Functional Areas of Business: Sales, Finance, HR, Marketing, and More

This report explores the different functional areas of a business, including sales, finance, customer service, HR, marketing, and research and development. It also discusses the competencies and skills required for success in each area, such as time management, leadership, professionalism, team working, decision making, and communication skills. The report concludes that focusing on these functional areas is essential for a business to grow and compete in the marketplace.

Functional areas of
business

Table of Contents
INTRODUCTION ..........................................................................................................................3
Functional areas of a business..........................................................................................................4
Sales Department....................................................................................................................4
Finance...................................................................................................................................4
Customer Service management: ............................................................................................4
Human Resources Management:............................................................................................5
Information and Communication Technology:......................................................................5
Marketing Department:..........................................................................................................5
Research and Development:...................................................................................................5
COMPETENCIES AND SKILLS REQUIRED..............................................................................7
Time management..................................................................................................................7
Leadership skills.....................................................................................................................7
Professionalism.......................................................................................................................7
Team working.........................................................................................................................7
Decision making.....................................................................................................................8
Communication skills ............................................................................................................8
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
The functional areas of a business are important to be considered by a business, in order
to gain competitive advantage and maintain the business in a precise manner (Barkela, 2021). In
the recent times, all major companies focus on development of business areas in order to gain
desired success. All major companies in international and national marketplace also hires
professionally trained experts in order to perform operations related to functional areas in a well
defined manner. In this report example of John is taken into consideration, who has bought a new
company IOM electricals which is having two sites in Manchester and Liverpool. In the case,
John is eager to now about the practical requirements and responsibilities involved in running a
business. In this project different functional areas of a business are explained in a precise and
systematic manner. This project also includes different types of skills that are needed by
employees to perform working in different functional areas.

Functional areas of a business
Sales Department
The sales department is most crucial department of a business which helps in increasing
sales turnover and profitability. In the functioning of a business, sales department is considered
as most important part as it also helps in selling final product to target customers. This
department is also helpful in increasing overall capabilities of business by facilitating sales
related operations to different customers. This department performs direct and indirect selling to
customers and also helps in increasing customer satisfaction.
Finance
Finance department is concerned with maintaining financial requirements of a business
including loans, financial statements, pay roll management and financial aspects. In the business,
this department is helpful in maintaining finance related aspects which are important for business
growth (Kasaev, Petrovskaya, and Kasaev, 2019). It also helps in maintaining final accounts of
the company like balance sheet, profit and loss account and trail balance. Financial department is
also concerned with maintaining depreciation on various assets which is most important for a
business.
Customer Service management:
In the organisation most important aspects are customers, if customer is satisfying with
services, then organisation is able to compete with competitors in the market. In today scenario
the customer service support is very improved due to drastic change in technology, now
customer can raise problem by online they don’t need to go somewhere. The consumer get their
problem solved by online customer service support. It consumes very less time of customer for
resolution of a problem and it is very effective change in organisation for customer. The
customer also feels safe now because they feel secure now that if anything’s gone wrong they get
immediate solution for it.

Human Resources Management:
The Human Resources Management is play a very vital role in company. HRM is
responsible for hiring, recruiting, arranging organizational employees according to abilities of
employee. HRM has to check that no area is vacant for employee in organisation, whenever they
feel that Human resources is not sufficient for organisation then HR is start hiring the employees
for the organisation. The HR is also responsible that all policies and rules is implemented for
employees in organisation is equally.
Information and Communication Technology:
The people is communicating with help of technology without involvement of presences.
This technology helps companies to share information by technology like e-mail, call, etc. this is
very fastest way to communicate with people and delivered message privately. This secure
information between two or more persons whom we are sharing the information. People before
up gradation of technology they send message through post office it consumes more time to
delivered (Kittlaus, and Fricker, 2017). This changes of technology help every organisation in
market to communicate employees between with technology and it is very fast to delivered
message.
Marketing Department:
The organisation must have marketing team who plan strategies for organisation in
market. They analyse market wants and need and plan product or services accordingly. If market
development of an organisation is fast, then in market it is capable to survive in market and
generate more profits (Nalawade, More, and Bhola, 2019). The management should analyse
market carefully if analysis is gone wrong then your product and services is not fulfilled demand
of customer in market and this lead the organisation may shutdown in the market or organisation
has to change product according to market.
Research and Development:
The management of an organisation has to do Research and Development on regular
basis so that they become to know what is requirement of market and what is opportunity which
help organisation to make growth in market (Sánchez-Partida, Arroyo-García, and Juárez-García,
2019). In this basically they develop changes in the organisation according to market
requirement. They implement new products and services by demand of customers and change in

technology which impact organisation in very positive way in market. The customer also attract
with new product and product must be fulfilled customer expectation and satisfaction, then only
customer consume your product or services again in market and organisation have huge number
of customer in market.

COMPETENCIES AND SKILLS REQUIRED
Time management
The time management skills helps a person to maintain day to day tasks in the routine
work. It is essential for an employee in a business to focus on development of time management
skills which are important for overall development of dynamic personality. The formulation and
focus on these skills will help an employee to manage day to day tasks and activities of
organisation in a systematic manner.
Leadership skills
The leadership skills are helpful for a person in order to manage large number of people.
In the management of a team, leadership skills play a crucial role which is most important for
company. All major companies in the international and national marketplace focus on teaching
leadership skills to employees for management of team in an optimum manner. It is major role of
a leader to manage employees in company using appropriate leadership style which is autocratic,
democratic or situational leadership skills. T
Professionalism
This is the most important skill based area which helps a business in maintaining all the
functions in a systematic manner. It is major role and responsibility of a company to focus on
development of professionalism based skills for developing a competitive advantage. With the
help and support of professionalism, an employee can develop dynamic personality which is
helpful in supporting key functions (Seigler, 2017). Professionalism based skills also helps a
person to develop a focused expertise approach in managing functions of the company.
Team working
Working in a team includes, development of systematic operations according to the tasks
and roles of a company. In the recent times, importance of team working are increasing in this
competitive world. It is essential for a person to develop team working skills in order to lead the
marketplace and develop precise team related approach. The team working should be performed
by an individual with utmost ethical responsibility for leading major team members.

Decision making
The decision making skills are most important for an employee in the organisation in
order to develop and formulate key decisions related to operations. In the marketplace, it is major
role of a company to focus on decision making skills for formulating key operations and
approaches. All major companies in the global and domestic marketplace focus on development
of decision making skills in employees, so that they can make dynamic and perfect decisions.
The decision-making skills of employees should be supported by strategic management of a
business in order to perform and develop key operations.
Communication skills
The communication skills and their development is most important for an organisation in
order to effectively develop coordination between different employees. All major companies
should focus on developing effective communication skills in employees in order to achieve set
organisational goals and objectives in a short span of time. The communication skills includes
verbal communication and non-verbal types of communication by employees in order to
communicate with different employees (Valcik, Sabharwal, and Benavides, 2021). Top level
management and strategic management of a business is also required to develop communication
in the organisation and between employees for gaining effectiveness in operations. In the recent
times, it is also essential for an employee to develop application of communication skills with the
help of information and technology in order to perform quick and accurate communication. In
the communication skills, an employee exchange crucial information with other employee to
perform systematic development of operations.

CONCLUSION
From the above stated report it can be concluded that it is essential for a business entity to
focus on different business operations in order to grow at the marketplace. This report concludes
importance of strategic and top level management of a company in making a business more
dynamic and competitive. The above discussion concludes effectiveness and reliability of
functional areas of a company in order to gain competency edge. This project also concludes role
played by functional areas of a business in order to deal with issues and challenges of a business
at the marketplace.

REFERENCES
Books and Journals
Barkela, B., 2021. Leadership Communication with Multiple Managers and Its Influence on
Internal Integration of Different Functional Areas. In Conference Proceedings Trends in
Business Communication 2020 (pp. 1-18). Springer Gabler, Wiesbaden.
Kasaev, B.S., Petrovskaya, M.V. and Kasaev, M.B., 2019. Innovative approaches to business
managing functional areas in a territory. Industrial Engineering & Management Systems, 18(3),
pp.440-453.
Kittlaus, H.B. and Fricker, S.A., 2017. Orchestration of the Organization’s Functional Areas.
In Software Product Management (pp. 219-254). Springer, Berlin, Heidelberg.
Monden, Y. and Talbot, B., 2019. The Toyota management system: linking the seven key
functional areas. Routledge.
Nalawade, R.K., More, D.K. and Bhola, S.S., 2019. Employability Skills Required for
Functional Areas of Management. IUP Journal of Soft Skills, 13(1).
Sánchez-Partida, D., Arroyo-García, D.,and Juárez-García, E., 2019. Logistics planning for the
synchronization of key functional areas of a Latin American bottling company. In Best Practices
in Manufacturing Processes (pp. 117-136). Springer, Cham.
Seigler, D.J., 2017. Social media responsiveness in the public sector: A study of social media
adoption in three functional areas of local government. International Journal of Organization
Theory & Behavior.
Valcik, N.A., Sabharwal, M. and Benavides, T.J., 2021. The Functional Areas Utilizing HRIS in
a Public Organization. In Human Resources Information Systems (pp. 115-124). Springer,
Cham.