BSc Business Management BMP3004: Functional Areas Analysis

This report provides a comprehensive overview of the key functional areas within a business, emphasizing their vital role in organizational success. It defines a business as an entity engaged in profit-seeking activities and identifies six primary functional areas: marketing, finance, human resources, technology and equipment, strategy, and operations. The report then delves into specific areas such as marketing, highlighting its importance in setting goals and implementing effective strategies; human resource management, focusing on employee recruitment, development, and workplace dignity; customer service, emphasizing customer retention and issue resolution; finance, underlining its role in determining funding needs and providing financial solutions; research and development, detailing its contribution to market insights and process improvement; and sales, stressing the development of customer loyalty and effective product presentation. Furthermore, the report outlines the essential skills required for employees in each functional area, including communication, problem-solving, cultural awareness, analytical abilities, and product knowledge. It concludes that a well-integrated approach to these functional areas is crucial for creating a productive workplace culture and achieving organizational objectives, with Desklib providing resources for further learning.

BSc (Hons) Business Management with
Foundation
BMP3004
World of Work
Functional Areas
Submitted by:
Name:
ID:
Contents
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1.0 Introduction p
2.0 What is a business? p
3.0 What is Functional areas of business – Definition
p
4.0 What are the key functional areas of a business?
P
5.0 Description of the various functional areas in business
organizations p-p
5.1 Marketing p
5.2 Human Resource Management p
5.3 Customer Service p
5.4 Finance p
5.5 Research and Development p
5.6 Sales p
6.0 Description of the types of skills needed by employees
to be able to work effectively in these functional areas
p-p
6.1 Skills needed by Marketing employees p
6.2 Skills needed by Human Resource Management employees
p
6.3 Skills needed by Customer Service employees
p
6.4 Skills needed by Finance employees p
6.5 Skills needed by Research and Development employees
p
6.6 Skills needed by Sales employees p
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7.0 Conclusion p
References p
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1.0 Introduction
Functional areas place one of the vital role in the organization function as it
assist the management in order to perform or carried out all the derived activities
more efficiently. Through the mentioned function organization achieve its aim and
objectives more efficiently as well as derive the reliable pathway through which
organization improvise their growth in the competitive market. In addition to this the
respected report will analyze the various key functional areas through which and
organization or new business can perform their functions more smoothly. Therefore,
it will assist respected firm to evaluate their business function and develop more
effective marketing plan (Monden, and Talbot, 2019).
2.0 What is a business?
A business is the inclusion of various effective activities that performed by the
organization in order to earn the profit. Through the effective operational function
with the help of management team businesses increase their product and services in
the optional market and creates more opportunities for their future attributes.
3.0 What is Functional areas of business - Definition
Generally there are 6 type of functional areas in a business which highlights
marketing, finance, human resource, technology and equipments, strategy and
operations. In regard to this all the manager of an organization adhere all these
functional areas in their plan to create more effective research that can be used in
develop more effective practices in the target market and attract more customer
towards the individual business.
4.0 What are the key functional areas of a business?
By the use of above functional areas in the organization, assess the businesses to
perform more effective function in the competitive market and develop more
opportunities through which they can create more effective mission statement. One
of the main key functional areas are marketing, human resource, research and
development and finance (Castelo-Branco, Cruz-Jesus, and Oliveira, 2019).
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5.0 Description of the various functional areas in business
organizations
5.1 Marketing:
Marketing assist the organization in order to set their goals as well as use the
effective marketing strategies that highlights the organization products and services
in the target market. Moreover it focuses on evolving the reputation of an
organization in the competitive market as well as said their clear goals and
objectives according to the employee skills that further can be used in achieving the
target. Therefore, by the use of effective marketing, businesses deliver more
effective product or services according to their customer needs and demand.
5.2 Human Resource Management:
Human resource management plays one of the vital role as they hire and maintain
the employees according to the organization functions. In addition to this the mention
management ensures that each employees offers there complete efforts in the
organization function. In addition to this they create more effective pathway in which
each employee get the maximum opportunities for their personal development as
well as they maintain dignity at the workplace. In addition to this through there
effective task and practices an organization got the opportunity to create healthy
relationship between individual and work groups. Therefore by the use of mentioned
management the respected firm can easily create an effective team that can further
assist in achieving their aims and mission.
5.3 Customer Service:
Customer service focuses on retaining the customers in the organization function. By
their effective communication skills and empathy customer get more attracted
towards the organization function. Hence, skillful customer service employee can
assist the organization towards developing there strong band image by offering the
solutions to all the issues that faced by customers in their after sales services.
5.4 Finance:
Financial management plays one of the vital role as they assist the organization in
order to determine what or how much funds is needed to perform a specific task
according to their mission and visions. In addition to this through their analytical skills
they specified the current situation of the organization as well as offers them solution
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to eliminate the financial issues from their functions. Therefore through such
practices and organization can easily determine their business strategies as well as
can create more effective financial plan that will surely assist them in order to
achieve more growth and competitive advantage.
5.5 Research and Development:
The meaning of the research and development department Is to collect the liable
insights from the target market and use these insights in order to create more
effective and efficient processes bye filtering the large number of big details
according to the organization functions. By the help of the mentioned department an
organization can easily increase their operational functions by decreasing their
operational cost. Moreover it also offers the insights in regard to the gap that
customer wants to fill by an effective product. Therefore by the use of mentioned
management and organization can create new products and services that can assist
them in order to thrive in the competitive market.
5.6 Sales:
Sales department assist the organization in order to create the loyalty
and trust between customer and business. The mentioned management
team present the product more effectively in the target market through
there effective communication skills. They attract the customers towards
the the right product bye offering them top notch customer service
experiences.
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 some top marketing soft skill which every marketing ploy should have in
their personalities to pitch the organization functions more effectively in the target
market. Skills such as communication, creative and problem solving, interpersonal
skills and leaderships are some of the common skills which is necessary in an
employee. By the use of effective communication skills assist an employee to
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develop strong bond with an audience and convey the clear concept of their
businesses in the operational market.
6.2 Skills needed by Human Resource Management employees:
Human resource management should have the cultural awareness and sensitivity
according to the organization function in order to recruit more ideal individual
according to the organization functions. In addition to this, they should have the great
command over technology which card assess them in order to manage their
operational function more effectively. By the use of technology unemployed can
manage remote and hybrid international teams more efficiently.
6.3 Skills needed by Customer Service employees:
An effective customer service employees has the skills in order to develop more
effective relationship with their customers as well as showcases on solving their
concerns through there adaptability and clear communication skills. Moreover these
skills assess them in order to understand their problems and form more effective
solutions by interpreting the current situations. Therefore it assist the organization in
order to create more effective brand image in the operational market as well as
attract the number of potential customers towards making them loyal one.
6.4 Skills needed by Finance employees:
A finance employee Should have the desire to innovate according to the Financial
condition of the organization. In addition to this, And effective finance employees
always have the analytical skills Which assist them in order to create the more
effective balance sheets as well as p&L Which further used in creating more effective
And realistic financial plan. These plans Gives the Clear vision to the organization in
order to attain their futuristic Aims and objectives in the competitive market.
6.5 Skills needed by Research and Development employees:
And effective research and development employees have the skills of verbal
communications. Such mentioned skills assist them in order to attain the Reliable
insights from the target market. In addition to this these insights further used in
creating the new product or improvising the existing product according to the
customer needs and demands. In addition to this The ability of Initiative also plays
one of the vital role, as-it facilitate in order to Take more efficient Initiatives According
to the Condition Of the interpreted market. Another skills that should be Have
enough Research and development department It’s to Have the time management
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skills. By the mentioned skills all the derived function can be effectively Deploy in the
organization function according to the drive plan. Therefore by taking the Early
initiative Assist the organization in order to Take the competitive advantage In the
operational market.
6.6 Skills needed by Sales employees:
A sales employee have the Detailed Product knowledge Which they Highlighting in
the target market. By having the detailed knowledge of the product assist them in
order to develop more Effective relationship with the potential customers as well as
Offers them real specification with integrity that the mention product Could fulfill Their
requirement. Another skills that plays one of the vital role is active listening skills,
Through the mentioned skills An individual can understand the concern party Needs
Or issues Ted further can be utilised in Improvising there Develop plan (Shams,and
et.al., 2018).
Conclusion
From the analysis of above report it is clearly stated that an organization need
several functional areas to perform their operational function more effectively in the
target market. In addition to this various functional areas were derived in the above
discussion such as Human resource management, Sales department, Marketing
department Etc. In addition to this various skills were also interpreted which is
required In an employee to More effectively In the operational market. These skills
are Such as communication skills, Interpersonal skills, Time management skills.
Therefore by the use of these Integrated and reliable functional areas the respected
organization can create more productive workplace culture as well as can create
More Realistic Business plan Which Can assist them To achieve their aims and
objectives More Efficiently.
References
Monden, and Talbot, 2019. The Toyota management system: linking the seven key
functional areas. Routledge.
Castelo-Branco, Cruz-Jesus, and Oliveira, 2019. Assessing Industry 4.0 readiness
in manufacturing: Evidence for the European Union. Computers in Industry, 107,
pp.22-32.
Shams,and et.al., 2018. An integrated cross-functional model of strategic innovation
management in business: The implications of ten cross-functional business areas.
In Business Models for Strategic Innovation (pp. 176-187). Routledge.
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