BSc Business Management BMP3004: World of Work Functional Areas

This report provides a comprehensive overview of the functional areas within a business, including marketing, human resource management, customer service, finance, research and development, and sales. It defines what constitutes a business and the importance of functional areas in achieving organizational goals. The report delves into the specifics of each functional area, describing their roles and responsibilities, such as promoting products, managing employees, handling customer inquiries, managing finances, innovating through R&D, and driving sales. Furthermore, the report outlines the essential skills required for employees to excel in each functional area, including communication, problem-solving, financial analysis, and technical expertise. The conclusion emphasizes the critical role of these functional areas in business development and the skills needed for effective performance. The references provide a list of sources used in the report.

BSc (Hons) Business Management with
Foundation
BMP3004
World of Work
Functional Areas
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Contents
1.0 Introduction 3
2.0 What is a business? 3
3.0 What is Functional areas of business – Definition
3
4.0 What are the key functional areas of a business?
3
5.0 Description of the various functional areas in business
organizations 4
5.1 Marketing 4
5.2 Human Resource Management 4
5.3 Customer Service 4
5.4 Finance 4
5.5 Research and Development 4
5.6 Sales 5
6.0 Description of the types of skills needed by employees
to be able to work effectively in these functional areas
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6.1 Skills needed by Marketing employees 5
6.2 Skills needed by Human Resource Management employees
5
6.3 Skills needed by Customer Service employees
5
6.4 Skills needed by Finance employees 6
6.5 Skills needed by Research and Development employees
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6.6 Skills needed by Sales employees 6
7.0 Conclusion 6
References 7
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1.0 Introduction
Functional field is a group of representatives with comparative abilities and aptitudes.
For example, an organization is a service group, and this space is a typical practical
space for employees, centered on the method of the organization's item sales role. A
functional area is a division of business that has similar capabilities to a business, and is
a number of divisions of a business that require different skills because there are various
activities performed in the business depending on whether the business goals are
achieved or not. In the functional area of the business, it helps to improve business
services to effectively achieve business objectives to the market (Filatotchev, 2020).
2.0 What is a business?
Business is a term used to refer to economic activities, including the production,
purchase, and sale of goods and services whose profit is to meet the needs of
customers. These are terms that are likely both for profit or non-profit carbonates,
each with an objective that can benefit from achieving a social purpose. In order to
do business, it is very necessary for a company to have specific purposes and
objectives in order to achieve profits in an appropriate way (Jaelania, 2020).
3.0 What is Functional areas of business - Definition
Functional areas are very important to the company to enable the company and its
employees to deal with the areas to build the efficiency and effectiveness of the
business as a whole. There are two functional rules that describe the groups of skills
and practices that an organization forms to achieve the departmental goals and
objectives.
4.0 What are the key functional areas of a business?
Business has various functional areas such as human resource management
functional area, production office management area, financial management area,
marketing, management area, and information technology. Functional areas, also
known as administrative areas, are the five main administrative functional areas that
help a company achieve its goals within a minimum period of time. It is very
important that an organization be successful in the market and focus on functional
areas to ensure more competitive advantage (Wang, 2020).
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5.0 Description of the various functional areas in business
organizations
5.1 Marketing:
Marketing is a functional area that helps a company promote its products and
services in the market in order to gain more opportunities and build a more customer
base within the organization. To be successful Organizations can use digital
marketing social media platforms to communicate with customers, resolve queries,
and build relationships for efficiency and effectiveness in the market (Kyle, 2021).
5.2 Human Resource Management:
This is a functional area of the company that supports more talented people in the
organization and provides education and development programs to improve their
skills so that they can provide the organization with more positive results. is. The
human resource management team is very important for recruiting and selecting
talented people in the company in order to increase the profitability and productivity
of the company.
5.3 Customer Service:
The field of customer service is also very important to the company, in order to solve
customer theories and find solutions to consumer's problems so that they have more
opportunities to build customer relationships and strengthen their business. The
primary responsibility of customer service is to provide appropriate information and
resolve client queries (Nhamo, 2021).
5.4 Finance:
This department plays an important role in the business as it helps the company
neutralize the points in the right way. This helps the company maintain its financial
stability, control cost efficiency to maintain the company's natural resources, and
maintain the company's budget.
5.5 Research and Development:
This department helps in increasing the demand in the marketplace because it helps
to research the staff, and to identify the needs of the training and development
areas. The field of research and development helps employees improve their skills
by conducting training and development programs to help them improve their skills
and increase their effectiveness.
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5.6 Sales:
It is a very important department in the organization that designs logistics companies
according to sales demands. An important source for the sales department is to
monitor the distribution of products and services. The basic functions of the
marketing and sales business functional area are sales forecasting to receive sales
orders, customer support advertising, etc.
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 multiple resources gained through marketing in terms of good teamwork
skills and abilities to create and develop modified plans. Proper communication skills
are very important to deliver this message to customers. If the employees will not be
able to communicate with the customers effectively then will be not be able to
promote the services of the business effectively. Promoting the goods and services
of the company is the main role of the marketing department due to which they
should have different skills of promoting the services so that more people can
attracted towards the services of the business (Kuhlenkamp, 2020).
6.2 Skills needed by Human Resource Management employees:
There are a number of skills required by human resource management staff, which
are the most strategic and most planned skills to formulate a modified plan to hire
modified people in an organization. Accordingly, it is very important to master
problem-solving skills, and modified communication is made to develop and train
staff. To hire the best employees in the business HR should have a confidence level
so that they can identify the skills and knowledge of the employees effectively and
can select the best deserving candidates in the business so that revenue generating
power of the company can be increased.
6.3 Skills needed by Customer Service employees:
Employees need a variety of customer service skills, including proper knowledge of
the product, time management, ability to act, and the ability to read and effectively
influence customers. Customers are the main source of generating income in the
business so it is responsibility of the employees to provide the best services to the
customers so that customers loyality of the business can get developed. Employees
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should have patient so that they cannot become aggressive with the customers while
solving the issues.
6.4 Skills needed by Finance employees:
Accounting knowledge and financial reporting aptitude are critical to having analytical
and research skills to make the right decisions and maintain the financial stability of
the company. Financial staff needed a variety of skills and abilities to perform all
financial functions, including analytical skills, interpersonal skills, understanding of
industrial skills, financial management, critical thinking and problem-solving skills.
6.5 Skills needed by Research and Development employees:
The skills needed to become a research and development engineer with excellent
oral communication skills and the ability to generate English. It was very necessary
that they had the ability to pay attention to detail in order to use the initiative and give
workers adequate knowledge. The ability to handle the largest databases, analytical
thinking, critical problem solving, time management, teamwork, and more, all
research and development tasks require a variety of skills (Oelberger, 2021.).
6.6 Skills needed by Sales employees:
There are many different skills that are important to selling. Active listening and time
management skills, relationship building skills, Communication, social sales, active
listening, dispute handling, exploration, judgment and negotiation skills are required.
and a strategic outlook are critical to trading products and services on any
marketplace. Sales persons should have the deep knowledge about the product so
that they can provide the benefits of the products to the customers more effectively
so that customers can easily get influenced by the services of the company which
will further help in increasing the sale of the business in the marketplace.
Conclusion
From the above report it has been analysed that functional areas plays an significant
role in the business as it helps in developing the services of the business so that
productivity of the business can be enhanced. There are various skills which is
required by the employees in every department so that they handle the queries
accordingly and can provide the best solution.
References
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