Knowledge of business functions (operations, marketing, IT, HR, and finance)

Continue your paper by aligning your new knowledge of business functions (operations, marketing, IT, HR, and finance) with your chosen organization. Introduction You have completed the first few paragraphs in the paper we are building and received feedback. You will now create the following paragraphs based on the course content we covered. You will align the new knowledge of business functions (operations, marketing, IT, human resources (HR), and finance) with your chosen organization. You are encouraged to utilize the feedback you received in the prior assessment to help guide you while writing. Note: This assessment is the second part of three written assessments that build on each other and must be completed in order. You are encouraged to utilize the feedback you received in the prior assessment to help guide you while writing. Preparation Using the same organization you researched for your first assessment, complete the following: • Access the organization’s website and research the different departments of the organization, such as marketing, HR, IT, operations, and finance. • Identify two functional areas you feel are essential to the organization’s success. • Review the QuickStart: Functional Areas of Business media piece to support your understanding of these concepts. Instructions Before you begin writing, refer to the Assessment Illustration 2 and then complete the following: • Step 1: Answer the questions on the top of the template: o Using your same organization, identify two functional areas you feel are essential to the organization's success. • Step 2: Write the following two (2–4 paragraphs as needed) paragraphs using POETS: o Paragraphs 1 and 2: Evaluate the importance of two functional areas for a chosen business organization.  Describe the important critical thinking skills to drive success for each functional area.  Explain what ethical principles apply to each functional area in day-to-day work. 1: Explain the underlying principles of successful businesses. o Evaluate the importance of two functional areas for a chosen business organization. o Explain what ethical principles apply to each functional area in day-to-day work. • Competency 3: Examine business problems using critical thinking and effective decision making. o Describe the important critical thinking skills to drive success for each functional area.

Sample Solution

Continuing the Paper: Aligning Business Functions with Walmart

Building upon the understanding of the general environment's influence, it becomes crucial to examine the internal functional areas that drive Walmart's vast operations and contribute to its success. These core functions – operations, marketing, information technology (IT), human resources (HR), and finance – are intricately linked and essential for the organization to achieve its strategic objectives. By analyzing how these functions operate within Walmart, we can gain a deeper appreciation for the underlying principles that contribute to its position as a global retail leader. This section will evaluate the importance of two particularly critical functional areas for Walmart's success: operations and marketing, while also exploring the essential critical thinking skills and ethical principles that underpin their day-to-day work.

Operations are undeniably the backbone of Walmart's success. As a retailer with thousands of stores and a complex global supply chain, efficient and effective operations are paramount. This function encompasses everything from sourcing and procurement to logistics, inventory management, and store management. The sheer scale of Walmart's operations demands sophisticated critical thinking skills. Problem-solving is crucial for addressing supply chain disruptions, optimizing inventory levels to meet fluctuating demand, and streamlining in-store processes to enhance efficiency and customer flow. Analytical thinking is essential for

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everaging vast amounts of data to identify trends, forecast demand, and make informed decisions regarding resource allocation and process improvements. Systems thinking allows operations managers to understand the interconnectedness of various elements within the supply chain and store network, enabling them to anticipate the impact of changes in one area on others. Finally, decision-making under pressure and with incomplete information is a daily reality in operations, requiring the ability to weigh risks and benefits to ensure smooth and cost-effective execution. Ethically, the operations function must adhere to principles of fairness in supplier relationships, ensuring ethical sourcing and transparent dealings. Safety is paramount in warehouse management, transportation, and in-store environments, requiring adherence to safety regulations and proactive risk management. Efficiency must be balanced with environmental responsibility, driving efforts towards sustainable sourcing, waste reduction, and energy efficiency throughout the operational processes.

Marketing plays a vital role in driving customer traffic, building brand loyalty, and ultimately achieving Walmart's sales targets. In a competitive retail landscape, effective marketing strategies are essential for attracting and retaining customers across diverse demographics and geographic locations. Critical thinking skills are central to successful marketing at Walmart. Market analysis is crucial for understanding consumer behavior, identifying target markets, and monitoring competitor activities. Strategic thinking is required to develop comprehensive marketing plans that align with overall business objectives and adapt to evolving market trends. Creative thinking is essential for developing innovative and engaging advertising campaigns and promotional activities that resonate with consumers. Evaluation of marketing campaign effectiveness through data analysis and key performance indicators (KPIs) is vital for optimizing marketing spend and maximizing return on investment. Ethical principles in marketing at Walmart include honesty and transparency in advertising and product information, ensuring that consumers are not misled. Fairness in pricing and promotional offers is crucial for maintaining customer trust. Respect for privacy in data collection and utilization for personalized marketing is paramount, requiring adherence to data protection regulations and ethical data handling practices. By upholding these ethical principles, Walmart can build long-term customer relationships and maintain a positive brand image.

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