Functional Areas of Business: Importance and Skills Required

This report discusses the importance of functional areas in a business and the skills required for each area. It focuses on IOM Electronics Ltd. and explores departments like marketing, HR, finance, customer service, research and development, and sales. The report highlights how these areas contribute to the overall efficiency and effectiveness of the business.

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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 Human Resource Management- In this particular area, the focus is put on ensuring that
the management of different types of Human Resources is done in a proper manner. In
the various types of organisations this can be useful in raising the overall bar of
efficiency as well as effectiveness so that the attainment of the various types of HR goals
and objectives can be done. In the context of IOM Electronics Ltd., this can help a lot in
ensuring that the different types of HR goals and objectives can be set and can be attained
in a proper manner.
 Customer Service- In this particular area, the focus is put on ensuring that the different
types of customers are provided good service (Wan and et.al., 2016). Thus the companies
are required to create this particular department for the purpose of serving the customers
and raising their overall satisfaction level. Also the organisations can use it to ensure that
the various types of problems and issues which are being faced by the customers can be
identified quickly and a resolution to them can be found out easily. In IOM Electronics
Ltd., this can be quite helpful in ensuring that the company is able to fully satisfy its
different types of customers quite effectively and efficiently in the right manner.
 Finance- In this particular area, the focus is put on the management of funds in a proper
manner which can help a lot in making the best use of the funds which are available with
the organisation effectively and efficiently (Wang, Lu and Pan, 2016). Thus for the
organisations the use of this department is important to raise the overall bar of efficiency
and effectiveness in the management of funds. If the funds are used in the right manner it
will be quite helpful in ensuring that they can be grown in the right way in the future. In
the context of IOM Electronics Ltd., a specific focus is required on ensuring that the
management of a wide range of funds is done effectively and efficiently so that their use
can help in the attainment of the various types of goals and objectives.
 Research and Development- In this area, the focus is put on ensuring that the use of
R&D techniques is made in the right manner so that the business is able to find out
creative and innovative ways of providing a wide range of products and services to the
customers in the market (Wang, Bai and Wang, 2016). Thus the companies can make its
use for the purpose of ensuring that they are able to effectively and efficiently identify a
wide range of needs and requirements of the customers in the future and develop the
products and services accordingly. This department is tasked with ensuring that the
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Creativity and Innovation can be used properly so that the R&D tools and techniques can
be applied effectively and efficiently for developing new products and services. In IOM
Electronics Ltd., the focus is put on ensuring that its use is made in a proper manner so
that the company can make sure to attain the desired strategic and competitive advantage
in the future effectively and efficiently.
 Sales- In this area, the focus is put on ensuring that the use of appropriate skills and
techniques can be made so that the level of sales in the organisation can be enhanced in
the right manner. Thus the companies can make sure that they are able to increase the
sales by making the use of appropriate methods and techniques. Thus this department is
tasked with ensuring that the level of sales in the various types of organisations can be
raised. In the context of IOM Electronics Ltd., it is quite important that the focus is put on
this area which will be quite helpful in ensuring that the overall level of revenues can be
enhanced.
There are different types of skills which are required by the employees so that they are able to
work effectively in these functional areas. The skills are explained as follows for IOM
Electronics Ltd.-
Skills needed by Marketing employees- Wide range of skills are also required to be used by the
Marketing employees so that they are able to effectively and efficiently work in the right manner
for the attainment of the Marketing goals and objectives. Some of the skills which are required
by them are explained as follows-
 Communication skills
 Analytical skills
 Interpretation skills
 Creativity and Imagination skills
Skills needed by Human Resource Management employees- Different types of skills have to
be used by the Human Resource Management employees because in this area, the management
of the different types of employees takes place. Therefore, it is quite important that they possess
the following skills-
 Communication
 Flexibility
 Management Experience
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 Commercial acumen
Skills needed by customer service employees- Customer Service is an important department in
the organisations because in it various types of steps are taken in order to ensure that the
customers are served properly. Thus it is quite important that the employees in this department
possess the following skills-
 Persuasive Speaking Skills
 Adaptability
 Communication Skills
 Patience
Skills needed by Finance employees- Finance is a very important department in the
organisations because in it the workers can make sure that they are able to control the flow of
funds within the organisation in the right manner. Thus it becomes quite important for these
employees that they possess the following skills-
 Interpersonal Skills
 Communication Skills
 Financial Reporting Skills
 Analytical Ability
Skills needed by Research and Development employees- R&D is a very important area in the
businesses because it can help them a lot to be able to take the right decisions related to the
investment of funds. Thus it becomes quite important for the various types of employees
working here that they have the following type of skills-
 Analytical Skills
 Interpretation Skills
 Communication Skills
 Reasoning Skills
Skills needed in Sales employees- The employees who are working in Sales department of an
organisation are required to make sure that they are able to develop their particular skills and
abilities effectively and efficiently for the purpose of increasing the level of sales in the
organisation (Wu and et.al., 2019). Therefore it is quite important that the employees who are
working in the Sales Department have the following skills-
 Confidence
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 Persuasion Skills
 Active Listening Skills
 Promotional Skills
CONCLUSION
From the above report, it can be concluded that Functional Areas of the business are quite
important to be considered by them so that the overall bar of efficiency and effectiveness can be
raised. There are different types of Functional Areas which are present within a business. There
are also various types of skills which are required from the employees so that they are able to
effectively and efficiently manage their wide range of needs and requirements and can attain the
goals and objectives of the organisation by working at their best in the different types of
departments of the organisation.
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REFERENCES
Books and Journals:
Chen, Y. and et.al., 2017. Delineating urban functional areas with building-level social media
data: A dynamic time warping (DTW) distance based k-medoids method. Landscape
and Urban Planning. 160. pp.48-60.
Jones, C., 2017. Spatial economy and the geography of functional economic areas. Environment
and Planning B: Urban Analytics and City Science. 44(3). pp.486-503.
Kaczmarek, T. and Kociuba, D., 2017. Models of governance in the urban functional areas:
Policy lessons from the implementation of integrated territorial investments (ITIs) in
Poland. Quaestiones Geographicae. 36(4). pp.47-64.
Solé, B. and et.al., 2018. Heterogeneity of functional outcomes in patients with bipolar disorder:
a cluster‐analytic approach. Acta Psychiatrica Scandinavica. 137(6). pp.516-527.
Wan, D. and et.al., 2016. Heavy metal pollution in settled dust associated with different urban
functional areas in a heavily air-polluted city in North China. International journal of
environmental research and public health. 13(11). p.1119.
Wang, Q., Lu, X. and Pan, H., 2016. Analysis of heavy metals in the re-suspended road dusts
from different functional areas in Xi’an, China. Environmental Science and Pollution
Research. 23(19). pp.19838-19846.
Wang, Y. Q., Bai, Y. R. and Wang, J. Y., 2016. Distribution of urban soil heavy metal and
pollution evaluation in different functional zones of Yinchuan city. Huan jing ke xue=
Huanjing kexue. 37(2). pp.710-716.
Wu, L. and et.al., 2019. Seasonal levels, sources, and health risks of heavy metals in atmospheric
PM2. 5 from four functional areas of Nanjing city, eastern China. Atmosphere. 10(7).
p.419.
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