Functional Areas of Business: Key Functional Areas, Skills of Employees

Functional Areas

Table of Contents
INTRODUCTION ..........................................................................................................................3
PART 1............................................................................................................................................3
Functional areas of business:......................................................................................................3
Key functional areas of a business:.............................................................................................3
Various functional areas:.............................................................................................................4
Types of skills of employee:.......................................................................................................5
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business is a set of activities that is done by individual or organisation to earn profit. This
include activities of developing and selling goods. As per the nature of business, it is essential to
make analysis of market sentiments to determine whether business idea is feasible or not . There
are very key functional areas in business organisation. The chosen organisation in this report is
IOM Electronics limited. This report provide the details about functional and operational area of
the company. It also analyse various skills sets which is essential for employee and management
to perform effective and efficient way.
PART 1
Functional areas of business:
 Business: Business is executed by individual or enterprise to make profits. It includes
activities of purchasing or selling of goods to seek earnings.
 Functional areas of business- In human body there are various function that is
performed by various organs. Similarly in context of business various function are
control and regulate by various elements of business (Strandhagen and et.al., 2017). The
Reason for dividing operations of business in various functional areas is to build
expertise and effectiveness of organisation.
Key functional areas of a business:
Functional area are those set of employee who have same set of skill or expertise. For
example company human resource department is one of the functional area and they mainly
focus on hiring best employee. It is important to organise key functional area so that same set of
employee synchronise and put together in particular group (Hassan and et.al., 2020). This will
increase profitability of a company. There are various functional areas of business management
that every business should execute like Management, Finance, Marketing, Costumer Service,
Human Resource, Research and development, Sale, technology equipment, Strategy, Operations
etc. Each function carries various task related to its areas.
The main aim of these function to synchronised all activities of business so that employee
and management will perform effective and efficient way. However the responsibility of all these
function aids in achieving goal of an organisation. Functional area is depend on what type of