Functional Areas of Business: Key Areas and Required Skills

This article discusses the concept of the world of work and the functional areas of business. It explains the key functional areas of business such as marketing, human resource management, customer service, finance, research and development, and sales. It also describes the skills required by employees to work effectively in these areas.

BMP3004
World of Work
Functional Areas
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Contents
1.0 Introduction 4
2.0 What is a business? 4
3.0 What is Functional areas of business – Definition
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4.0 What are the key functional areas of a business?
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5.0 Description of the various functional areas in business
organizations 5-6
5.1 Marketing 5
5.2 Human Resource Management 5
5.3 Customer Service 5
5.4 Finance 5
5.5 Research and Development 6
5.6 Sales 6
6.0 Description of the types of skills needed by employees to be
able to work effectively in these functional areas
6-7
6.1 Skills needed by Marketing employees 6
6.2 Skills needed by Human Resource Management employees 6
6.3 Skills needed by Customer Service employees 7
6.4 Skills needed by Finance employees 7
6.5 Skills needed by Research and Development employees 7
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6.6 Skills needed by Sales employees 8
7.0 Conclusion 8
References 9
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1.0 Introduction
World of work can be referred to a process which helped in providing exposure to the
current scenario or the reality of the work place. The world of work concept helps the
individuals in deciding their objectives in order to help them in determining their strengths
and weakness in order to accomplish their educational as well as career goals. The world of
work concept help the individual in exploring the current situation of the real life work place.
The current world of work situation revolves around the concept of new technology in order
to facilitate ease of doing the task and accomplishment of goals (Baqoevna, Oxunjonovna
and Qodirovna, 2021 ).
2.0 What is a business?
Business is referred to an economic activity which mainly deals with selling of goods
and services with an aim of earning profits. Businesses can be operated by a single individual
as well as various people together. There are various types of statuses that can be adopted by
the organization a per their feasibility. The various types of legal statuses include sole
proprietorship, partnership, corporations, etc. The businesses can adopt any of the mentioned
as per their types of business and size of business.
3.0 What is Functional areas of business - Definition
Functional areas of business is referred to the official group of employees who share
common skills, knowledge and qualifications. There are various kinds of functions that are
performed in every organization. Each functional area perform its individual tasks in order to
accomplish their functional goals which contribute towards achievement of organizational
goals.
4.0 What are the key functional areas of a business?
The business organization consists of various functional areas that are required to
accomplish the organizational goals in an effective manner. The various and the crucial
functional areas of business are Finance, Human resource Management, Sales, research and
development, Marketing and customer service. The employees of each functional areas has
its own expertise.
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5.0 Description of the various functional areas in business
organizations
5.1 Marketing:
The marketing functional area helps in identifying the needs of the customers. The marketing
function aims at designing the products and services that meet the needs of the customers in
the market. The marketing function aims to promote goods and services to the customers
along with determining the type of delivery the organization can choose in order to deliver its
product to the customers. The employees of marketing function aim to develop pricing
strategy in order to increase its market share and have a competitive advantage to deal with
the competition in the industry (Baqoevna, Oxunjonovna and Qodirovna, 2021).
5.2 Human Resource Management:
The human resource management is a financial function that aims to avoid the situation of
labor shortage in the organization. They estimate the man power needs at the organization
and hire individuals according to meet those needs. The human resource management hires
the individuals as per the skills, knowledge and expertise. The Human resource management
aim to attract the potential employees that can prove fruitful to the organization. The business
organization also aim to provide incentives to them in order to attract potential employees to
the organization.
5.3 Customer Service:
The customer services or the employees of customer service play a major role in
accommodating the customers. In the customer service functional area of the organization,
the employees tend to attend the inquiries and complaints of the customers in a professional
as well as positive manner. The employees belonging to the functional areas of customer
service specialize in assisting the customers of the organization (Bodensteiner and et.al,
2021).
5.4 Finance:
The functional are of finance operate in order to generate and monitor the inflows and
outflows of cash in the organization to manage the business and accomplish the goals of the
organizational goals more effectively. The finance function perform various processes in the
organization such as forecasting the financial needs and formulating the budgets for the
organization. The employees of the functional unit of finance aim to forecast the expenditures
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and the incomes of the business in order to forecast the financial needs and the ways to fulfill
the financial needs of the organization.
5.5 Research and Development:
The research and development functional area of the organization can be referred as the most
important element of the organization. In the times where the organizations have shifted their
focus upon the innovations and creativity, they tend to invest more upon the research and
development. The investment in research and development tends to be productive as the
function plays a major role in growth and survival of the industry. The research and
development plays a crucial role in improving and diversifying the business (Jackson and
Bridgstock, 2021).
5.6 Sales:
The aim of sales functions is to increase the sale of goods and services produced by the
business. The sales functional area seals the sales among the parties with an aim to generate
revenue from sales in the organization. The functional activities of the employees belonging
to the sales functional area may vary depending upon the nature of the business and size of
the business.
6.0 Description of the types of skills needed by employees to be
able to work effectively in these functional areas
6.1 Skills needed by Marketing employees:
The skills required by the marketing employees of the business are explained below-
 Team work- The team work skills are required by the employees of marketing
department in order to have mutual efforts in conducting researches.
 Communication skills- The marketing employees need to have good communication
skills in order to communicate the information regarding their products and services
to the customers.
 IT skills- The employees need to have good IT skills in order to use technology to
make their efforts in the organization easy (Mamache and Dani, 2021).
6.2 Skills needed by Human Resource Management employees:
The skills required by the Human Resource employees of the business are explained below-
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 Communication skills- The employees working under the functional area of human
resource require communication skills in order to represent the employer and
communicate as an activist for the employees.
 Administrative skills- The employees of human resource department need to excel
upon the administrative skills in order to fulfill the responsibilities of payroll and
various other.
 Coaching skills- The coaching skills are very crucial in order to train the individuals
during the various sessions. These are helpful during the on-boarding process and
addressing the issues in the organization (Nasriddinov, 2021 ).
6.3 Skills needed by Customer Service employees:
The skills required by the customer service employees of the business are explained below-
 Patience- The employees of customer service need to have a lo of patience while
listening to the complaint of the customers and addressing the feedback as well.
 Communication- The employees of customer service department need to have good
communication skills in order to deal with the customer inquiries and convey the
proper message.
 Technical knowledge- the employees of the customer service need to have ample
technical knowledge of the industry in order to address the customer issues.
6.4 Skills needed by Finance employees:
The skills required by the finance employees of the business are explained below-
 Analytical skills- The analytical skills are very crucial in order to interpret the
business situations and derive upon a solution to overcome with the challenges.
 Accounting skills- The accounting skills help in identification of the transactions that
occur in the business and further record and analyze in order to perform financial
analysis.
 Business intelligence- The business organizations require employees who have good
business intelligence skills who can efficiently work on enterprise resource planning
tools like SAP and Oracle in order to manage the inventory (Sobel, 2021).
6.5 Skills needed by Research and Development employees:
The skills required by the research and development employees of the business are explained
below-
 Analytical skills- The needs to have analytical skills in order to analyze the scope of
improvement in the operational activities of the organization.
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 Time management skills- The time management skills are very crucial in order to
spare time for all the necessary activities and accomplish them well in time.
 Technological skills- The employees of research and development need to be a
technology enthusiast in order to work with ease.
6.6 Skills needed by Sales employees:
The skills required by the sales employees of the business are explained below-
 planning and execution skills- The planning and execution skills will help in setting
the targets and work in order to accomplish the goals.
 coaching skills- The coaching skills will help in training the new employees of the
organization regarding the sales activity.
 Leadership skills- The leadership skills are quite crucial in order to lead the team
member and help them stay calm in the stressful situations (Rudolph and et.al., 2021).
Conclusion
It can be concluded from the study that the functional areas play a major tole in the
world of work. Each business organization comprises of various functional parts that operates
various activities in the organization. There are various functional parts of the organization
and among them the most crucial or the most common ones are finance, sales, marketing,
human resource management, research and development and customer service. Each
functional unit performs it particular tasks in order to accomplish the organizational purposes.
The employees of each functional part require some specific skills that are described in the
study.
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References
Books and Journals
Baqoevna, R. M., Oxunjonovna, S. H. and Qodirovna, A. Z., 2021. ANALYTICAL AND
SYNTHESIZED FOLKLORISM IN NAVOI'S WORK. Journal of Contemporary
Issues in Business and Government. 27(2). pp.1626-1633.
Baqoevna, R..M., Oxunjonovna, S..H. and Qodirovna, A..Z., 2021. ANALYTICAL AND
SYNTHESIZED FOLKLORISM IN NAVOI'S WORK. Journal of Contemporary
Issues in Business and Government. 27(2). pp.1626-1633.
Bodensteiner, B. L. and et.al, 2021. Thermal adaptation revisited: how conserved are thermal
traits of reptiles and amphibians?. Journal of Experimental Zoology Part A:
Ecological and Integrative Physiology. 335(1). pp.173-194.
Jianyi, P. and Ma, Y., 2021. Overall Layout of Diplomatic Work under the Conceptual
Framework of the Belt and Road. In CHINA’S MAJOR COUNTRY DIPLOMACY:
Chinese Characteristics, Connotations, and Paths (pp. 173-186).
Mamache, N. and Dani, F., 2021. The Religious Revival and Missionary Societies: A Case
Reference of the CMS and Its Early Work in the Muslim World. الحوار
,المتوسطي12)2( , pp.401-415.
Nasriddinov, D. A., 2021. SYSTEM OF IMAGES IN GEORGE RR MARTIN’S FANTASY
WORLD. Scientific reports of Bukhara State University. 4(6). pp.200-206.
Rudolph, C.W. And et.al., 2021. Pandemics: Implications for research and practice in
industrial and organizational psychology. Industrial and Organizational
Psychology. 14(1-2). pp.1-35.
Sobel, M., 2021. The world they made together. Princeton University Press.
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