Functional Areas in IOM Electronics Ltd: Skills Required by Employees

This report discusses the different functional areas in IOM Electronics Ltd, including marketing, finance, operations, and human resources. It also explores the skills required by employees to work in these respective functional areas. The report emphasizes the importance of these functional areas in achieving the objectives of the business.

Functional Areas

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Various functional areas in the organisation...............................................................................3
Skills required by employees to work in these respective functional areas................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Functional areas refers to the segmentation of departments on the basis of functions that
they perform in the organisation. These functional departments have different roles and
responsibilities in the organisation and they are required to work together in order to ensure that
the objectives of the business are attained (Anderson and et. al., 2021). The main purpose of
division of functional areas is to ensure that every required business activity is carried out
effectively in the business. In this report IOM Electronics Ltd is considered which is based in
two cities that is Liverpool and Manchester. Further this report revolves around the functional
areas that are there in the organisation along with the skills that are required in the employees to
effectively work in the different types of functional areas.
MAIN BODY
Various functional areas in the organisation
There are several functional areas in the business, the segmentation is done in the
organisation in order to ensure that the activities are being carried out in the business in a smooth
manner. Further to effectively run the operations in the IOM Electronics Ltd, the business must
develop and maintain these functional areas in the organisation: Marketing department- It is must for every organisation to manage and maintain a
marketing department in the organisation as this department is concerned with dealing
with the potential customer by analysing their needs and further promoting the products
in the market. Marketing department fulfils major roles and responsibilities in the
business, few of them are advertising, promotion and selling of the products. Advertising
of the products is often done through the online and offline marketing channels as it
ensures that the customers are well aware about the products and services that are being
offered by the company (Fahad, 2019).. In context of IOM Electronics Ltd, they need to
develop a marketing team which will be responsible for doing the market research of the
electronic products and the needs of the customers in the market. After the research the
marketing team will promote their products in the market so that the customers will get
aware about the products that are being sold by the business. The effective promotional

strategy used by IOM Electronics Ltd's marketing department will increase the sales of
the company which will ultimately increase the profitability of the business. Finance department- This department is responsible for handling all the monetary terms
where they are responsible for various functions such as preparation of budget, handling
all the accounts and managing the funds of the business. The prime task of the financial
department is to deal with all the financial aspects of the business and further managing
those aspect to report the revenue of the company (Sangeetha and Kumaran, 2018). The
functions that are generally carried out by raising finance, preparation of budget and all
the final accounts. In context of IOM Electronics Ltd, it is essential for them to prepare
budget for the coming financial year so that the business can ascertain the expenses and
revenues that the business might report in the future. Further preparation of various
accounts such as Profit and loss, cash flow statement and Balance sheet is one of the most
important task as they are used in determining the financial position of the business.
These accounts of the company are further communicated to the important users so that
they can easily interpret the financial position of the company. IOM Electronics Ltd's
financial accounts are also used by the government in order to ascertain the amount of tax
that the company will pay in the particular financial year. Therefore financial department
plays a major role in the organisation and the roles and responsibilities must be well
fulfilled in order to ensure that the funds of the business are well managed. Human Resource Department- Human resource department is a functional area that
deals in the managing the human resource of the company. There foremost task is to hire
people in the organisation by following the standard procedure of hiring. The recruitment
process is followed by the human resource managers to ensure that they are hiring right
people in the organisation (McDaniel Jr and Gates, 2020).. Further their task is to board
the employees in the organisation by explaining them their roles and responsibilities and
the resources and benefits that the company will be offering to their employees. In
context of IOM Electronics Ltd, they are required to manage their employees as
employees are one of the most important asset of the business who helps the organisation
in achieving its objective. The organisation in which the employees are well managed,
motivated and clear about their job is most likely to perform well in along run and this
will directly constitute to the sustainability of the business. In case IOM Electronics Ltd

feels that they need more manpower in the organisation then the human resource
department will help in recruiting the qualified and skills personnel for the respective job
openings in the business.
 Operations department- This is the base of all the activities as the operational department
is responsible for manufacturing and managing all the activities that are related with the
manufacturing process (Hall, 2017). The operational department manages the raw
material along with the finished products in the organisation so that the business can
continue its operations. They are responsible for making the products and services in the
organisation which will be further offered by the company to the customers. In context of
IOM Electronics Ltd, the operational department of the company will ensure that the
business is well controlling its quality and the production areas of the business is also
well managed. This is one of the most important department as the innovation in the
production of the goods is bought by the people of this department which ensures that the
products and services that the company is offering is of best quality so that the business
can acquire more and more customers.
Skills required by employees to work in these respective functional areas
Skills required in the marketing department of IOM Electronics Ltd: Creativity and problem solving skills- The employee that is in the marketing functional
area of IOM Electronics Ltd is required to have creativity skills as the promotional and
advertisement part requires the person to be creative and apply different techniques so
that the product is well promoted and the customers get attracted towards the services and
products that the company is offering. Communication skills- The employees that are working in the marketing department
must have the communication skills as only an effective communication can ensure that
the details of the products and services are well communicate to the customers (Van
Mierlo and et. al., 2018). This helps the company in increasing sales as the effective
communication skills helps in convincing the customers to but the products and services.
Skills required in the finance department of IOM Electronics Ltd: Accounting and mathematical skills- The employee must have these skills as the
preparation of the account extensively requires these skills. The calculation of the money

in the budgets and other financial accounts is performed by the person who is a master of
these skills. Problem solving skills- The employees working in the finance department must have the
problem solving skills as there are several problems in the organisation regarding the
financial situation of the company and this needs to be managed by the finance
department of IOM Electronics Ltd.
Skills required in the operational department of IOM Electronics Ltd: Management skills- The operational department must have this management skills as
they deal in managing the raw materials, finished goods and the workers that are working
in the organisation. This skills is essential as without using this skill the operational
department won't be able to increase the productivity (Srinivasarao, 2021). Technical skills- The operational department must posses the technical skills as the
manufacturing process is dependent on these factors. This is one of the major skills as
they require the knowledge of handling the machinery.
Skills required in the Human Resource department of IOM Electronics Ltd: Interpersonal skills- The human resource department communicates with the people on a
daily basis and thus they must have the interpersonal skills so that they can well
communicate with the employees working in the organisation.
 Analytical skills- This is one of the major skill that is required in the human resource
department as they are required to come to conclusion on the basis of the information that
is being conveyed to them.
CONCLUSION
From the above report it can be concluded that the organisation requires several types of
functional areas in the business and every functional areas has its own set of roles and
responsibilities in the business. These functional areas are essential for the business as it helps
the organisation in achievement of the set objectives. The major functional areas that are found
in the organisation are marketing, finance, operations and human resource. Further the
employees require different types of skills in each functional area in order to effectively fulfil the
roles and responsibilities that are assigned to them.

REFERENCES
Books and Journals
Anderson, S., and et. al., 2021. Pathways to profits: The impact of marketing versus finance
skills on business performance. Journal Article.
Fahad, M.D., 2019. An Evaluation of the Operations of M/S Rabby Traders.
Hall, S., 2017. Innovative B2B marketing: new models, processes and theory. Kogan Page
Publishers.
McDaniel Jr, C. and Gates, R., 2020. Marketing research. John Wiley & Sons.
Sangeetha, P. and Kumaran, S., 2018. Impact of shared leadership on cross functional team
effectiveness and performance with respect to manufacturing companies. Journal of
Management research, 18(1), pp.44-55.
Srinivasarao, G., 2021. Overview of Inventory Optimization in Operations
Management. BUSINESS RESEARCH AND INNOVATION, p.486.
Van Mierlo, J., and et. al., 2018. The dynamic nature of HRM implementation: a structuration
perspective. The International Journal of Human Resource Management, 29(22),
pp.3026-3045.