Functional Areas of Business: Key Areas and Skills Required

Functional areas

Table of Contents
1.0 Introduction................................................................................................................................1
2.0 What is business?.......................................................................................................................1
3.0 Functional areas of business......................................................................................................1
4.0 Determine what are the key functional areas of business?........................................................2
5.0 Description of the various functional areas in business organisation........................................2
5.1 Marketing.........................................................................................................................2
5.2 Human resource management..........................................................................................2
5.3 Customer service..............................................................................................................3
5.4 Finance.............................................................................................................................3
5.5 Research and development...............................................................................................3
5.6 Sales..................................................................................................................................3
6.0 Assess what are the different types of skills required by employees in order to work
effectively in these functional areas.................................................................................................4
6.1 Determine skills required by marketing employees.........................................................4
6.2 Assess what are the skills required by Human Resource Management employees.........4
6.3 Skills of Customer Service employees.............................................................................4
6.4 Skills needed by Finance employees................................................................................5
6.5 What are the skills required by Research and Development employees..........................5
6.6 Skills needed by Sales employees....................................................................................5
7.1 CONCLUSION..........................................................................................................................5
REFERENCES................................................................................................................................6

1.0 Introduction
A functional area is defined as an area where employees of organisation have to perform
different activities and functions in order to operate their business effectively. To perform
different functions in different functional areas they have to do them accordingly. In the given
report IOM Electronics Ltd. Is taken as a base company. This organisation is operated by John
who is an individual person for running their business smoothly so that they can accomplish their
objectives. They are working in two cities which are Liverpool and Manchester in these two
cities 200 employees are currently working. The report includes functional areas and different
skills needed to perform various functional areas in organisation.
2.0 What is business?
The term 'Business' means that an entity which is engaged to perform different types of
work which include professionals, businessman, industrialists and many other. Many people
develop their business whether to earn profit or to work socially (Ansoff and et.al., 2018).
Those organisation who do not want to earn money means either they are charitable trust or
social work. In simple words, it can be said that business means that organisation have to operate
their functions to distribute goods and services to customers in order to earn profit. With the
reference to IOM electronics Ltd., they are selling electronics goods to customer so that they can
achieve their set target which leads to increase the profitability level of organisation. As in this
200 employees are operating in two cities to produce electronic products to customer in
marketplace.
3.0 Functional areas of business
In business, functional area is an area which has different areas where they have to
operate their business in order to run their business smoothly in order to achieve business
objectives. In functional areas various people are involved from different department according
to their skills and knowledge to perform a work (Bjorvatn and Wald, 2018). Not only department
have different functions but different size of organisation also perform according to their
operations. Small organisation have only few employees to work as there are various activities
which include customer service, payments and queries related to particular product whereas large
organisation do not have such problems to perform their works because they have different
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