Functional Areas of Business: Key Skills and Descriptions

This article discusses the key functional areas of business, including marketing, human resource management, customer service, finance, research and development, and sales. It also describes the necessary skills for employees to work effectively in these areas, such as communication, teamwork, time management, critical thinking, and resilience.

BSc (Hons) Business Management with Foundation
BMP3004
World of Work
Functional Areas
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Contents
1.0 Introduction..........................................................................................................................3
2.0 What is a business?..............................................................................................................3
3.0 What is Functional areas of business – Definition...............................................................3
4.0 What are the key functional areas of a business?.................................................................3
5.0 Description of the various functional areas in business organizations................................4
5.1 Marketing.........................................................................................................................4
5.2 Human Resource Management........................................................................................4
5.3 Customer Service.............................................................................................................4
5.4 Finance.............................................................................................................................5
5.6 Sales.................................................................................................................................5
6.0 Description of the types of skills needed by employees to be able to work effectively in
these functional areas.................................................................................................................5
6.1 Skills needed by marketing employees............................................................................5
6.2 Skills needed by Human Resource Management employees...........................................6
6.3 Skills needed by Customer Service employees................................................................6
6.5 Skills needed by Research and Development employees................................................6
7.0 Conclusion............................................................................................................................7
References..................................................................................................................................8

1.0 Introduction
Business management refers to managing the business activities of a company to
achieve efficiency. It seeks to ensure that its customers have an effective product and service
distribution to ensure that consumers have a brand name. In this study, Morningstar care was
taken. It is a small firm that handles personal care products. It operates in the UK region. It is
based in the UK. The many tasks and obligations of the management and the manager in a
firm are discussed in this research. Additionally to this study, the aim is to emphasise the
need to properly manage business strategies and to enhance the growth possibilities of the
organisation. Various functional areas of the relevant business organisation are also
emphasised by abilities that are necessary for an employee to perform efficiently in an
organisation across various functional areas (Benone and et. al., 2020).
2.0 What is a business?
A company is characterised as a commercial, industrial, professional or corporate
organisation. Companies may be lucrative or non-profit companies which provide a social or
humanitarian objective.
3.0 What is Functional areas of business – Definition
The six functional areas of corporate management are in theory covered by strategy,
marketing, finance, personnel, technology & equipment and operations. All business planners
should thus concentrate on analysing and comprehending these subjects in relation to their
unique company (Havlík, 2020).
4.0 What are the key functional areas of a business?
Whenever individuals establish a firm, each person must have a business strategy. As
many people think, this scheme is not only a paper for bankers and other investors. It gives
also a reference to the development and management of the firm. A plan compels the person
who begins a company to analyse and understand all the aspects of organisation, which is a
key management tool. Many new operators have entertained the exciting atmosphere of
creating their own companies to prevent such a vital pre-plan, as it is not that exciting to build
a product or deliver a service. Furthermore, since about 80% of firms are not planned and
managed well in five years, pre-planning boosts performance substantially (Treviño and Doh,
2020).

The six functional areas of company management are the overall strategy, marketing,
finance, human resources, technology & equipment and operations. All business planners
should thus concentrate on analysing and comprehending these subjects in relation to
their unique company. In terms of the selected management of the company, the
following functional areas are the focus of attention;
 Marketing
 Human resources management
 Customer service
 Finance
 Research and development
 Sales
5.0 Description of the various functional areas in business organizations
Just as different activities are carried out and controlled by different organisation,
different tasks are performed and handled by separate parts of the organisation. One reason
for separating company into functional divisions is that they may each operate within their
field of expertise and therefore improve efficiency and efficiency throughout the
organisation. A company's principal functionality is:
5.1 Marketing
Marketing is all that a firm undertakes to identify and manufacture goods and services to its
clients. Furthermore, the promotion, development and implementation of the market share
pricing plan included the marketing of goods and services while remaining competitive.
Marketing currently creates and maintains the Internet presence of a firm in today's
commercial climate based on technology. Currently, marketing on social media is one of the
fastest expanding markets (Vivar and et. al., 2020).
5.2 Human Resource Management
The planners often misunderstand the financial part of employing staff. It should also
be as relevant to be able to recruit and whether employees match the jobs specified. In some
industries, for example, there is considerable labour scarcity. Consequently, the planner may
have to know and offer what workers want. Managers must increasingly treat employees like
customers who are conscious of their behaviour.

5.3 Customer Service
Business businesses are concentrated on this aspect of the functional domains of the
post or after-sales organisation. This allows the management to get a greater goodwill of the
company on its particular market and guarantees that the items and services that are sold by
the company are effectively branded. Through a customer relations team (CRM) such
functional areas of a firm are supervised and controlled.
5.4 Finance
This is the main focus of most of the corporate plans since they require loans or
investments and for forecasting and budgeting purposes. Because money is an enterprise's
blood, operators should always know how financially sound it is. This calls for a realistic
estimate of cash flow, even though the future cannot be predicted. A planner should therefore
offer an expenditure budget and then an overview of prospective incomes. Much of this
expertise is available through study and adaption to the new firm of comparable firms.
5.5 Research and Development
In research and development, the measures taken by companies to produce and
provide new goods and services include included (R&D). It is often the first stage in the
development process. The major aim is to promote the company's latest goods and services
and to contribute to the fundamental purpose (Xiang and et. al., 2020).
5.6 Sales
Sales are intended to create the income needed for the company to run properly,
especially in B2B firms. Again, sales functions may vary according to market character and
size: internal/external representation, vertical/horizontal focusing, direct, etc. The functional
fields might differ. Sales use the marketing and sales force activities guidelines themselves.
6.0 Description of the types of skills needed by employees to be able to work
effectively in these functional areas
The success of each company depends on how effectively its workers are skilled in
according to an article published in toggle hiring in 2021. An employee's necessary
workplace has various abilities needed, which are as follows;
6.1 Skills needed by marketing employees
Communication: Each person must communicate in some way during his or her
profession without operating alone or personally. Although both employers and employees
sometimes readily communicate, there is huge benefit in effective workplace communication.

Clearly listening, talking and writing goes a long way in doing excellent work constantly.
This would benefit an employee who is involved in marketing efforts.
Teamwork: Whatever type of profession or company, no one can work alone. Even
individual traders and self-employed persons working from a distance have to depend on
others to collaborate and work. Marketing personnel should have this ability, since it is the
most widely used summary phrases, as essential as ever in modern workplaces and one of six
effective skills of employees.
6.2 Skills needed by Human Resource Management employees
Time management: The regular workforce works just 2 or 53 minutes each day on
average and in real production over eight hours. This means that the lunch or whatever you
like takes most of the time to snack coffee, talk to colleagues, navigate social networks. Skills
in time management are crucial for HR management.
Solving problems: in an ideal world, a sequence of tasks would be a pre-set response
for everybody. Unfortunately, jobs entail many unexpected circumstances in real life in
which workers have to find a solution to a problem at a time. This is an indispensable know-
how that an HR manager needs (Zoeller and et. al., 2020).
6.3 Skills needed by Customer Service employees
Integrity: Integrity, even when nobody observes, does the right thing. A candidate's
ethics is one of the greatest means of determining if they comply with their claims and do the
job. Highly integrated personnel perform their job while respecting their employees and
supervisors. This is one of the most crucial abilities for a successful employee.
Motivation: when it comes to an outstanding employee's abilities, there is nothing
more than motivation. It is a difference between an early, late and two hour lunch break and
an employee who is looking for new techniques of improving and completing the task.
6.4 Skills needed by Finance employees
Critical thinking: from an objective or conceptual point of view a critical thinker
analyses a situation. Consumers and clients frequently refer to financial experts for a fair
analysis of the facts, whether it is a leader or an inventory performance. In quick-run
corporate contexts, an ill-conceived option can lose a firm time and money. The ability to
make critically informed judgments is therefore crucial for modern financial professionals.
Flexibility: Flexible employees can handle and remain productive under high-pressure
circumstances. Good stock brokers are the most dramatic instance: their daily task is to deal
with frequent changes and choose the best step.

6.5 Skills needed by Research and Development employees
Resilience: resilience means the ability to bounce back after disaster. While this is
essential in every profession, it is more critical in high pressure conditions.
Problem resolution: Effective problem solvers recognise the circumstance and quickly
analyse their potential and decide on the best course of action.
6.6 Skills needed by Sales employees
Dedication: Dedication is a strong commitment without the prospect of rewards.
Rather than be overwhelmed by a single task, dedicated individuals devote themselves from
the beginning to completion.
Empathy: A generalised misconception is that viewpoints backed by facts and
numbers require a different approach Empathy should never be underestimated in financial
matters.
7.0 Conclusion
The research analyses the idea that excellent management planning and strategies are
essential for a firm to conduct its business. For an enterprise, business management is a key
component in deciding on the daily business activities of an enterprise. Leaders and managers
of organisations are responsible for all staff activities to boost sales and maximise the
profitability of a company. The company's performance is dependent on the effective choices
of managers and organisational leaders.

References
Books and Journals
Benone, N.L., Leal, C.G., dos Santos, L.L., Mendes, T.P., Heino, J. and de Assis Montag,
L.F., 2020. Unravelling patterns of taxonomic and functional diversity of Amazon stream
fish. Aquatic Sciences, 82(4), pp.1-11.
Havlík, V., 2020. Europeanization as the Reterritorialization of the State: Towards
Conceptual Clarification. JCMS: Journal of Common Market Studies, 58(5), pp.1288-1306.
Treviño, L.J. and Doh, J.P., 2020. Internationalization of the firm: A discourse-based
view. Journal of International Business Studies, pp.1-19.
Vivar, M., Fuentes, M., Pichel, N., López-Vargas, A., Rodrigo, M.J. and Srithar, K., 2020.
Photovoltaic and solar disinfection technology meeting the needs of water and electricity of a
typical household in developing countries: from a solar home system to a full-functional
hybrid system. Science of The Total Environment, 747, p.141082.
Xiang, Q., Zhang, J. and Liu, H., 2020. Organisational improvisation as a path to new
opportunity identification for incumbent firms: An organisational learning
view. Innovation, 22(4), pp.422-446.
Zoeller, K.C., Gurney, G.G., Heydinger, J. and Cumming, G.S., 2020. Defining cultural
functional groups based on perceived traits assigned to birds. Ecosystem Services, 44,
p.101138.