Functional Areas of Business: Description and Skills Needed

BSc (Hons) Business Management with Foundation
BMP3004
World of Work
Functional Areas
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Contents
1.0 Introduction..........................................................................................................................2
2.0 What is a business?..............................................................................................................2
3.0 What is Functional areas of business – Definition...............................................................2
4.0 What are the key functional areas of a business?.................................................................2
5.0 Description of the various functional areas in business organizations................................3
5.1 Marketing.........................................................................................................................3
5.2 Human Resource Management........................................................................................3
5.3 Customer Service.............................................................................................................4
5.4 Finance.............................................................................................................................4
5.5 Research and Development..............................................................................................4
5.6 Sales.................................................................................................................................4
6.0 Description of the types of skills needed by employees to be able to work effectively in
these functional areas.................................................................................................................4
6.1 Skills needed by marketing employees............................................................................5
6.2 Skills needed by Human Resource Management employees...........................................5
6.3 Skills needed by Customer Service employees................................................................5
6.4 Skills needed by Finance employees................................................................................5
6.5 Skills needed by Research and Development employees................................................6
6.6 Skills needed by Sales employees....................................................................................6
7.0 Conclusion............................................................................................................................6
References..................................................................................................................................7
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1.0 Introduction
Management of operations refers to the practice of managing an organization's
operating activities in order to achieve efficiency. It aims at giving its clients with an efficient
distribution of products and services, so that customers have a reputation for brand firms.
Morningstar care has been taken into account in this study. It is small size corporation dealing
with personal care goods. The company maintains its office in UK region. This research
discusses the varied responsibilities and duties of both the manager and the manager in a
company's many aspects. In addition to this report, the objective is to emphasise the necessity
of managing business plans successfully as well as to strengthen an organisation's growth
prospects. Several functional areas of respective business organisation is also being
highlighted with skills needed for an employee for effectively working through these
functional areas in an organisation (Leiras, and et.al., 2019).
2.0 What is a business?
A business is described as a commercial, industrial or professional organisation or
corporate entity. Companies can be lucrative enterprises or non-profit organisations who
carry out a charity purpose or a social cause (Lu, 2018).
3.0 What is Functional areas of business – Definition
In principle, strategy, marketing, finance, human resources, technology & equipment
and operations include the six functional areas of business management. All business
planners should thus focus on examining these topics in terms of their specific firm and
knowing them completely (Lovan and et. al.., 2017).
4.0 What are the key functional areas of a business?
Individual must have a business strategy when they start a company. This plan is not
only a paper created for bankers and other investors, as many assume. It also provides a
reference to how the company is developed and managed. A plan obliges the person who
starts a firm to analyse and comprehend all the organisation and management elements,
which is an important management tool. Many new operators have entertained the ecstatic
environment of setting up their own firm to avoid such a critical preplan, as the development
of a product or offer a service is not as thrilling. However, given that roughly 80 percent of
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