov, S., 2017. Analysis of innovation activity of enterprises in modern business environment. Journal of Advanced Research in Law and Economics, 8(8 (30)), pp.2311-2323.
· BBC, 2019. Sainsbury’s sales slide despite deep discounts. [Online]. BBC. Available at: https://www.bbc.com/news/business-48851270 [Accessed: 18th November 2020]
· computerweekly.com, 2017. Sainsbury’s Group sales grow as Argos boosts performance. [Online]. computerweekly.com. Available at: https://www.computerweekly.com/news/450422184/Sainsburys-Group-sales-grow-as-Argos-boosts-performance [Accessed: 18th November 2020]
· glasgowtimes, 2020. Sainsbury’s named the cheapest supermarket in the UK. [Online]. glasgowtimes. Available at: https://www.glasgowtimes.co.uk/news/18170384.sainsburys-named-cheapest-supermarket-uk/ [Accessed: 18th November 2020]
· Marketingweek, 2018. How Sainsbury’s used location to make its marketing ‘ultra personalised’. Marketingweek. [Online]. Marketingweek. Available at: https://www.marketingweek.com/sainsburys-marketing-ultra-personlised/ [Accessed: 18th November 2020]
· Vasilev, V.L., Bakhvalov, S.I., Prikhod’ko, A.N. and Kazakov, A.V., 2017. Internal control in the system of innovation management in the modern business environment. International Journal of Economic Research, 14(15), p.409.