BMP3004 World of Work: Functional Areas in Business - IOM Report

This report provides an analysis of functional areas within a business context, specifically focusing on IOM Electronics Ltd. It defines what a business is and elaborates on key functional areas such as marketing, human resource management, customer service, finance, research and development, and sales. The report details the skills required by employees in each functional area, including interpersonal, analytical, communication, and technical skills. It emphasizes the importance of each department working together to achieve organizational goals and ensure long-term growth. The report concludes that a successful business relies on the effective collaboration and skilled employees within these functional areas to drive productivity and enhance the company's image.

B Sc (Hons) Business Management with Foundation
BMP3004
World of Work Individual Report
Functional Areas
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Table of Contents
1.0 INTRODUCTION.....................................................................................................................3
MAIN BODY...................................................................................................................................3
2.0 What is a business?....................................................................................................................3
3.0 What are is business functional areas?.......................................................................................3
4.0 What are the key business functional areas?..............................................................................4
5.0 Elaborate various functional areas in business organisation......................................................4
5.1 Marketing:........................................................................................................................4
5.2 Human Resource Management:.......................................................................................4
5.3 Customer Service:............................................................................................................4
5.4 Finance:............................................................................................................................5
5.5 Research and Development:.............................................................................................5
5.6 Sales..................................................................................................................................5
6.0 Types of skills required by the employees in functional area ...................................................5
6.1 Skills required by Marketing Employees.........................................................................5
6.2 Skills required by Human Resource Management employees:........................................6
6.3 Skills needed by Customer Service employees:...............................................................6
6.4 Skills required by Finance employees:.............................................................................6
6.5 Skills required by Research and Development employees:.............................................6
6.6 Skills required by Sales employees:.................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

1.0 INTRODUCTION
Business operations mainly refers to activities which businesses involves in on day to day
life or daily basis to enhance the value and brand name of the enterprise which would bring
fecundity to the enterprise. The functional areas in business market management which includes
marketing strategies, human resource and assets, related technologies and equipments with
efficient functionality etc. aids in successful conduction of the business operations and are very
crucial for related activities within the organisation (Aggarwal and Wu, 2019). These
accomplishment and better understanding of the functional areas of business management
assures the business growth and development. This report is directed to determine the key
functions of business and related skills that is required to drive the organisation. In this case
study, John's analysis is being elaborated where he decided to own a local firm, IOM Electronics
Ltd., so that he runs it with solely ownership (Boon and et. al., 2019).
MAIN BODY
2.0 What is a business?
A business refers to an organisation or enterprise that is involved in the commercial,
industrial, any sort of professional activities. A business is an enterprise which engages with the
sale of products and services where masses work together to aid the enterprise's fecundity. In
regards with the given report, John decided to own a local firm IOM Electronics Ltd. The firm is
a well known territorial firm comprised of 200 employees that is based on the two sites of the
nation which is Liverpool and Manchester (Civelek and et. al., 2021).
3.0 What are is business functional areas?
In any organisation, they involve various kinds and types of functional areas that fosters
and aids in assuring the crucial business activities are held and being undertaken efficiently
within the organisation. Functional areas including operations, marketing, finance and
management can be accomplished by the organisation by working together and focussing more
on the desired goals of IOM Electronics Ltd. Every department is interconnected and is reliable
to each other so that operations should be managed in ways that an organisation is able to fulfil
the goals of the functional areas efficiently (Ejsmont, 2021).

4.0 What are the key business functional areas?
Functional areas of business management generally includes strategy, marketing, finance,
technology and related equipments, human resources, and operations. IOM Electronics Ltd.
Includes functional areas that fosters the organisation to successfully accomplish and acquire
responsibilities and roles efficiently within the organisation by creating a brand image and value
in the business world. These functional areas of the business management of the organisation
brings fecundity and success to the organisation.
5.0 Elaborate various functional areas in business organisation
5.1 Marketing:
Marketing is considered as the crucial functional area of the business which involves IOM
Electronics Ltd marketing and services (Jia and et. al., 2018). This part of functional area is
solely devoted to handle operations that are related to sales forecasting, any consumer care and
support, handling sales order, advertising and promotion of goods and services by the means of
various advertisement techniques and technologies.
5.2 Human Resource Management:
Human resource management refers to the most crucial functional area within the organisation
with regards to business management. In IOM Electronics Ltd., it's very crucial for John to
recruit potential employees to his firm so that it runs very effectively and efficiently and fosters
the company's growth and development. For further processes, efficient managers will be
required to determine the potential assets for the company as they are responsible to attract the
extraordinary and talented individuals within the firm. This part of functional area is responsible
in attracting, selecting and offering training for related development opportunities to employees
by pulling off their demands and necessity (Kasaev and et. al., 2019).
5.3 Customer Service:
Customer services is related to fulfilling the requirements of the customers by interacting with
them in IOM Electronics Ltd. in order to provide them rich quality consumer services. This
functional area undertakes the responsibility of answering inquiries, processing of orders,
addressing consumer ailments and concerns. This process helps the consumers in providing high
satisfaction in time and building trust by resolving issues related to customers services. This
fosters retaining of consumers for a longer period of time.

5.4 Finance:
In functional area, finance plays very important role in conducting business management.
Finance is a lifeblood to the organisation (Nalawade and et. al., 2019). With regards to IOM
Electronics Ltd., it is determined that finance associates holds a very crucial role and
responsibility in accounting operations. The activities related to accounting and finance that is
comprehensive of financial accounting, their planning and related budgeting cost allotment with
control of cash management is a crucial part of financial functional area of the business
management.
5.5 Research and Development:
Research and development is considered as the most crucial and major part of the functional
areas within IOM Electronics Ltd. as this is responsible in determining strengths and weaknesses
of the organisation. Analysing of trends with necessities of the consumers is the main part of
responsibilities that are related to the functional areas of the business management. Strong
investigation, related development in functional area can help John in introducing various new
services having creative ideologies which ensures long term sustainability (Nawaz and Koç,
2019).
5.6 Sales
Sales is considered as the crucial functional unit of the organisation as it includes sales
forecasting. This department of IOM Electronics Ltd. of business management is responsible in
determining customer's unique necessities and making sure that they are efficiently fulfilling the
desired objectives in time. A successful sales team have the capability to foster interaction rate
with the consumers.
6.0 Types of skills required by the employees in functional area
6.1 Skills required by Marketing Employees
Skills are the prime aspect where an organisation can foster rapidly and reach the heights in very
less time by bringing value. Marketing employees in IOM Electronics Ltd. are the employees
that has skills and holds responsibilities which brings employee's interpersonal skills, their
creativity abilities, analytical and hypothetical problems solving abilities, good communication,
sound consumer knowledge, team management, digital advertising skills, critical thinking etc.

6.2 Skills required by Human Resource Management employees:
Human resource activities involves executing skills by having sound communication skills, work
flexibility, patience in responsibilities, negotiations and welfare, HRM knowledge and related
expertise, HR strategies, prioritising digital advertising etc. These are the skills that a human
resource management team holds and they're accountable in processing their roles and
responsibilities efficiently for the IOM Electronics Ltd.
6.3 Skills needed by Customer Service employees:
Consumer service employee is accountable for pointing connection between the IOM Electronics
Ltd. and their customers. These employees are skilled with weighty speaking skills, related
adaptabilities, sympathy towards their consumer, abilities to utilize positive and effective
languages, sound communication skills which holds patience, taking responsibilities effectively,
maintaining self control and etc. These skills of a customer service employee aids in
accomplishing the consumer services department's desired objectives efficiently (Ritter and
Pedersen, 2020).
6.4 Skills required by Finance employees:
Finance employee is accountable for controlling of properties, maintaining accurate daily
transactions records, preparing balance sheets etc. in the functional area, employees requires
certain skills that includes interpersonal skills, abilities of problem solving and analytical skills,
expertise in analysis etc. These skills of the employees fosters the finance department's work
management effectively in IOM Electronics Ltd.
6.5 Skills required by Research and Development employees:
Research and development department is crucial role within the organisation. In this functional
area, employees acquired by certain skills including sound communication skills, analytical and
reasoning skills etc. These skills plays a crucial role in accomplishing responsibilities of research
and development effectively of IOM Electronics Ltd.
6.6 Skills required by Sales employees:
Sales employees is responsible for selling products and meeting their consumer's necessities
while receiving orders from existing sale places and outlets (Sousa and Rocha, 2019).. Sales
employees are acquired to have certain qualities and skills which includes confidence in
maintaining positive attitude to communicate with their consumers. Active listening skills with

time management skill, etc. and these skills aids in effective performance within IOM
Electronics Ltd.
CONCLUSION
From the above mentioned report, it can be conferred that for a successful driven business
activities, functional areas in the IOM Electronics Ltd. Shows crucial skills that is acquired by
the business owner John within the firm. These functional area such as human resource,
marketing, consumer service, finance, sales and research and development departments are
working together and efficiently. These factors fosters the long term growth surety and
conduction of various types of responsibilities effectively. The organisation must abide by the
employees of the department's skills and those skills are required to foster the organisational
growth in business market. The consumers employees and the human resource employees are
accountable for maintaining the responsibilities and roles of the firm in efficient pull of the
operations and functionality. Different departments and their advanced skills fosters the
organisational development and growth in a less time period. This results in the fast growth and
fecundity to the organisational image.

REFERENCES
Books and Journals
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of Teaching in International Business, 30(4), pp.309-313.
Boon, C., Den Hartog, D.N. and Lepak, D.P., 2019. A systematic review of human resource
management systems and their measurement. Journal of management, 45(6), pp.2498-
2537.
Civelek, M., KLJUČNİKOV, A., KMECO, Ľ. and Hamarneh, I., 2021. The Influences of the
Usage of Marketing Communication Tools on Innovations of the Functional Areas of
Businesses: Perspectives for the Mining Industry. Acta Montanistica Slovaca, 26(4).
Ejsmont, K., 2021. The Impact of Industry 4.0 on Employees—Insights from
Australia. Sustainability, 13(6), p.3095.
Jia, Q., Guo, Y., Li, R., Li, Y. and Chen, Y., 2018. A conceptual artificial intelligence
application framework in human resource management.
Kasaev, B.S., Petrovskaya, M.V. and Kasaev, M.B., 2019. Innovative approaches to business
managing functional areas in a territory. Industrial Engineering & Management
Systems, 18(3), pp.440-453.
Nalawade, R.K., More, D.K. and Bhola, S.S., 2019. Employability skills required for functional
areas of management. IUP Journal of Soft Skills, 13(1), pp.20-44.
Nawaz, W. and Koç, M., 2019. Exploring organizational sustainability: Themes, functional
areas, and best practices. Sustainability, 11(16), p.4307.
Ritter, T. and Pedersen, C.L., 2020. Digitization capability and the digitalization of business
models in business-to-business firms: Past, present, and future. Industrial Marketing
Management, 86, pp.180-190.
Sousa, M.J. and Rocha, Á., 2019. Skills for disruptive digital business. Journal of Business
Research, 94, pp.257-263.