Business Functions and Skills for Employee Effectiveness

This report analyzes the various functional areas within business organizations, focusing on IOM Electronics Ltd, and identifies the essential skills employees need to work effectively in each area. It covers key functions such as marketing, operations, human resources, accounting and finance, sales, and manufacturing, detailing their responsibilities and contributions to organizational goals. The report further discusses crucial skills for employees, including communication, managing and pitching, time management, confidentiality, decision-making, and accounting skills. It emphasizes the importance of collaboration between different functions and departments to achieve organizational objectives and gain a competitive advantage. The report concludes that possessing relevant skills among staff members and employees is vital for attaining organizational goals and objectives.

World of work

Table of Contents
Introduction......................................................................................................................................3
Main body........................................................................................................................................3
Describe the various functional areas in business organisations.................................................3
Describe the types of skills needed by employees to be able to work effectively in these
functional areas............................................................................................................................4
Conclusion.......................................................................................................................................6
REFERENCES................................................................................................................................7

Introduction
John is 21 years old and has no working experience; nonetheless, he recently won £10 million in
the lottery. John has decided to purchase a local business (IOM Electronics Ltd) with the
intention of running it himself. The business is such a well regional firm with 200 employees
spread over two locations in Manchester and Liverpool (Bangun, Ratnasari and Hakim, 2019).
He is well informed that he is inexperienced with several of the tasks and obligations that come
with entrepreneurship. The following report consists of various business functions needed within
IOM electronics started by John.
Main body
Describe the various functional areas in business organisations.
There are different functions within IOM electronics. Several skills are needed within employees
for attaining organisational goals. Some of these are mentioned below -
 Marketing - Planners should get to know their target clients and figure out how to
approach them because marketing and sales will generate revenue (Canlas, 2019). Most
new business owners make the mistake of employing a "inside-out" marketing strategy,
in which they first produce their product or service before looking for a way to sell it to
an unknown "out there" public. In the case of IOM electronics, the marketing department
will be in charge of the company's target markets. This will aid in increasing sales and
earnings.
 Operations - As the name implies, this role is in charge of tasks such as converting inputs
such as raw materials and equipment into results, as well as ensuring the right services
are available for assembly (Emami and Soltani, 2018). It optimizes output performance
and productivity levels. IOM electronics delivers a high level of competence and supplies
strong and consistent service.
 Human resource - This department is in charge of managing people inside the
organisation, which includes: determining the company's workforce needs, Recruiting
and hiring people who meet the company's qualifications. Employee development and
training to encourage them to be more productive. Creating and designing a pay structure,
as well as an employment contract and a remuneration for each position. Creating a
system of rewards and incentives to keep employees motivated. It is concerned in

terminating or dismissing employees as well as managing labour relations. It must plan
and implement a human resource outsourcing strategy.
 Accounting and finance - The accounting & finance department is responsible for
ensuring money within the company and keeping track of just how much money will
come in and goes off. In particular, the financial manager is in charge of: Maintaining
financial records and transactions for the organisation, such as salaries and supplier
payments. Budgeting and expense management for other business duties are aided by it.
This comprises releasing income reports to external stakeholders like as creditors,
speculators, and the authorities in order to offer accounting reports. So it provides
financial data to management and other organizations for judgement. It's about ensuring
that people follow the rules.
 Sales department - Companies that sell retail or wholesale items to other businesses or
customers require sales divisions (Ostovarfar, and et.al, 2021). To create customer
connections, reach specific revenue goals, and pitch new items, sales departments
organise their sales team. When it comes to acquiring customers, the sales team might
utilise either a "push" or a "pull" strategy. A salesman is often placed in a physical store
to offer things using the pull method. When adopting the push approach, salespeople are
typically instructed to phone, email, or visit potential customers.
 Manufacturing department - The manufacturing department orders inventory for
manufacture, fulfils production orders given by management, and coordinates product
adjustments with the marketing and advertising departments. If your company
manufactures electric guitars, for example, you'll need a production department and
people dedicated completely to that task.
Describe the types of skills needed by employees to be able to work effectively in these
functional areas
Successful entrepreneurs understand how to take calculated risks that will help their company
expand while avoiding any potential commercial dangers. Because the business will be subject to
foreign rules and regulations, political interference and red tape, finance risks from currency rate
fluctuations, investments, and other factors. Entrepreneurs who are unable to identify and

manage risks put their company's operations and extension attempts in jeopardy. It is critical to
understand how to recognise and manage potential losses. In context of IOM electronics, there
are following skills that have to be present among employees -
 Communication skills - The startup is bound to fail if the leadership's aspirations and
goals aren't effectively communicated to the management and execution teams. Business
executives must put in place processes that allow the company's goals and directives to be
trickled and carried out by all parties engaged in delivery of the product to the client.
When there is a communication problem, it has an impact on the final product, service,
brand, and customer experience. It's critical to know how to deal with these challenges
using modern business promotional tools.
 Managing and pitching - It's critical to master the art of pitching to the intended audience.
When engaging with other business people, networking, and pitching for additional
business clients, the way managers come across will have a significant impact on the
success. Pitching the start up worldwide will expose managers to a variety of cultures,
each of which has its own set of values. Western cultures will be more interested on the
ability to be bold and forceful with profit development over short and medium-term
milestones than collectivist cultures will be interested in the long-term perspective.
 Time management - The ability to manage one's time is crucial. When it comes to
drafting employment contracts and managing payroll and insurance policies, time is of
the essence. HR departments are in responsible of sticking to deadlines and following all
applicable laws. HR departments keep track of documents, such as contractual
arrangements, in both physical and digital formats. In workgroups, HR specialists are
typically in charge of maintaining and accessing employee records from modern filetypes
(e.g. HRIS.)
 Confidentiality skills - Revealing sensitive information of the employee (such as health
records) can put that individual in an embarrassing situation while also increasing the
group's legal risks. HR workers who are successful at what they were doing are careful
with sensitive information. Contract terms, budgets, compensation, and proposition
documents are among the data that personnel of the Hr team have access to. They must
retain this knowledge discreet and maintain their professional attitude.

 Managing skills - Change management is a term that refers to the process of The HR
team should be able to recognise when it's time to update or create new policies, as well
as how to help employees embrace change (for example, by assisting employees in
transitioning into new jobs). HR professionals are corporate partners who contribute to
strategic planning and decision-making (Wali, 2020). They must be able to predict when
modifications will be required.
 Decision making skills – All employees professionals need good decision-making skills.
The demand for these talents is considerably greater for individuals working in business
or management. Determining how to divide resources, who makes up a team, and how to
roll out a new initiative across a company are all decisions that require considerable
thought. Managers can fuel their processes with important insights to make data-driven
decisions, which frequently leads to improved outcomes, thanks to the rising variety of
tools and resources that can be utilised to harvest data.
 Accounting skills - Accounting knowledge includes the ability to document financial
accounts as well as a thorough comprehension of the relevant accounting regulations.
Depending on the role, managers may or may not be personally responsible for financial
accounts and budgeting. Managers may have an experienced accountant on the team to
assist you, so managers don’t need to be an expert accountant. However, in order to
provide financial, advise, it should be completely comfortable reading and discussing
financial statements.
Conclusion
From the above discussion, it is evaluated that there are several business functions that have
to be done properly. This enhances competitive advantage of company within market. It is also
important that al staff members and employees must be having skills that are useful for attaining
organisational goals. There is need to have collaboration between different functions and
departments of the company. This helps to manage the attainment of organisational goals and
objectives.

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