Hey,Attached below is the answer to your question. Please take the time to read it over and let me know if you have any questions or concerns. If you approve of the work, I would greatly appreciate a five-star rating or even a tip. It was a pleasure working with you and keep me in mind for any future questions you may have.Best,PubliusRunning Head: (BUSINESS MODULE)(Last Name) 1(Business Module)(Institutional Affiliation)(Your Name)(Instructor Name)(Course Number)(Due Date)(Business Module)Running Head: (BUSINESS MODULE)(Last Name) 2Question 1The Finance ProcessAt the beginning of every successful organization is the establishment of a rigorous andmeticulous finance process. Businesses need money to function, and the finance department is incharge “of making sure that funds are available and that your business can access cash insustainable ways” (Gartenstein, 2019). Generally, the process encompasses several roles andresponsibilities, from the day-to-day management of general accounting to obtaining financialcapital and investment for future activity. However, one of the most important roles is thestrategic initiative the finance process plays in meeting company goals and demands. In otherwords, when an organization establishes long-term goals, the finance department is responsiblefor “aligning daily financial decisions with longer-term company objectives” (Gartenstein,2019).Similarly, the finance process is the lifeline for the company. An organization cannotcontinue to do business if they are in a dire financial situation. Thus, it is imperative that thefinance process both seek ‘new’ money and help the company “save on expenses and enhanceprofitability” (Sheahan, 2019). Finance ties into the broad organization by providing thenecessary capital for the procurement of goods, which occurs in the next process.The Procurement ProcessThe procurement process is the coordinated planning and integrated action to “fulfill aneed for goods, services or works promptly at a reasonable cost” (Institute for Supply ChainManagement & UN Task Force and Steering Committee, 2012). Procurement is an essential stepto the project management department’s success because it is how supplies, materials, andobjectives are acquired. Similarly, an efficient procurement process will save time, money andRunning Head: (BUSINESS MODULE)(Last Name) 3mitigate potential risks. Relevant procurement processes and sub-components include identifyingand selecting the appropriate procurement strategy. This responsibility falls to the procurementofficer who manages the system from start to finish and communicates with project managers.Procurement officers should consider factors such as financial reporting releases (FFR),procurement procedures of the organizations, a delegation of authority, type of procurement(goods, services, works), and the complexity of the specific project requirements (Institute forSupply Chain Management & UN Task Force and Steering Committee, 2012).The Fulfillment ProcessThe fulfillment process is the structure that processes the “receiving and processing ofgoods for distribution…
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