Question

identify at least two or three ideas, theories, tools or techniques about business that you found interesting, thought provoking, useful or perhaps inspiring. Think critically about the idea, theory, tool or technique and respond to the following.

Please share something about what you learned in business and the way(s) the learning changed you. Maybe you learned something about yourself or the way you think about others or work. Perhaps the learning persuades you to do something differently. Maybe the learning gives you a different way of knowing or understanding the world around you. Take ownership of your learning and have fun with this assignment.

Answer 1

In businesses most important thing learnt is that success of business depends upon teamwork and collaboration between departments defined by Tuckman model of team development.

Any successful business is run by teamwork as corporate management is like playing football where all players cojointly strive forward for common goal.

Starting with HR which forms crux of employment and widening and talent acquisition, employee engagement, talent spotting, reserving and growing talent, promoting talent, corporate governance, ethical management and industrial labor relations has the potential to build strongest base for organisations.

Financial team comprises of risk management and investment banking, accounting, payments, and legal and audit requirements.

Marketing teams handle sales, marketing, public relations, digital marketing, analytics, strategy development.

Operations team make up for supply chain management, logistics, purchase, procurement, maintenance, supervision and engineering.

IT forms technical and analytical support and cyber security rusk support.

Thus we see all teams are intee related and it is cross functionality that drives success. Eliminate any one function and whole organisation gets paralysed. If HR doesn't work the administration collapses. If Finance doesn't work out no marketing expenditure can be taken ahead. If Operations doesnt work there is no production nor sales.
If IT doesnt work there is no marketing and no payment mechanism.

Hence all functions are extremely important and independent. However in overall opinion Hr forms the base because HR function recruits people who are biggest stakeholders and any degradation or malfunctioning in HR can destabilise any organisation.

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