Functional Areas of Business: Key Functions and Skills

Functional
Areas

Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Introduction of company:............................................................................................................1
Definition of Functional areas:....................................................................................................1
Key functional areas:...................................................................................................................1
Description of different types of skills required by employees in different key functional areas:
.....................................................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Functional areas of business can be described as a different function within an organization
that are controlled or performed by different parts of a firm. Reason for separating operations of
business into various functional areas is to gain expertise in business operations (Ferreira,
Pimenta and Wlazlak, 2019). This report is based on analysis of key functional areas of IOM
Electronics Ltd. It covers definition of functional areas and description of various key functional
areas. Marketing, human resource management, customer services, finance, research and
development as well as sales are key functional areas which are discussed in this report. Further,
skills required for each functional area are evaluated.
MAIN BODY
Introduction of company:
IOM Electronics Ltd. is a regional organization which is in two sites that are, Manchester
as well as Liverpool. Total number of people that are employed in an organization is 200.
Definition of Functional areas:
Several tasks and functions that are incorporated in an organization can be defined as
functional areas of a business (Maylor, Blackmon and Huemann, 2016). The main purpose
associated with functional areas is ensuring that all essential activities of business are carried out
effectively and efficiently. It serves a critical role achieving objectives or targets of IOM
Electronics Ltd.
Key functional areas:
Research and development, marketing, sales, human resource management, finance and
customer services are some key functional areas of a company. These key functional areas are
further described below in a detailed manner:
Marketing: It indicates activities which are performed in an organization for identifying
requirements of customers and designing products or services for meeting such requirements
(Komoltsev and et.al., 2020). Apart from it, marketing functional area of business involves
promotion of products or services which are offered by IOM Electronics Ltd. It incorporates
determination of approaches that are applied for delivering products or services, and
development of a pricing strategy for capturing market share in order to sustain in this highly
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