Assignment 10.

Business Functions Connections

The proper functioning of any company includes the proper planning and use of its

financial functions, which are managed based on the needs of the rest of the areas,

attending to objectives and goals to be met. When detailed information about the

financial functions is available, it is possible to take pertinent actions and decisions that

favor the growth of the company.

In this sense, human resources are interrelated with financial resources through

different actions such as the creation of new jobs based on the company's objectives,

the budget for staff training and the management of other circumstances that may have

repercussions. in the risk of increased costs, which translate into an expense for the

company.

On the other hand, the administration is linked by managing the inflows and

outflows of money, the administration controls the resources while the financial

functions ensure that these resources are available for the activities of the company for

decision making. short and long term and daily activities.

In addition, the financial area is responsible for the financial record of the

company's operations, therefore, all resources, from materials, technical, industrial and

transportation tools are part of the monitoring of the organization in the operation,

payment and collection of money, in such a way that a large part of the financial

resources are allocated to this area with the expectation of obtaining profit margins and

sales costs that allow the continuity of the company.

 Regarding marketing, everything related to financial functions allows defining

how feasible it is to invest, how much and what will generate greater productivity,

therefore, marketing provides relevant information prior to the launch of a product or

service or communicate whether or not the budget contemplated is sufficient to make

the company reach its objectives of dissemination and positioning of the brand. In this

way, companies manage to stay in the markets in the long term with a satisfactory profit

margin based on the reliability of said information.

To conclude, the financial functions and their adequate management have as a

consequence the reliability of clients, partners, future investors, and financial institutions

since they are the reflection of the correct functionality of the company. Therefore, its

interrelation with all the areas that make up the company is of utmost importance for the

growth and achievement of objectives.

 References

Ferrell, O. C., Hirt, G., & Ferrell, L. (2019). Business Foundations: A Changing World
(12.a ed.). McGraw-Hill Education.