Functional Areas of Business: Importance and Skills Required

Functional Areas

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Functional Areas of a business refers to the different types of areas like Production, HR,
Finance, Sales, Marketing etc. in which a business can specialize and therefore can make sure
that the overall level of efficiency and effectiveness can be raised in the right manner properly
(Chen and et.al., 2017). This report will focus on IOM Electronics Ltd. It is a company which
will provide a wide range of electronic products to the different types of customers in the market.
In this report, detailed focus will be made on discussion of key business functions and the skills
which are required for working in these functions.
MAIN BODY
A Business refers to the conducting of a wide range of activities which are related with
the trading of different types of goods and services in the market (Jones, 2017). Thus IOM
Electronics Ltd. Is a business which will focus on ensuring that the trading of these particular
goods and services is carried out in the right manner effectively and efficiently to earn higher-
level of profits in the future.
Functional Areas of Business refers to the wide range of departments according to which
a business operates (Kaczmarek and Kociuba, 2017). A thorough analysis of these particular
areas can be quite helpful for the businesses to be able to ensure that they are able to effectively
and efficiently manage the wide range of needs and requirements in a proper manner which will
ensure that the attainment of goals and objectives in the short-term, medium-term and long-term
can be done. In the context of IOM Electronics Ltd. It is quite crucial that the following
functional areas are present in the business-
 Marketing- In this particular area, the marketing of goods which are produced by the
business is done in a proper manner which can be quite helpful in ensuring that the
business is able to attain specific goals and objectives (Solé and et.al., 2018). Here, the
strategies and techniques related to the products and services which are being provided
by the business can be applied which will help a lot in ensuring that the market
penetration can be carried out in a proper manner so that the marketing goals and
objectives can be achieved in the right manner. In IOM Electronics Ltd., this can be quite
helpful in ensuring that the company is able to focus on enhancing the overall level of
profits by using the right marketing techniques.
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