Various Functional Areas of Business and Skills Needed by Employees

World of work

Table of Contents
INTRODUCTION ..........................................................................................................................3
1 various functional areas of business ........................................................................................3
2 Skills needed by the employees to work in functional department .........................................5
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................7

INTRODUCTION
Functional area of business involves, finance, human resources, strategies, technologies,
and operations, though which the business can run perfectly. This report speaks about a local
company called IOM electronics ltd, which has presence in Manchester and Liverpool. In this
report, various functional areas of business has been defined. Besides this what qualities are
being needed in the employees to perform these business functions have been elaborated in this
report.
1 various functional areas of business
Functional areas are the backbone of any company, without these functions business
can't accomplish its goals and the business get failed to impose its strategies and polices in the
business (Nalawade, More and Bhola, 2019). As per the case study, John has to be aware about
the different functional areas of business.
Human resource
It is the most important and well known department of any organisation or company. This
function of business works for the hiring, recruitment and do the staffing for the company. But
the very important function of this department is to make sure that they hire right candidate for
the right department. They have to ensure that the person who the HR department is recruiting
must have all the skills, qualification, knowledge and eligibility for the post. Beside these, HR
department has to look after the compensation, well-fare and safety of the employees. They have
to provide them appropriate training top the new and existing employees as well so that they can
enhance their efficiency and perform their job effectively.
Finance department
This department is known to be the lifeblood of any department because they take care
about all the matter of the business which are related to money. Without this department business
can't operate its day to day activities (Eriksson, Robertson and Näppä, 2020). The two major
jobs which this department do is that they manage all the money which is coming into the
business and also manages the money which is going out from the business. Aside from this,
finance department make budget and forecast about the expenses of the company as well. In the