Functional Areas in Business Management - World of Work Individual Report

B Sc (Hons) Business Management with Foundation
BMP3004
World of Work Individual Report
Functional Areas
Submitted by:
Name:
ID:

Table of Contents
1.0 INTRODUCTION.....................................................................................................................3
MAIN BODY...................................................................................................................................3
2.0 What is a business?....................................................................................................................3
3.0 What are is business functional areas?.......................................................................................3
4.0 What are the key business functional areas?..............................................................................4
5.0 Elaborate various functional areas in business organisation......................................................4
5.1 Marketing:........................................................................................................................4
5.2 Human Resource Management:.......................................................................................4
5.3 Customer Service:............................................................................................................4
5.4 Finance:............................................................................................................................5
5.5 Research and Development:.............................................................................................5
5.6 Sales..................................................................................................................................5
6.0 Types of skills required by the employees in functional area ...................................................5
6.1 Skills required by Marketing Employees.........................................................................5
6.2 Skills required by Human Resource Management employees:........................................6
6.3 Skills needed by Customer Service employees:...............................................................6
6.4 Skills required by Finance employees:.............................................................................6
6.5 Skills required by Research and Development employees:.............................................6
6.6 Skills required by Sales employees:.................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

1.0 INTRODUCTION
Business operations mainly refers to activities which businesses involves in on day to day
life or daily basis to enhance the value and brand name of the enterprise which would bring
fecundity to the enterprise. The functional areas in business market management which includes
marketing strategies, human resource and assets, related technologies and equipments with
efficient functionality etc. aids in successful conduction of the business operations and are very
crucial for related activities within the organisation (Aggarwal and Wu, 2019). These
accomplishment and better understanding of the functional areas of business management
assures the business growth and development. This report is directed to determine the key
functions of business and related skills that is required to drive the organisation. In this case
study, John's analysis is being elaborated where he decided to own a local firm, IOM Electronics
Ltd., so that he runs it with solely ownership (Boon and et. al., 2019).
MAIN BODY
2.0 What is a business?
A business refers to an organisation or enterprise that is involved in the commercial,
industrial, any sort of professional activities. A business is an enterprise which engages with the
sale of products and services where masses work together to aid the enterprise's fecundity. In
regards with the given report, John decided to own a local firm IOM Electronics Ltd. The firm is
a well known territorial firm comprised of 200 employees that is based on the two sites of the
nation which is Liverpool and Manchester (Civelek and et. al., 2021).
3.0 What are is business functional areas?
In any organisation, they involve various kinds and types of functional areas that fosters
and aids in assuring the crucial business activities are held and being undertaken efficiently
within the organisation. Functional areas including operations, marketing, finance and
management can be accomplished by the organisation by working together and focussing more
on the desired goals of IOM Electronics Ltd. Every department is interconnected and is reliable
to each other so that operations should be managed in ways that an organisation is able to fulfil
the goals of the functional areas efficiently (Ejsmont, 2021).