Functional Areas of Business and Skills Required by Employees

This report discusses the functional areas of business, including marketing, human resources, finance, and more. It also explores the skills needed by employees to work effectively in these areas, such as communication, problem-solving, and interpersonal skills. The report is based on a case study of John, who won a lottery and acquired a local company without proper knowledge of running a business.

Table of Contents
Introduction .....................................................................................................................................1
What is business.....................................................................................................................1
What are the functional areas of business..............................................................................1
Discus the important key features of business. .....................................................................2
Discuss the kinds of skills needed by employees to be able to work effectively in these
functional areas.......................................................................................................................2
Conclusion.......................................................................................................................................3
References ......................................................................................................................................4

Introduction
On the basis of present report is based on making analysis as per the case study is related
with John who is 21 years old and posses a very less working experiences where he has won
lottery worth of 10 million pounds (Carter, Awsumb and McMillan, 2021). , John has made a
decision of acquiring of a local company with a view of running the company, the organisation is
well known retail sector organisation and presently they are having a workforce of 200
employees across two major sites that includes Liverpool and Manchester. For this purpose of no
proper knowledge and understanding of the practise responsibility and effectively requirement
that are required for the effective purpose of running the business. So, it working as consultant
the present report is majorly work on focused on two aspects which includes the functional areas
of business organisation. Further there will also evaluation of the skills type are required by
employees so that they are able to effective contribute towards accomplishment which laid roles
and responsibilities in these functional areas.
What is business
Business is term about organisation or enterprising entity of contain selling of product
and services in competitive market to satisfy the customer as well as economic needs and wants
fulfilled (Malik, Tripathi and Gupta., 2021). Business can be for profit organisation or non profit
sets that are operating skills fulfil charitable mission or accomplishment of profit sets are
operating to fulfil normal corporations. It is used to define the activities and efforts that the
individuals are putting their accomplishment with proper aims and objectives that are part of laid
mission vision statement in long term.
What are the functional areas of business
There are generally six functional areas on which business related management that
involves marketing, human resources, finance, requirement, technology, operations etc. All the
business planners have to attained better work towards better understand of these specific
functional areas. These are the part of individual business where the main roles of these are
having specific functional areas that are part of individual business (Olsson and Gustafsson.,
2020.). The main roles of these functional areas to ensure that various function are being
managed with their own protocols and specification with helps of avoiding duplication.
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Discus the important key features of business.
There are different functional areas that include where the marketing department,
operation department, accounting, finance, operation to perform major business functionalists
without which a business cannot functions.
Description of the various functional areas in business organisation.
Marketing: This department in any organisation is associated with all activities that have
to be undertaken with perspective of promoting their products. It includes various function such
as advertising, selling and further delivering of product to customers or other business. The main
focus of this function every organisation is to make internationally channelise and also promote
their product and services to gain more competitive advantages. This also helps to target the
customer as well as market for pitching better product and services to pitch right customer as per
their need requirement.
Human resource Management: In business organisation, the role of human resource
management is having function that is associated with dealing with various practises such as
hiring, selecting, deploying and managing the employees in organisation. This is simply regarded
function towards employee management that is laying it emphasis on employees as well as
provide them training and development and performance appraisal. These two important HR
practises would create more development in employees efficiency to bring more development in
their work effectively. Thus, it is supported on strategic approach of efficient and effective
management of people in organisation that can help them in achievement of required competitive
advantage in long run perspective.
Finance: According to this department is also one of functional department that is mainly
responsible for the purpose of acquisition of funds and further through financial resources in
order to further plan to expenditure in various assets of long run. Through financial interpretation
and meaning in various context, in business is regarded as the administrable areas where the
arrangement towards funds and credits so that overall business function that takes places
effective manner.
Discuss the kinds of skills needed by employees to be able to work effectively in these functional
areas.
Skills needed by Marketing employees:
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The marketing department deal with implementing marketing related strategy and and
creating awareness regarding the brand image among the target customers (Shmatko, Katchanov,
and Volkova., 2020). The skills required by the marketing manager in order to perform these task
includes various hard and soft skills. Hard skills are related with the technical aspects with
particular strategy and tools. Whereas the soft skills includes the skills like communication skills,
problem solving skills, interpersonal skills and problem solving skills. All these skills help s in
smoothly carry out the market related activity.
Skills needed by Human Resource Management employees:
The human resource department is concerned with ensuring that there is availability of
right candidate at the right place. In order to recruit and select the right candidate requires right
skills and capabilities by the HR manager. Some of the essential skill needed by the human
resource management employees includes strong communication skills in order to communicate
their view points and ideas with others. Also other skills includes management skills to manage
all the activities and problem solving skills and so on.
Skills needed by Customer Service employees
The customer services department ensure that the needs and wants of the customers is
satisfied, their main focus is retaining customers for long period of time. Some of the skills
required by the customers services employees in order to work effectively and smoothly includes
interpersonal skills, this skill enables the employees to maintain effective and long lasting
relationship with their target customers. Also communication skill is also essential in order to
communicate their ideas and view points with customers without any kind of misunderstanding
and they should also have adaptability skills.
Skills needed by Finance employees
The finance department ensures that there is availability finance or fund in each and
every department of the organisation in order to smoothly carry out their activity. The essential
skill required by the finance employees includes interpersonal skills, problem solving skills and
also theoretical knowledge of finance in order to handle the finance related problems. In addition
to this to effectively handle the finance related issues the employees should also have leadership
and relationship management skills also.
Skills needed by Research and Development employees
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The research and development department is continuously involved in doing research in
the market determining the current trends and changing preference of the customers (Szopinski,
Knackstedt and Kundisch,, 2020). The skills required by the research and development employee
includes analytical skills to find the right information and take the right decision also team
working skills is also essential in order to maintain collaboration among the team members and
achieve desired goals. Also communication and management skills is also important in order to
perform better.
Skills needed by Sales employees
In order to effectively perform the functions of the sale department and achieve desired
goals certain skills are very essential by the sales employees such as communication skills in
order to communicate their view point and ideas and make consumers aware of the product and
services (Wu, Weng, and Gotcher., 2020). Also active listening skills is also important for the
sales employees to listen to the complaints of customers.
Conclusion
Based on above report has been concluded the analysis that there are different functional
department that undertaking working towards accomplishment by measure the aims and
objectives. There are the main major functional areas helps in flexible operations of business that
also assists in prevention of fluctuation in activities for long term perspectives.
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References
Books and Journals
Carter, E.W., Awsumb, J.M., Schutz, M.A. and McMillan, E.D., 2021. Preparing youth for the
world of work: Educator perspectives on pre-employment transition services. Career
Development and Transition for Exceptional Individuals, 44(3), pp.161-173.
Malik, N., Tripathi, S.N., Kar, A.K. and Gupta, S., 2021. Impact of artificial intelligence on
employees working in industry 4.0 led organizations. International Journal of
Manpower.
Olsson, S. and Gustafsson, C., 2020. Employees' experiences of education and knowledge in
intellectual disability practice. Journal of Policy and Practice in Intellectual Disabilities,
17(3), pp.219-231.
Peñalba-Aguirrezabalaga, C., Sáenz, J., Ritala, P. and Vanhala, M., 2021. Putting knowledge to
work: the combined role of marketing and sales employees’ knowledge and motivation to
produce superior customer experiences. Journal of Knowledge Management.
Shmatko, N., Katchanov, Y. and Volkova, G., 2020. The value of PhD in the changing world of
work: Traditional and alternative research careers. Technological Forecasting and Social
Change, 152, p.119907.
Sopa, A., Asbari, M., Purwanto, A., Santoso, P.B., Mustofa, D.H., Maesaroh, S. and
Primahendra, R., 2020. Hard skills versus soft skills: Which are more important for
indonesian employees innovation capability. International Journal of Control and
Automation, 13(2), pp.156-175.
Szopinski, D., Schoormann, T., John, T., Knackstedt, R. and Kundisch, D., 2020. Software tools
for business model innovation: current state and future challenges. Electronic Markets,
30(3), pp.469-494.
Wu, T.H., Weng, S.J., Lin, Y.T., Kim, S.H. and Gotcher, D., 2020. Investigating the importance
and cognitive satisfaction attributes of service quality in restaurant business-a case study
of TASTy steakhouse in Taiwan. Journal of Foodservice Business Research, 23(4),
pp.26
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