Functional Areas of Business: Key Areas and Required Skills
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This report discusses the definition of functional areas of business and the six key functional areas, including marketing, human resource management, customer service, finance, research and development, and sales. It also describes the skills needed by employees to work effectively in each functional area. The report is relevant for students studying BSc (Hons) Business Management with Foundation or any related course.
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BSc (Hons) Business Management with
Foundation
World of Work
Functional Areas
Submitted by:
Name:
ID:
Contents
1
Foundation
World of Work
Functional Areas
Submitted by:
Name:
ID:
Contents
1
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1.0 Introduction p
2.0 What is a business? p
3.0 What is Functional areas of business ā Definition
p
4.0 What are the key functional areas of a business?
P
5.0 Description of the various functional areas in business
organizations p-p
5.1 Marketing p
5.2 Human Resource Management p
5.3 Customer Service p
5.4 Finance p
5.5 Research and Development p
5.6 Sales p
6.0 Description of the types of skills needed by employees
to be able to work effectively in these functional areas
p-p
6.1 Skills needed by Marketing employees p
6.2 Skills needed by Human Resource Management employees
p
6.3 Skills needed by Customer Service employees
p
6.4 Skills needed by Finance employees p
6.5 Skills needed by Research and Development employees
p
6.6 Skills needed by Sales employees p
2
2.0 What is a business? p
3.0 What is Functional areas of business ā Definition
p
4.0 What are the key functional areas of a business?
P
5.0 Description of the various functional areas in business
organizations p-p
5.1 Marketing p
5.2 Human Resource Management p
5.3 Customer Service p
5.4 Finance p
5.5 Research and Development p
5.6 Sales p
6.0 Description of the types of skills needed by employees
to be able to work effectively in these functional areas
p-p
6.1 Skills needed by Marketing employees p
6.2 Skills needed by Human Resource Management employees
p
6.3 Skills needed by Customer Service employees
p
6.4 Skills needed by Finance employees p
6.5 Skills needed by Research and Development employees
p
6.6 Skills needed by Sales employees p
2
7.0 Conclusion p
References p
3
References p
3
1.0 Introduction
Functional area refers to the process which refers to the area of department that
carries the specific function of the organization for efficient functioning of the
business. Its helps the organization in achieving new target and enhancing the
revenue generation of the company. Also, helps the company in analyzing and
interpreting the target market and frame strategies and procedures according to the
need of the consumers in the target market. With proper functional areas of
business, it helps the company in enhancing its market value by higher profit
margins.
2.0 What is a business?
Business is the entity or organization that is engaged in the industrial, professional
and commercial activities (Nawaz and KoƧ, 2019). Businesses can be for profit and for
non profit entities which operates to fulfillment of social cause and charitable
missions. It ranges from international corporations to sole proprietorship. In other
words, it can be said business refers to the trade, occupation or profession or
commercial activity that involves exchange of products and services for profits.
According to the concept of traditional businesses, it only exists when it earns profits
from the services provides to the consumers.
3.0 What is Functional areas of business - Definition
Functional areas of business refers to the grouping of individuals and people in
organization that have same expertise and skills (Nalawade and Bhola, 2019). For
example; the sales department of the organization is the common functional are
in the company, where the employees in the department focuses on selling the
products and services of the organization. In other words, functional area of business
is an area of department or an individual employee who carries out the business
function of the organization such as finance, marketing sales etc. functional area
varies according to the type of organization and the business being carried out.
4.0 What are the key functional areas of a business?
4
Functional area refers to the process which refers to the area of department that
carries the specific function of the organization for efficient functioning of the
business. Its helps the organization in achieving new target and enhancing the
revenue generation of the company. Also, helps the company in analyzing and
interpreting the target market and frame strategies and procedures according to the
need of the consumers in the target market. With proper functional areas of
business, it helps the company in enhancing its market value by higher profit
margins.
2.0 What is a business?
Business is the entity or organization that is engaged in the industrial, professional
and commercial activities (Nawaz and KoƧ, 2019). Businesses can be for profit and for
non profit entities which operates to fulfillment of social cause and charitable
missions. It ranges from international corporations to sole proprietorship. In other
words, it can be said business refers to the trade, occupation or profession or
commercial activity that involves exchange of products and services for profits.
According to the concept of traditional businesses, it only exists when it earns profits
from the services provides to the consumers.
3.0 What is Functional areas of business - Definition
Functional areas of business refers to the grouping of individuals and people in
organization that have same expertise and skills (Nalawade and Bhola, 2019). For
example; the sales department of the organization is the common functional are
in the company, where the employees in the department focuses on selling the
products and services of the organization. In other words, functional area of business
is an area of department or an individual employee who carries out the business
function of the organization such as finance, marketing sales etc. functional area
varies according to the type of organization and the business being carried out.
4.0 What are the key functional areas of a business?
4
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The six key functional areas are present in the business. These different functional
areas helps business in ensuring that all the activities and operations of the business
are being carried out efficiently and effectively by the organization for profit
maximization. The important functional areas includes research and development,
marketing, sales, finance research, human resource management and development
customer services. These functional; areas help in segregating the activities of the
business so that all the activities of the business are being performed by experts and
with proper utilization of resources.
5.0 Description of the various functional areas in business
organizations
5.1 Marketing:
It refers to the marketing activities of the organization which it undertakes for
promoting the selling as well as buying of goods and services(Tseane-Gumbi, 2018). It
includes activities like selling, advertising and delivery of goods to consumers. In
other words it's the collection of activities that are related with the delivery, creation
and exchanging offerings which have value. In business, the function area of
marketing is to add value to the customers, to whom the company seeks to satisfy,
retain and identify. It helps in shaping the transaction term and the experiences of
the clients.
5.2 Human Resource Management:
It refers to the function of an organization on rescruitmernt, directing and managing
individuals who work in the organization (Luo and et.al., 2021). HR management deals
with the issues of the organization that are associated to the employee motivation,
performance management, organization development, Safety, benefits, wellness,
training and compensation etc. human resource management plays a strategic role
in managing the people in the workplace environment and culture. Effective HR
management helps in contributing significantly in accomplishing and directing its
employee's towards the objectives of an organization.
5.3 Customer Service:
It is the interaction between the organization that sell the products and services and
the buyer of that commodity and services. In other words it refers to the advice and
5
areas helps business in ensuring that all the activities and operations of the business
are being carried out efficiently and effectively by the organization for profit
maximization. The important functional areas includes research and development,
marketing, sales, finance research, human resource management and development
customer services. These functional; areas help in segregating the activities of the
business so that all the activities of the business are being performed by experts and
with proper utilization of resources.
5.0 Description of the various functional areas in business
organizations
5.1 Marketing:
It refers to the marketing activities of the organization which it undertakes for
promoting the selling as well as buying of goods and services(Tseane-Gumbi, 2018). It
includes activities like selling, advertising and delivery of goods to consumers. In
other words it's the collection of activities that are related with the delivery, creation
and exchanging offerings which have value. In business, the function area of
marketing is to add value to the customers, to whom the company seeks to satisfy,
retain and identify. It helps in shaping the transaction term and the experiences of
the clients.
5.2 Human Resource Management:
It refers to the function of an organization on rescruitmernt, directing and managing
individuals who work in the organization (Luo and et.al., 2021). HR management deals
with the issues of the organization that are associated to the employee motivation,
performance management, organization development, Safety, benefits, wellness,
training and compensation etc. human resource management plays a strategic role
in managing the people in the workplace environment and culture. Effective HR
management helps in contributing significantly in accomplishing and directing its
employee's towards the objectives of an organization.
5.3 Customer Service:
It is the interaction between the organization that sell the products and services and
the buyer of that commodity and services. In other words it refers to the advice and
5
assistance which is provided by the business to the people who uses and buy their
services and products. Customer services are considered the heart of business. It
aims at providing exceptional services which leaves the consumers feeling respected
and valued.
5.4 Finance:
Finance function of business involves the utilization and acquisition of funds that are
necessary for the smooth functioning of the business. It is concerned with the
planning and controlling of financial resources (Wen-xin, 2020). It is considered the
lifeblood of business without which a business cannot function efficiently. In other
words it is the source to run any business operation of an organization by providing
efficient funds. Finance function of business helps the organization in many ways
that is it helps the company in modernizing, expansion and diversity and helps the
business in acquiring new assets and equipment.
5.5 Research and Development:
It is the researching of the target market and analyzing th customers' needs and
development of the services and products according to the needs and requirements
of the customers (Shi, 2019). Research and development is a very important function
of the business as it provides the company with a powerful insight and knowledge of
the customer needs and preferences in the Target market and according
development of the products and services of the organization. With the development
of new products according to the demand of customers it helps business in thriving
and surviving in the competitive market.
5.6 Sales:
Sales function of the organization is the only function in the business that helps the
business in generating income and revenue for the company. Therefore, it needs to
be properly managed. Sales functions includes various factors that is development of
sales strategies and formulation of plans, accurate forecasting of sales and
monitoring the target market and competitive activities in the prevailing market. It
hekps in filling the gaps in the bridge between the services and products sold by the
organization and needs of customers.
6
services and products. Customer services are considered the heart of business. It
aims at providing exceptional services which leaves the consumers feeling respected
and valued.
5.4 Finance:
Finance function of business involves the utilization and acquisition of funds that are
necessary for the smooth functioning of the business. It is concerned with the
planning and controlling of financial resources (Wen-xin, 2020). It is considered the
lifeblood of business without which a business cannot function efficiently. In other
words it is the source to run any business operation of an organization by providing
efficient funds. Finance function of business helps the organization in many ways
that is it helps the company in modernizing, expansion and diversity and helps the
business in acquiring new assets and equipment.
5.5 Research and Development:
It is the researching of the target market and analyzing th customers' needs and
development of the services and products according to the needs and requirements
of the customers (Shi, 2019). Research and development is a very important function
of the business as it provides the company with a powerful insight and knowledge of
the customer needs and preferences in the Target market and according
development of the products and services of the organization. With the development
of new products according to the demand of customers it helps business in thriving
and surviving in the competitive market.
5.6 Sales:
Sales function of the organization is the only function in the business that helps the
business in generating income and revenue for the company. Therefore, it needs to
be properly managed. Sales functions includes various factors that is development of
sales strategies and formulation of plans, accurate forecasting of sales and
monitoring the target market and competitive activities in the prevailing market. It
hekps in filling the gaps in the bridge between the services and products sold by the
organization and needs of customers.
6
6.0 Description of the types of skills needed by employees
to be able to work effectively in these functional areas
6.1 Skills needed by Marketing employees:
There are various skills that marketing employees of the organization needs, that is
employees should have effective communication skills so that there is proper
communication between the colleagues and the customers as well (Qian and et.al.,
2020). Also, they need to posses creativity skills and problem solving so that there
can generation of creativity ideas that help in solving problems and take quick
decision making. Also, marketing employees need to posses some data analytical
skill that helps in interpretation of the target market so that appropriate marketing
strategies can be built.
6.2 Skills needed by Human Resource Management employees
The various skills human resource management employees need to have are as
follows:
Communication: The employees in HR management must have effective
communication skills as they require to perform various duties that need excellent
communication. For example: salary negotiation.
Organization: If the HR employee do not possess organizational skills managing
needs of business can be extremely difficult as they need to organize information
online as well as offline.
Flexibility: HR employees needs to be flexible as jobs vary daily and expected
issues might arise anytime.
Patience: HR workers needs to possess the qualities of patience as they have to
handle daily issues and complainants.
6.3 Skills needed by Customer Service employees
The various skills needed by the employee in customer service department
are as follows:
Persuasive speaking skills: As the customer service employees have to handle the
customers and their issues on daily basis they need to be persuasive to make the
employees to agree to them (Zhanlong and et.al., 2020).
Empathy and adaptability: Employees must be able to emphasise with the
7
to be able to work effectively in these functional areas
6.1 Skills needed by Marketing employees:
There are various skills that marketing employees of the organization needs, that is
employees should have effective communication skills so that there is proper
communication between the colleagues and the customers as well (Qian and et.al.,
2020). Also, they need to posses creativity skills and problem solving so that there
can generation of creativity ideas that help in solving problems and take quick
decision making. Also, marketing employees need to posses some data analytical
skill that helps in interpretation of the target market so that appropriate marketing
strategies can be built.
6.2 Skills needed by Human Resource Management employees
The various skills human resource management employees need to have are as
follows:
Communication: The employees in HR management must have effective
communication skills as they require to perform various duties that need excellent
communication. For example: salary negotiation.
Organization: If the HR employee do not possess organizational skills managing
needs of business can be extremely difficult as they need to organize information
online as well as offline.
Flexibility: HR employees needs to be flexible as jobs vary daily and expected
issues might arise anytime.
Patience: HR workers needs to possess the qualities of patience as they have to
handle daily issues and complainants.
6.3 Skills needed by Customer Service employees
The various skills needed by the employee in customer service department
are as follows:
Persuasive speaking skills: As the customer service employees have to handle the
customers and their issues on daily basis they need to be persuasive to make the
employees to agree to them (Zhanlong and et.al., 2020).
Empathy and adaptability: Employees must be able to emphasise with the
7
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customers so that customer feel that they are being provided good skills. The
employees must be able to adapt to the distinct perspectives and customers.
Ability to use positive language: The employees must know how to use the
positive language to influence the customers.
6.4 Skills needed by Finance employees
The skills needed by finance employees includes following:
Interpersonal skills: The finance employee must have interpersonal skills which
can help them to maintain the successful relationships with the customers as well as
with co-workers.
Problem solving skills: Employees must have problem solving skills as they need
to take actions for finding solutions.
Analytical skills: The employees must have skills which enable them to think
rationally, analysing the situations and creating suitable conclusions.
Technology savy: The finance employees must know how to use the technology for
perform their lengthy and complicated processes easy and quick with the
technology.
6.5 Skills needed by Research and Development employees
Various skills which the research and development employees needs are as
following:
Effective reasoning and Thinking skills: A research and development employee
must have effective thinking and reasoning skills in order to analyse the feasibility of
the researches and development being carried.
initiative skills: A research and development employee must have the skills to take
initiative for the new tasks and innovations.
Technology expert: A research and development must be technology savy as they
need to use technology for research. They should be able to carry out basic tasks
on the computers and hand held devices.
6.6 Skills needed by Sales employees
Various skills for sales employees are as following:
Confidence: A sales employee must be co0nfident enough as they have to faces
8
employees must be able to adapt to the distinct perspectives and customers.
Ability to use positive language: The employees must know how to use the
positive language to influence the customers.
6.4 Skills needed by Finance employees
The skills needed by finance employees includes following:
Interpersonal skills: The finance employee must have interpersonal skills which
can help them to maintain the successful relationships with the customers as well as
with co-workers.
Problem solving skills: Employees must have problem solving skills as they need
to take actions for finding solutions.
Analytical skills: The employees must have skills which enable them to think
rationally, analysing the situations and creating suitable conclusions.
Technology savy: The finance employees must know how to use the technology for
perform their lengthy and complicated processes easy and quick with the
technology.
6.5 Skills needed by Research and Development employees
Various skills which the research and development employees needs are as
following:
Effective reasoning and Thinking skills: A research and development employee
must have effective thinking and reasoning skills in order to analyse the feasibility of
the researches and development being carried.
initiative skills: A research and development employee must have the skills to take
initiative for the new tasks and innovations.
Technology expert: A research and development must be technology savy as they
need to use technology for research. They should be able to carry out basic tasks
on the computers and hand held devices.
6.6 Skills needed by Sales employees
Various skills for sales employees are as following:
Confidence: A sales employee must be co0nfident enough as they have to faces
8
rejections many times. They should acquire confident, positivity an tenacity.
Resilience: The sales employees must posses the skills skill of resilience which is
communicating with conviction. They need to feel resilience and threat they can do
better in next situation.
Active listening: The sales employee should possess the skill of active listening.
They should be able to understand the needs of customer and build trust and rapport
with them using their understandability and empathy.
Conclusion
From the above report it can be concluded that business refers to the entities that
are engaged in various different commercial activities. There are various functional
areas of business which are important for the smooth and successful running of
organization. The key functions includes the sales, marketing, finance and many
more. With the different functional areas business can efficiently utilize its resources
to its full potential and thus leading the company toward growth.
9
Resilience: The sales employees must posses the skills skill of resilience which is
communicating with conviction. They need to feel resilience and threat they can do
better in next situation.
Active listening: The sales employee should possess the skill of active listening.
They should be able to understand the needs of customer and build trust and rapport
with them using their understandability and empathy.
Conclusion
From the above report it can be concluded that business refers to the entities that
are engaged in various different commercial activities. There are various functional
areas of business which are important for the smooth and successful running of
organization. The key functions includes the sales, marketing, finance and many
more. With the different functional areas business can efficiently utilize its resources
to its full potential and thus leading the company toward growth.
9
References
Nawaz, W. and KoƧ, M., 2019. Exploring organizational sustainability: Themes, functional
areas, and best practices. Sustainability. 11(16). p.4307.
Nalawade, R.K., More, D.K. and Bhola, S.S., 2019. Employability Skills Required for
Functional Areas of Management. IUP Journal of Soft Skills. 13(1).
Tseane-Gumbi, L.A., 2018. Business Social Responsibility and Functional Areas of a
Tourism Business. African Journal of Hospitality, Tourism and Leisure. 7(3). pp.1-
9.
Luo and et.al., 2021. The Influence of Spatial Grid Division on the Layout Analysis of Urban
Functional Areas. ISPRS International Journal of Geo-Information. 10(3). p.189.
Wen-xin, S. and Yun, G., 2020. Identification and Analysis of Urban Functional Areas Based
on VGI Data. In 2020 IEEE 5th International Conference on Cloud Computing and
Big Data Analytics (ICCCBDA)(pp. 408-414). IEEE.
Shi, R., 2019. The Research of Urban Rail Transit Line Planning in Urban Main Functional
Areas. In 2019 5th International Conference on Transportation Information and
Safety (ICTIS) (pp. 1037-1041). IEEE.
Qian and et.al., 2020. Identification of urban functional areas by coupling satellite images and
taxi GPS trajectories. Remote Sensing, 12(15), p.2449.
Zhanlong and et.al., 2020. Identification of the urban functional regions considering the
potential context of interest points. Acta Geodaetica et Cartographica Sinica. 49(7).
p.907.
10
Nawaz, W. and KoƧ, M., 2019. Exploring organizational sustainability: Themes, functional
areas, and best practices. Sustainability. 11(16). p.4307.
Nalawade, R.K., More, D.K. and Bhola, S.S., 2019. Employability Skills Required for
Functional Areas of Management. IUP Journal of Soft Skills. 13(1).
Tseane-Gumbi, L.A., 2018. Business Social Responsibility and Functional Areas of a
Tourism Business. African Journal of Hospitality, Tourism and Leisure. 7(3). pp.1-
9.
Luo and et.al., 2021. The Influence of Spatial Grid Division on the Layout Analysis of Urban
Functional Areas. ISPRS International Journal of Geo-Information. 10(3). p.189.
Wen-xin, S. and Yun, G., 2020. Identification and Analysis of Urban Functional Areas Based
on VGI Data. In 2020 IEEE 5th International Conference on Cloud Computing and
Big Data Analytics (ICCCBDA)(pp. 408-414). IEEE.
Shi, R., 2019. The Research of Urban Rail Transit Line Planning in Urban Main Functional
Areas. In 2019 5th International Conference on Transportation Information and
Safety (ICTIS) (pp. 1037-1041). IEEE.
Qian and et.al., 2020. Identification of urban functional areas by coupling satellite images and
taxi GPS trajectories. Remote Sensing, 12(15), p.2449.
Zhanlong and et.al., 2020. Identification of the urban functional regions considering the
potential context of interest points. Acta Geodaetica et Cartographica Sinica. 49(7).
p.907.
10
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