Interdependance with other key business functions

Question 1

What is interdependence?

Answer 1

refers to the mutual dependence that the key functions have on one another. This means that the various business functions work best when they work together. Each section of the business may perform its specialised function extremely competently, but if they together do not work as a ‘team’ and aim for the same business goals, the business is not likely to achieve its objectives.

Question 2

How is operations connected to marketing?

Answer 2

Marketing looks at all aspects of buying and selling. From the analysis of what people buy, to pricing product development, product distribution markers maximise earnings through sales.

Producing goods based on market needs, marketing based on cost, product design affects the transformation process

Question 3

How is operations connected to Human resources?

Answer 3

Deals with the business employees

Staff needed for production
Technology changing operations
Outsourcing specialists

Question 4

How is finance related to operations?

Answer 4

Concerned with recording and summarising financial transactions into a series of reports

Finance is required for inputs, machinery, land etc. to create value whilst receiving a return on investments.
Operations manages stock and outsourcing whilst finance monitors the cost.