Functional Areas of Business

This document provides an introduction to functional areas of business, including their definition and the key areas in a business organization. It also describes the various functional areas such as Human Resource Management, Customer Service, Finance, Research and Development, and Sales. Additionally, it discusses the skills needed by employees to work effectively in these functional areas. This study material is relevant to the BSc (Hons) Business Management course with the course code BMP3004 at Desklib University.

BSc (Hons) Business Management with
Foundation
BMP3004
World of Work
Functional Areas
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Contents
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Table of Contents
1.0 Introduction.........................................................................................................................2
2.0 What is a business?..........................................................................................................2
3.0 What is Functional areas of business –Definition ?.........................................................2
4.0 What are the key functional areas of a business?.............................................................3
5.0 Description of the various functional areas in business organizations............................3
5.2 Human Resource Management:.......................................................................................3
5.3 Customer Service:............................................................................................................3
5.4 Finance:............................................................................................................................3
5.5 Research and Development:.............................................................................................3
6.0 Description of the types of skills needed by employees..................................................4
to be able to work effectively in these functional areas.........................................................4
6.1 Skills needed by Marketing employees:..........................................................................4
6.2 Skills needed by Human Resource Management employees:..........................................4
6.3 Skills needed by Customer Service employees:...............................................................4
6.4 Skills needed by Finance employees:..............................................................................4
6.5 Skills needed by Research and Development employees:...............................................4
6.6 Skills needed by Sales employees:...................................................................................4
Conclusion..................................................................................................................................5
References..................................................................................................................................5
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1.0 Introduction
Functional areas are the groups of representatives who have comparative abilities and
aptitude. For instance, an organization is an outreach group is a typical practical territory of
the staff in this space that would all be centered as around to the manner of role of selling of
the organization's items. Functional areas are the department in the business who have similar
skills in the business they are various department in the business in which various skills are
required because in there are different activities which are performed in the business
according to which goals of the business will be achieved in the business. In the Functional
areas of the business helps in improving the services of the business so that goals of the
business can achieved affectively in the marketplace.
2.0 What is a business?
A business is get characterized as an association or ambitious components that are
occupied in the business term of the mechanical or as the proficient practice. Management
that can be drive out the substances of non-benefit terms of the associations that perform the
manner to satisfy a generous vision for further social sections. Business is the activity of
selling the goods and services so that profit can earned and basic needs of the economy can
be satisfied properly in the business. business helps in developing the growth of the economy
by satisfying the requirement of the economy in the market.
3.0 What is Functional areas of business –Definition ?
Various capacities in the functional areas that are performed and managed by various
sections and the capacities as inside to the business that are performed and controlled
by various pieces of the management. It is one of the basic orientation of the reason
for isolating business activities into the practical manner of the units is to allow each
to work as inside in the subject matter. Hence making the more section of the
productivity and profitability as across to the business in general form of the business.
There are various functional areas of the business which helps in increasing the
productivity of the business in the market so that profit can be increased. There are
various department in the business
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4.0 What are the key functional areas of a business?
As these process that are being completed by practical spaces of the business andthe
section that areto be segmented in the specialty units. As it is also termed as the size of
business, business divisions or units that are delegated with sort of the abilities and capacities
that have a particular concentration and a complete manner in the business as effectively.
5.0 Description of the various functional areas in business organizations
By promoting manner in the capacity that connects to the buyer, client and public to
the advertiser by source of information and data that areutilized to identify and characterize
showcasing openings and issues to create the refine and assess advertising activities as screen
advertising execution and improve comprehension of an advertising as the term of the cycle.
5.2 Human Resource Management:
Human Resource Management (HRM) is the essential way to deal with the powerful
administration with individuals in an organization or association to help their business section
with potential sections aseffectively. It is intended to strengthenthe representative execution
in the help of a business essential terms.
5.3 Customer Service:
Client care is termed as the manner that offer helps to their clients as to purchase and
utilize their items or administrations. By assists them with having a simple and agreeable
involvement in the company to grab the certain deals. By offering amazing client assistance
is a significant manner that need to grab the clients and develop the business of management.
5.4 Finance:
Finance is the term for issue in respect to the administration and their manner of the
creation and role of purpose of the cash and speculations in the business.
5.5 Research and Development:
It is the manner of the arrangement of creative exercises that are embraced by
organizations or the governments in a growing manner new administrations or items and
improving existing ones.
5.6 Sales:
Sales that are exercise and get identified with selling or the quantity of the products
that are sold in the given manner as per to the time frame. The conveyance of an assistance
for an expense is additionally viewed as a sale in the business.
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6.0 Description of the types of skills needed by employees
to be able to work effectively in these functional areas
6.1 Skills needed by Marketing employees:
There are various skills are required for marketing employees to perform all functions
in effective manner such as effective communication, interpersonal skills, maintain
the attitude of lifelong learning, proper knowledge of marketing strategies and
models to perform in proper manner.
6.2 Skills needed by Human Resource Management employees:
As human resource management is very important for the organization to hire and select
effective and suitable to perform all task in effective manner. There are various skills such as
communication skills, HRM knowledge and expertise, knowledge of recruitment and
selection, analytical skills and teamwork.
6.3 Skills needed by Customer Service employees:
There are various customer services skills are required for employees such as proper
knowledge about products, time management, acting skills as well as ability to read to
customers and influence them in effective manner.
6.4 Skills needed by Finance employees:
Finance employees required various skills and competencies such as analytical skills,
interpersonal skills, understanding of industry technologies, management of finance, critical
thinking and problem-solving skills in order to perform all financial functions
6.5 Skills needed by Research and Development employees:
There are various skills are required to perform all research and development work such as
ability to handle largest database, analytical thinking and critical problem-solving and time
management as well as teamwork
6.6 Skills needed by Sales employees:
There are communication, social selling, active listening, objection handling, prospecting,
judgement, negotiation skills are required.
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Conclusion
From the above report, it can be concluded that organization has various functional areas are
performed in order to run business in efficient manner. There are various other skills are
required for employees to perform all functions of business in effective manner.
References
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