Functional Areas

Functional Areas

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
The various functional areas in IMO Electronics Ltd.................................................................1
The types of skills and qualification needed by employees to be able to work effectively in
these functional areas..................................................................................................................2
CONCLUSION................................................................................................................................3
References:.......................................................................................................................................4

INTRODUCTION
Business and its functions smoothly run by performing various activities according to the
roles and functions which are demand by market to earn profitability (de Sousa Oliveira and
Luce, 2020). These activities are like production, distribution, cash management, research and
development etc. Therefore, to perform these functions by different individuals with different
skill set, teams are developed in an organisation which are named as functional areas of business.
There are various business functional areas such as marketing, HR, finance, R&D, operations
etc. (Crawford, 2020). The report is about the John has little work experience, decided to buy the
IOM Electronics Ltd based at Manchester and Liverpool. The company has 200 employees with
warehouse and divisional organisation structure and marketing and finance department. The
skills and education required for these functional areas are discussed in the report.
MAIN BODY
The various functional areas in IMO Electronics Ltd.
John a 21-year-old boy has decided to buy the IMO Electronics Ltd as he has won the
lottery of £10 million. The company is well known regional organisation placed at two locations
Manchester and Liverpool with 200 employees and a warehouse. This is the electronic company
with divisional organisational structure means company has sorted the functions of business into
the functional areas or divisions. The two functional areas are: Finance department: This functional area is the involve the planning and managing the
capital funds of the company (Gaur, 2019). This area is accountable for making financial
statement related to the internal and external financial transactions to decide the financial
condition of firm. The department focuses on the loans, funds, investors, cash budget and
other financial factors related to firm.
 Marketing department: Marketing department play a role in interacting with the
customers directly and indirectly to recognise their needs and complaints (Grugulis and
et. al., 2019). This department also plays attention in managing the sales and revenue.
Marketing department play role in advertising and promoting the service or product in
market.
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