IOM Electronics Limited: Key Functional Areas and Skills Report

This report delves into the key functional areas of a business, using IOM Electronics Limited as a case study. It examines various departments, including marketing, human resources, customer service, finance, research and development, and sales, highlighting their roles and interdependencies. The report emphasizes the importance of employee skills within each functional area, such as marketing analysis, communication, and financial forecasting. It explores how these skills contribute to the overall productivity and success of the organization, concluding that effective planning, employee training, and skill development are crucial for achieving business goals and maintaining a strong company-consumer relationship. The report also references several academic sources to support its findings.

Functional Areas

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
Business Functional areas:..........................................................................................................3
key functional areas in context of business:................................................................................3
Skills that is needed by employee:..............................................................................................5
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business is mainly can define as organised efforts to develop and sell goods for
m,maximum earnings. This combines of entity that deliberately engage in performing activities
to generate more profit. Business involves producing commodities to the potential consumer
which leads towards maximum earning and profits. The business process can be executed in
different forms such as sole proprietorship, corporation as well as partnership. If individual or
organisation check the feasibility of the business concept this will lads to successful
implementation of business plan. For efficient business activities management and employees
have to perform lots of key function areas. The enterprise which is selected in this report is IOM
Electronics limited. The report aim towards examine of key functional areas of entity. This report
combines various types of skills that is essential to be performed by the employees. This will
brings efficiency and productivity in organisation.
TASK
Business Functional areas:
 Business: Business is one type of trade and occupation which is executed or perform by
the company to generate more revenue and profit (Bartels and Jackson, 2021). It delivers
more income in economy by purchasing and selling of commodities to satisfy mass
audience.
 Business functional areas: lots of function is performed and executed by different
organs in human body. Similarly in context of business different elements are performed
by the help of key functional areas of business. These key functional areas deliberately
diversified business process in different functional areas to enhance operations of
company.
key functional areas in context of business:
The business key functional areas is diversifies on the basis of same characteristics of
employee in respect of nature and expertise. For example the department of finance examine
appropriate source of finance and deliver fund to several department according to the
requirement of business process (Black, 2019). It is most important for enterprise to organise
employee with similar characteristic because it collectivity synchronised the operations of each
employee in gaining organisational goal. Basically functional areas aim towards putting together

same set of employees. It will lead towards improving efficiency and effectiveness of business
process. Business combines various functions such as marketing, finance, management, sale,
operations, costumer services, human resources, technology equipments, research and
development, strategy etc. Every particular function perform activities in different manner and
support each other (Dixitand Narendran, 2019). Business functional areas collectively put
together operations of each employee so that particular team or individual can execute its task in
efficient manner. Particular employee has their own set of duty and responsibility to
accomplished organisation goal. Every function aids in business process and achieve success of
organisation. All the functions are performed differently like human resource hire best talented
workforce for company. Sales and marketing create unique selling proposition in the perception
of consumer. Finance help in reducing cost and identify best source of investment. The
department of production enhance quality of commodity and insure sufficient stock of enterprise
to deliver product and services as per target audience.
Several functional areas:
 Marketing: Marketing is a process of modifying goods or services to satisfy mass
audience as per their requirement. The IOM Electronics limited must develop marketing
plan for promotions and advertisement (Essa and Wadi, 2019). It helps in garbing
attention of new target audience and enhance consumer base. While execution of any
plan of marketing company have to analysis internal as well as external factors. It aids in
appropriate direction for strategy formulation of company.
 Human Resource Management: This is important function areas of business as human
resource directly engage with the workforce management. Employees refers as
productive source of enterprise. Human resource appoint best talented workforce by
matching skills and knowledge. The responsibility of human resource is to hire
appropriate employee that brings overall productive with efficient members.
 Customer Service: The function of customer services is to manage all the complaints and
confusion in respect of goods or services. They must pay attention to all the query of
consumer in gentle manner. It enhance consumer base by solving enquires of target
audience. It aids in establishing brand image of company in effective manner.
 Finance: Finance function established budgetary plan according to business process and
deliver finance to the particular department. It maintain appropriate records of financial

transaction as well as invoice. It also ensure payroll management of workforce. It
examine financial statement and deliver direction to the business operations. It identify
best source of financial investment to create more income.
 Research and Development: The research and development analysis the scope of
improvement fore the company development. It identify company inadequacy and
improvement chance. By researching company can introduce new commodity as well as
same commodity in exclusive market. It clearly define feasibility chance of launching
new commodity (Hendarman and Cantner, 2018). Through this they can enhance
competitive gain of company. This function helps in evaluating internal and external
factors of company that affect the operations of enterprise.
 Sales: Sales function directly deal sale of commodity to the end consumer. What is the
means of developing commodity if it not consumed or purchased by target audience.
Sales employee have to ensure established target recognised by the enterprise. The duty
and responsibility of sales workforce is clearly define. Sales person must engage in very
positive and gentle manner with the consumer while delivering services. It aids in
creating positive feedback of consumer towards company image.
Skills that is needed by employee:
The various skill set is required by workforce or employee of IOM Electronics limited to
perform business operations and functional areas. It improves the level of productivity in the
business process. This contributes in accomplishment of enterprise goal.
 Skills of marketing employee- Marketing employee must ensure suitable knowledge of
demand in respect of particular segment. They examine capacity of sales workforce and
encourage them to generate more income (Le Meunier-Fitzhugh, and Massey, 2019).
They must ensure analytical skills and utilise appropriate software to evaluate
organisation performance. This facilitate in marketing decision making. Knowledge of
Inbound marketing grab mass target audience. They must facilitate trend analysis of
market and interpret excel sheet. Marketing employee use digital method of promoting
goods or services. This will help company in increasing consumer base.
 Skills of human resource employee- Human resource must ensure relationship with
workforce and management by utilising effective communication skills. It is their
responsibility to hire qualified workforce and handle all administration task. They have to

ensure proper training and development of workforce. For establishing record they must
have knowledge about system of human resource information. Effective communication
of HR solve many conflict in the enterprise to accomplished entity goal.
 Skills of costumer services employee- They must have effective and influencing skills
so that they can convince mass audience. This will result in generating more saloe of
enterprise (Patwardhan, 2020). Empathy skills aids in improving consumer satisfaction
level. The skills of adaptability help costumer service employee in understanding
different types of costumer. They must resolve all enquires in most polite way to
established positive feedback in consumer mind.
 Skills of finance employee- The essential skills of finance employee is Budgeting. They
have to prepare budgeting as per business process of particular department and deliver
financial fund as per requirement. They must ensure negotiable skill while purchasing
commodity and managing investment source. It must forecasting statement of finance and
profit loss. They identify best source of investing financial source.
 Skills of research and development employee- The research and development
employee facilitate appropriate guidance for completion of project. It must combines in
researching opportunity to launch exclusive featured commodity in new and existing
market. It must deliver innovative solution to the business complexities. They require
communicating skills to deliver facts at each level and department of entity. By
researching they can develop future potential of company and accomplish competitive
gain. This will brings new opportunity to company in expanding business market.
 Skills of sales employee- Active listening in mainly important in the sales employee. It
will aids in understanding preferences of target audience. They must have effective
communication skills so they can deliver all facts about commodity to the mass audience.
Public speaking and confidence skills help the employee influencing potential audience.
They directly deal with end consumer of company so they must have appropriate skill to
attract consumer (Prathipa and Sundharavadivel, 2018). They must ensure adaptativeness
so that they can interpret different nature of consumer.

CONCLUSION
From the above report it has been concluded that planning delivers appropriate guidance
for successfully implementation of business plan. Business plan must be clearly pre determined
by the company. It aids in accomplishment of business process and entity goal. Business plan
must ensure feasibility check for proper execution. Employee and the workforce management
have to execute functional areas. Internal and external factors examine suitable execution of
functional areas. Every employee have their own set of skills that helps company in business
process. These skill deliver positive feedback in minds of target audience. This established
strong image and relationship between company and consumer. Company have to ensure up
gradation in skills of employee by appropriate training programs. Effective skills of employee
enhance productivity in business process and operations.

REFERENCES
Books and Journals
Bartels, B.E. and Jackson, C.E., 2021. Meaning-centered Leadership: Skills and Strategies for
Increased Employee Well-being and Organizational Success. Rowman & Littlefield
Publishers.
Black, K., 2019. Business statistics: for contemporary decision making. John Wiley & Sons.
Dixit, S. and Narendran, R., 2019. Impact of organisational values elements and employee
engagement outcomes on business performance indicators. Asian Journal of
Management. 10(3). pp.190-202.
Essa, M. and Wadi, R.A., 2019, September. The Role of Employee Relations Management in
Improving Employee Performance. In ECKM 2019 20th European Conference on
Knowledge Management 2 VOLS (p. 321). Academic Conferences and publishing
limited.
Hendarman, A.F. and Cantner, U., 2018. Soft skills, hard skills, and individual
innovativeness. Eurasian Business Review. 8(2). pp.139-169.
Le Meunier-Fitzhugh, K. and Massey, G.R., 2019. Improving relationships between sales and
marketing: the relative effectiveness of cross-functional coordination
mechanisms. Journal of Marketing Management, 35(13-14). pp.1267-1290.
Patwardhan, S., 2020. Employee Volunteering Programs: An Emerging Dimension of Modern
Workplaces. Mandated Corporate Social Responsibility. pp.215-243.
Prathipa, L. and Sundharavadivel, G., 2018. A study on the effectiveness of employee
engagement. International Journal of Research in Social Sciences. 8(7). pp.632-638.