Analysis of Business Functional Areas, Skills and Employee Needs

This report provides an overview of the key functional areas within a business, including marketing, human resources, customer service, finance, research and development, and sales. It details the roles and responsibilities of each area and the skills required for employees to succeed. The report emphasizes the importance of marketing in promoting products, human resource management in managing employees, customer service in retaining customers, finance in managing resources, research and development in innovation, and sales in driving revenue. It highlights the need for skills such as communication, analytical abilities, teamwork, and financial knowledge across various departments. The report concludes by stressing the significance of these functional areas in enhancing a company's overall value and competitiveness in the market. This assignment is available on Desklib, a platform offering AI-based study tools for students.

Business

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
What is a business........................................................................................................................1
What are functional areas of business.........................................................................................1
What are the key functional areas of a business..........................................................................2
Description of various functional areas in business organisations..............................................2
Types of skills needed through Employees.................................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Decisions about ways to leverage business strategies to give items to clients who demand
diverse employees to work in various careers within the same business (Chen and Bellavitis,
2020). Since a corporation's scope and complexity expand, as should it emphasis mostly on
difficulties of its commercial district. It also encourages the formation of financial institutions
within organisations. Each functional area, in principle, contributes something distinctive and
valuable to the entire success of the company. These report addressed the multiple management
processes which are essential to businesses, and the competencies needed of personnel in order
to better implement the product and service categories into some other commodity.
MAIN BODY
What is a business
Business is described as a socio-political framework in which services and resources are
transferred for money or revenue. Additionally, it is a contractual arrangement with the primary
goal of increasing financial performance by considering a thorough line of treatment in
combination with competitive initiatives.
What are functional areas of business
Levels of functioning are groups of individuals with comparable experience and
competencies. A corporation's marketing department, for instance, is a similar application sector,
and the workers in this neighbourhood are all based on producing the firm's services.
Organizations structure themselves by business functions for a myriad of purposes. For starters,
it is more economical to put employees having comparable abilities alongside. Employees may
readily collaborate on tasks that require their skills and have alternative knowledge if one of the
employees has been unable to accomplish their assignment. For instance, if a corporation is
planning to establish a new machine in its network infrastructure, it will most probably require
various distinct cyber security personnel participating in the operation. Since they all operate in
same knowledge structure, a single customer may allocate employees all to the task to ensure
that it is finished on schedule. Functioning sub domains could be thought of as a group of people
who has also proven important to a company and hold common abilities, competencies,
capabilities, and expertise. In this connection, this one has been determined that each and every

company is composed of functional sections that collaborate and communicate in ways to
construct lucrative results for the company (Chesbrough, 2019).
What are the key functional areas of a business
All organizations working within the economy's limits are integrated into a group of
persons based on the duties individuals perform. The goal of this structure is to upgrade the
framework for corporate activities to the level of organizations. Additionally, this is required for
just about any applicant's smooth operations in market segments. Furthermore, it has been
revealed that advertising, accountancy, strategic planning, and other firm functional structure are
one of the most common. There really are numerous additional functional realms related with the
firm, because those include the areas that would be most critical to an organization and so shape
the entity's effectiveness.
Description of various functional areas in business organisations
Marketing- Promotion is one of the common business categories that include business
sales including the exchange of commodities and activities. In this aspect, it is obvious that
wealth has an important role within a very corporation as it aids in the buying and marketing of
securities. Also, this should be remembered that the primary goal of any corporation is to reach
income proportions because the firm would be unable to survive for a prolonged period of years
sans these. Furthermore, it has been shown that firms typically do not thrive in the absence of
successful marketing methods. Furthermore, marketing strategies allow them to engage with
clients while also garnering international attention, which aids in the achievement of the
institution's aims. Furthermore, the management team is critical for promoting items and
producing income that contributes to the company development (Guizzardi, Guarino and
Almeida, 2016).
Human resource management- Capital investment management is a collection of
functional areas which are largely in charge of managing a firm’s employees. Furthermore, the
central aim of the each department is to enhance the connection between both the superiors and
subordinates such that personnel are committed to attaining business aims and ambitions. The
human resources section, on the other hand, needs to recruit for the business. Directors, in
particularly, should guarantee that employees hired for the business have the requisite skills,
competence, and qualifications. In reality, the personnel in command of capital investment
functional areas focus on identifying various actions that will assist companies in achieving

industry durability. Evaluation system, hiring, training, as well as other HRM activities that have
a substantial influence on workers as well as the ability to increase organizational excellence and
efficiency are just few instances. As a consequence, achieving the corporation's or workers'
objectives in the provided time is simple.
Customer service- Client services is a key organizational industry made for individuals
who desire continue providing support to clients. Furthermore, the purpose of all firm industry in
the country is to assist to customer delight among consumers in time to retain customers with
both the business for lengthy stretches of duration in the foreseeable. As a consequence, many
organizations keep the employees at the centre of the process at all times and take all necessary
means to keep them happy. Furthermore, it is common for viewers to have questions or concerns
with both the latest sales. In this structure, client service functional units respond rapidly aim of
providing assistance to specific clients when problems may be remedied immediately. It also
assists them in maintaining a committed customer foundation whilst drawing new models to the
firm.
Finance- All organizations' economic operational sections are in terms of carrying
government resources. Furthermore, multiple binding industries are accountable for devising
appropriate accounts that assist firms in running their income and expenses profitably and allow
them to construct budgetary control bandwidth efficiency of monetary backing. Similarly, each
accounting should emphasise the need of broadening their awareness of the foremost challenges
of all departments within a similar community in order to efficiently construct expenditures for
the similar. It also helps firms predict future economic state, such as weather companies are
earning or going bankrupt (Holsapple, Hsiao and Pakath, 2018).
Research and development- Processes that are investigated with both the purpose of
releasing and creating additional items are included in the functional sectors of science and
training. Additionally, the correct partition is crucial in the context of the lifetime. This
leadership style is typically related to a variety of various leagues, including marketing and
promotion.
Sales- Different targeted sectors associated with the governance of a company's entire
selling revenues and profitability earned over a significant duration of time. In context of this, it
is effective, as the major purpose of all organizations is to raise selling and profitability from
their beginning. Furthermore, the strong revenue will instantly boost the likelihood of increasing

firm earnings. As a consequence, acquisitions are committed to efficient company divisions with
the purpose of establishing ways that will increase customer loyalty. As the technology is
produced, the relevance of the main consumer industries grows, and this tendency will persist
until the complete production capacity is transformed into worldwide revenue. As a function of
this department's assistance, an organisation acquires the ability to recognize specific consumers
in the globalized economy and reduce spending to them through the employment of effective
methods (Kirchmer, 2017).
Types of skills needed through Employees
Skills needed by marketing employees- The advertising agency is usually in charge of
improving the corporation's reputation in the business. For illustration, every person of the
marketing department must do it in terms of developing positive terms with customers and
increase the sales effectiveness. Some of the common areas of knowledge which would be
needed by marketing managers in order to implement its mission profitably are numerical, team
operating, enhanced communication, influencing capabilities, analytical ability, and many more.
Wherein the, marketing people management people have to work on having the mentioned
competencies generally, that collaboratively assists individuals in conducting respective
activities in a somewhat more proficient way. Enhanced interviewing capabilities, interpersonal
skills, and persuading talents have been demonstrated to help the marketing function develop
strong connections with customers and inspire individuals to make lucrative transactions from
competing organizations (Lacoste, 2016).
Skills needed by Human resource management employees- Productive capacity is
regarded as among the most produce economic in a business since it helps the networking
equipment its intended personal goal. As a response, professionals in this field have a diverse set
of talents, enabling people to cultivate good bonds with both the firm and the workers, due to a
number of advantages for both sides. Human resource professionals should incorporate effective
communication, multitasking, communications, leadership development, as well as other critical
skills into their businesses. It might be argued that the presence of these quality programs aids in
encouraging the corporation's personnel to continue to stay with the organisation and effectively
fulfil corporate objectives.
Skills needed by Customer service employees- Fundamentally, client support
representatives must focus on answering users' inquiries in ability to succeed increase audiences'

loyalty to businesses. As a result, whenever it comes to obligations, it's vital for client assistance
professionals to have a good grip on talents such as communicating effectively, economical
management, swift thinking, and several others. By employing such skills, every department may
help the completely secure by immediately addressing workers' concerns on time.
Skills needed by Finance employees- Federal reserve employment has been a little
difficult, but these individuals should be particularly attentive so that they do cannot get
confused in their items and make blunders. As a consequence, revenue recognition, corporate
performance, awareness of technological innovations, and other tools are needed of banking
workers. Individuals with such qualities and an improved financial workplace attitude could
contribute to the business performance.
Skills needed by Research and development employees- Its employees should require
increased R&D skills to do study business related, industry, competitors, and others, that could
situations helps it in applying possible information which would aid it in generating wealth. As a
consequence, each area necessitates the use of critical reasoning abilities, human communication
expertise, and other abilities. As an outcome, every one of these competencies would also have
been necessary of R&D professionals in enable for them to perform tasks effectively and
appropriately (Van Der Pijl, Lokitz and Solomon, 2016).
Skills needed by Sales employees- The marketing performance management needs to
remain in touch with the sector as it evolves, and this can vary dramatically among survival and
prospering in an extremely difficult world. The method may differ from firm to company,
particularly as you progress ahead in the future, however the 3 main beginning or emphasis
elements are management, plan, and analytics. Overall, the marketing department must
experience because they're a good decision maker and be given the opportunities it need to
advance instead of being perceived as income engines. Irrespective of, expertise while choosing
and enrolling young faces, companies must give it your best shot to be comprehensive in
teaching and meeting their goals. Human relationships, collaboration, effective communication,
and founding member, among many other abilities, are required of salesmen. Notwithstanding
the limitations, these abilities allow business owners to reach its sales targets within a particular
period limit while also enhancing the company's financial performance (Vochozka, Rowland and
Šuleř, 2019).

CONCLUSION
It could be concluded from the above analysis and evaluation that there are a number of
different aspects that the company can use a variety of factors that can help it to improve its
overall value in the market in which it is operational. It can be said that a firm can examine
different skills and abilities that are needed, required, as well as essential in the market place in
which it is working so that it can stand well ahead of all its competitors that are prevailing in the
industry.

REFERENCES
Books and journals
Chen, Y. and Bellavitis, C., 2020. Blockchain disruption and decentralized finance: The rise of
decentralized business models. Journal of Business Venturing Insights, 13, p.e00151.
Chesbrough, H., 2019. Open innovation results: Going beyond the hype and getting down to
business. Oxford University Press.
Guizzardi, G., Guarino, N. and Almeida, J.P.A., 2016, September. Ontological considerations
about the representation of events and endurants in business models. In International
Conference on Business Process Management (pp. 20-36). Springer, Cham.
Holsapple, C.W., Hsiao, S.H. and Pakath, R., 2018. Business social media analytics:
Characterization and conceptual framework. Decision Support Systems, 110, pp.32-45.
Kirchmer, M., 2017. High performance through business process management. West Chester:
Springer.
Lacoste, S., 2016. Sustainable value co-creation in business networks. Industrial Marketing
Management, 52, pp.151-162.
Van Der Pijl, P., Lokitz, J. and Solomon, L.K., 2016. Design a better business: New tools, skills,
and mindset for strategy and innovation. John Wiley & Sons.
Vochozka, M., Rowland, Z. and Šuleř, P., 2019. THE SPECIFICS OF VALUATING A
BUSINESS WITH A LIMITED LIFESPAN. Ad Alta: Journal of interdisciplinary
research, 9(2).