Functional Areas of Business and Required Skills for Employees

FUNCTIONAL AREAS

Table of Contents
INTRODUCTION....................................................................................................................3
TASK.........................................................................................................................................3
Functional areas of business...................................................................................................3
Types of skills needed by employees to work effectively in functional areas.......................6
CONCLUSION.........................................................................................................................7
REFERENCES.........................................................................................................................8

INTRODUCTION
The functional areas of business management involve- strategy, marketing, finance,
human resource, technology, operations and equipment’s. This report will discuss different
functional areas of a business. The report will outline various skills and competencies which
are required to effectively perform in these functional areas.
TASK
Functional areas of business
Functional areas are team of employees who have similar skills and expertise
(Functional areas of business, 2021). In an organization or economic system where goods
and services are exchanged, there are various functional areas which are performed. The
processes which are performed by functional areas are known as business units. The function
performed within an organization can be majorly classified under operations, finance,
marketing/sales and R&D.
The different types of functional areas in a business are discussed below:
Human resource- The human resource department performs the functions of
recruiting new employees and meeting the vacant job position with specialized and
competent personnel. The functions performed by human resource department involves
recruitment and selection. The human resource department focuses on analyzing the
performance of their employees through which they can offer them required training and
development that can be helpful in shaping their skills and competencies to perform the
Management
Operations
Production
Supply chain
Finance
Accounting
Procurement
HR
Markeitng/ Sales
Markeitng
Sales
Customer Service
R&D
Development
IT