Functional Areas of Business and Skills Required by Employees

Functional Areas

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
What is Business..........................................................................................................................3
Functional Areas of Business - Definition...................................................................................3
Key Functional Areas of Business...............................................................................................3
Various Functional Areas in Business.........................................................................................4
Types of skills needed by employees to work effectively in their respective functional area.....5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................1

INTRODUCTION
Business Function refers to the set of activities performed by the business organisation in
order to attain the business objective. This functions helps to run organisation in effective
manner and help in serving best to its customers, stakeholders, shareholders and employees. It
plays a vital important role in performing the day-to-day business activity. As it provide
vocabulary and suggest the framework to perform the business activity.
The main aim of report is to consult John, who has decided to buy a local company
named IOM Electronics Ltd and which is going to be run by himself. It defines the key
functional areas as well as various functional areas like marketing, finance and other. Report also
suggest him about the skills required by the employee to work effectively in their respective
functional areas.
MAIN BODY
What is Business
Business refers to organisation or entity engaged in industrial, commercial or professional
activity. It can be both profit making entity or not for profit entity (Sheth, 2020). IOM
Electronics Ltd. Is the business entity involve in sales and service of essential electronics goods
as well as service at two sites Manchester and Liverpool.
Functional Areas of Business - Definition
Functional area of business refers to the person, group of person, area or department
which is involved in particular business function like sales, marketing or others. Teams of
employees who have similar skills and expertise work together in order to meet the goal of their
respective functional areas (Brown, 2018). For example: Finance department of organisation
look into the financial activity and to utilize the financial resources in effective manner.
Key Functional Areas of Business
Key functional areas of any business organisation are its general functional areas. Its
include; Finance, Human Resource, Marketing, Operation, Sales, Research and Development.
Each of the functional area carrier out the work or task related to their department. The main
purpose is to ensure that business activity should be performed in efficient way (LeMaster and
et.al, 2020).