Functional Areas of Business

FUNCTIONAL AREAS OF
BUSINESS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Business.......................................................................................................................................3
Functional areas of business........................................................................................................4
Key functional areas of business..................................................................................................4
Marketing.....................................................................................................................................5
Human Resource Management....................................................................................................5
Customer Service.........................................................................................................................5
Finance.........................................................................................................................................5
Research and Development..........................................................................................................6
Sales.............................................................................................................................................6
Types of skills needed by employees to work effectively in functional areas.............................6
Skills needed by marketing employees........................................................................................6
Skills needed by Human Resource Management Employees......................................................6
Skills needed by Customer Service employees...........................................................................7
Skills needed by Finance employees...........................................................................................7
Skills needed by Research and Development..............................................................................7
Skills needed by Sales Employees...............................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
The file is on business and its functions. Business can be said as a working for profit or non-
profit organisation in which several functions work together to make an organisation run.
Business also has some objectives to achieve which can be for self or society. The file discusses
on several functions of the business which are present in the organisation necessary for the
functioning of business. The functions have demand of specific talent for the organisation and
thus the skills required for the same are different too which have been emphasised in the file.
Business
Business can be defined as an organisation working as a unit for profit or non-profit purposes. It
can be in the form of a small and medium enterprise, a micro enterprise, a corporate or an NGO.
A business can be sole trader or a partnership one. If it is on a large scale, then it employs people
who can work together to sell goods or services to customers and make the business profitable.
The business activities are comprised of industrial, commercial or professional activities. The
business of various forms of organisational structure operate on a small to large scale enterprises.
These are the growth providers of our economy (Su, Chen and Wang, 2019).
Functional areas of business
The organisation is categorised in various functions as it gives a segregation of roles and
responsibilities to the departments as the business grows. The organisation on growth has to
recruit more, advertise more and get more financial planning done to continue safe operations.
Thus, the functions such as operations, Human Resource, marketing, finance all have to be
addressed for duties separately and monitored to check on the objectives being fulfilled for
business growth. These functions are assigned managers who can look for the departmental
functions deployment of roles and responsibilities to employees, make teams, provide training
and development, monitor their work and help achieve objectives for the company. The
functional areas have to look after employee issues at the workplace, provide them motivation
and keep the work going in the department. The functions leaders also have to look after the
technological changes happening in the business atmosphere and accordingly inform the senior
management of need of bringing necessary changes in the organisation.