Functional Areas of Business and Required Skills for Productivity

World of Work

Table of Contents
INTRODUCTION.....................................................................................................................................3
MAIN BODY.............................................................................................................................................3
TASK..........................................................................................................................................................3
Definition of functional areas of business................................................................................................3
Key functional areas of a business...........................................................................................................3
Skills needed in different functional areas...............................................................................................4
CONCLUSION..........................................................................................................................................5
REFERENCES..........................................................................................................................................7
Books and Journals:.................................................................................................................................7

INTRODUCTION
Business can either be a profession, occupation or charity or is a commercial activity
which is consists with delivering goods and services in exchange profits. In business profits are
not necessarily is money but it can be any form which includes business activities. The main
purpose of the business is to make the business endure and conduct its activities for a long run
(Cho, J., Kim, E. and Jeong, I., 2021). The report highlights a case study of John who has newly
owned the IOM Electronics Ltd. The organisation involves 200 employees in order to run its
business. The report includes the following topics such as different functional areas such as
human resource, marketing, finance, sales and so on. There are different types of skills required
by employees in order to work productively in such areas.
MAIN BODY
TASK
Definition of functional areas of business.
Having the knowledge of various functional areas in organisation is a basic understanding
that every entrepreneur needs to have. Functional areas is a group of employees who have similar
expertise and skills. There are various functional areas in the organisation such as manufacturing,
marketing, human resource, sales, purchase, administration and so on. The main reason for
separating business operations into functional areas is to make every area to operate within its
expertise in order to build organisation more productive and effective as a whole. Functional
areas vary from organisation to organisation which is depend on its nature of the market and size
of the business (Evans, D., Bratton, S. and McKee, J., 2021). As John is going to run a new
business he must have the understanding of various functional areas because if these departments
are not there in the organisation it will result to not only fail in implementing policies but also
fail to operate successfully in the market.
Key functional areas of a business.
Organizations well-organized by different functional areas for various reasons. It is more
productive to have employees with similar skills categorized together so that they can team up on
project easily with required expertise as well as will have backup skills if one member is not able
to fulfill their duty. Organising activities by functional areas also allows a manager with similar
expertise and skills. In context to IOM Electronics Ltd, there are several areas that are ordinarily
organized into function:-
Different functional areas in business organisation:
 Marketing: Marketing includes of all that an organisation does to identify the needs and
wants of customers and produce products and services in order to meet those
requirements. Marketing function consists of promoting products and services,
determination of delivering goods and services, development of pricing strategy to gain
the target market remain competitive (Le, D. N., Le Tuan, L. and Tuan, M. N. D., 2019).
As the world is full of technologies, marketing is also accountable for overseeing and