Analyzing Functional Areas of Business in World of Work BMP3004

This report explores the key functional areas of a business, including marketing, human resource management, customer service, finance, research and development, and sales. It defines each area, outlines their roles and responsibilities within an organization, and details the essential skills required for employees to perform effectively in these roles. The report emphasizes the importance of each function in achieving organizational goals and maintaining stability in a competitive market. It also highlights the interconnectedness of these functional areas and their collective impact on a business's overall success. Desklib provides access to similar solved assignments and study resources for students.

Business Management with Foundation
BMP3004
World of Work
Functional Areas
Contents
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
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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
7.0 Conclusion p
References p
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1.0 Introduction
When an individual or group of people are engaged in different commercial,
industrial and professional activity in order to generate money then this is called a
business. In a business enterprises different types of activities has been performed
by the employees of the company in order to achieve all the set objective. The main
motive behind running an business enterprise is to generate more and more profit by
fulfilling the demand of their consumer in a very effective manner. Regarding the
John's request the following report is going to give information about the key
functional ares of business along with their role and responsibilities within the
business. This report also cover the skills and knowledge which need to be posses
by the employees of these functional areas so that they carry out the assigned task
in a well effective manner. In the end a small discussion has been done on that, how
these functional areas has been interrelated to each other (Wu, B. and et. al., 2022)..
2.0 What is a business?
In simple terms business may be defined as the activity of making or buying
the goods and services and then sell the product to their consumer in exchange of
money while maintaining all the corporate social responsibility.
3.0 What is Functional areas of business - Definition
Functional areas of business are basically the different departments of the
company in which a particular business functional has been carried out by the
employees of each department. In these department decision making, planning,
communication and coordination is being considered as the most important actions.
Without these action employees cannot perform these functions in a effective
manner which ultimately reflects on the growth of the business. All these functional
areas has its own role and responsibilities within the business.
4.0 What are the key functional areas of a business?
Marketing, finance, operations, customer's service, human resource, sales
etc. are being considered as the key functional areas of business.
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5.0 Description of the various functional areas in business
organizations
5.1 Marketing :-
The marketing department of an organization consist of everything that a
company does to identify about their consumer. From the business point of view the
functions of the marketing department is very important because the stability of the
company is totally depend on this area. The main function of this department is to
promote the goods and services which are developed by the company in the
competitive market. Along with this they also responsible for developing the effective
market campaigns and analyzing the market trends and preferences of the
consumer. The employees of these department grab the opportunities which are
present in front of them in a very effective manner because of the direct relationship
with their customers. It is very important for the marketing department to adopt the
effective social and digital marketing techniques in order to promote their product I
the market.
5.2 Human Resource Management:
The employees of these department is being considered as the fundamental
asset for the organization. As the employees of these department is responsible for
managing the work of people with in the company and recruiting and selecting the
people. In the process of recruiting and staffing they find the best people with full of
knowledge and skill so that they can carry out the assigned task with utmost
productivity. In addition to this they also responsible for giving the training to the staff
members of the company so that they provide good quality of staff members to their
customers. The workforce which are hired by the HR department of the company
carry out the task with the help of skill set and knowledge posses by them . All the
objectives and goals which are set by the higher authorities effectively achieved by
the employees (Szewc, A. and et. al., 2022)
5.3 Customer Service:
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This department of the company is responsible for providing the after sales
services to their customers. The employees of these department is being considered
as the face of company because they are responsible for providing the help to their
customers. If the clients of the company feel comfortable then the loyal customers for
the company has been increases. They are also responsible for providing effective
after sales services to their customer so that these services will be remembered by
them. For this department talented and smart people will be hired so that the
problems of the consumer can be solve in a very positive manner (Realyvásquez, A.
and et. al., 2022).
5.4 Finance:
The finance department of the company is also very important, as all the
finances of the company is being handled by this area. Generating different sources
of fund, managing all the accounts of the company and many more are being
considered as the key functions of this area. In addition to this all the investment
related decision are also taken by the employees of this department. It is very
important for the management of the company to use latest technology in order to
manage the accounts of the company. If they do this then they minimize the risk and
errors in recording all the financial transactions of the organization. With the help of
this the firm are able to improve their stability in the competitive market (Moinian, S.
and et. al., 2022).
5.5 Research and Development:
Making changes in the existing product of the company or launching a new
product in the market are in the hands of the employees of this department. The
employees of this area responsible for generating innovative ideas in relation to the
products of the company with the help of research report which are developed by
marketing team. These are the key functions which are performed by the employees
of this area. If they don't do their functions in a proper manner then the stability of the
company are in danger. In order to stand in the market for a long period of time,
they have to constantly innovate their product with the help of proper strategies and
policies.
5.6 Sales:
Sales may be defined as the process of delivering goods and services of the
company in exchange of money. The sales may be cash or credit. The whole
profitability of the company is totally depend on this area because the employees of
this department is responsible for converting the need and desire of the people into
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sales. To perform these activities in effective manner skillful and talented people
must be hired by the company (Khan, I. and et. al., 2022).
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:
 For the employees of marketing department communication skill is very
important. The possession of this skill within the employees help them in
expressing the benefits of the product to their consumer.
 The possession of the decision making skill is also very important for the
employees of this department. With the help of this skill they can effective
solve all the problem which reflects on the sales of the company.
6.2 Skills needed by Human Resource Management employees:
 The politeness and calmness is the most important skill which must be posses
by the employees of this area. The possession of this skill help in resolving all
the conflicts between the employees (Júnior, M.N. and et. al.,2021).
 Some times they have to negotiate with their employees in relation to the
salaries, so for this negotiable skill must be posses by them. This ultimately
benefits the company.
6.3 Skills needed by Customer Service employees:
 The employees of this department must posses the effective communication
skill. As they mostly perform their task on telephones or email, with the help of
this skill task can be performed by them in a very effective manner.
 The effective listening skill is also very important for these employees
because they have to understand the point of view and emotions of the
customers.
6.4 Skills needed by Finance employees:
 In order to solve all the problems or find effective solutions of the different
problems the employees of this area must posses the analytical skill. With the
possession of this skill productivity has been enhanced.
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 Proper accounting skill must be posses by these employees as they have to
maintain the accounts of the company (Dey, A. and et. al., 2022).
6.5 Skills needed by Research and Development employees:
 Time management skill very important for this department because with the
help of this skill they can effectively divide the task and complete within the
set time limit.
 In order to innovate or make changes in the products of the company they
must posses the research skill because with the help of this skill they can
analyze the market.
6.6 Skills needed by Sales employees:
 Confident and positive attitude is very important for the employees of this
department because with the help of this skill benefits, of the goods can be
effectively conveyed.
 Also the effective listening is very important for these employees as this skill
help them in understand their consumer in a better manner (Jamuna, S., 2022).
Conclusion
From the above report it has been concluded that the departments of the
company is depend upon the nature and size of the company. As different types of
activities has been performed by the employee's of each department towards the
achievement of the organizational goals. This report also concluded that different
types of skills has been posses by the workers of each area.
References
Dey, A. and et. al., 2022. Functionalized nanomaterials driven antimicrobial food packaging:
A technological advancement in food science. Food Control, 131, p.108469.
Jamuna, S., 2022. Optimization of Logical Resources in Reconfigurable Computing.
In Applied Soft Computing (pp. 69-88). Apple Academic Press.
Júnior, M.N. and et. al.,2022. Gelatinous Zooplankton. Marine Biology: A Functional
Approach to the Oceans and their Organisms, p.150.
Khan, I. and et. al., 2022. Links among energy intensity, non-linear financial development,
and environmental sustainability: new evidence from Asia Pacific Economic
Cooperation countries. Journal of Cleaner Production, 330, p.129747.
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Moinian, S. and et. al., 2022. Magnetic resonance fingerprinting residual signals can
disassociate human grey matter regions. Brain Structure and Function. 227(1).
pp.313-329.
Realyvásquez, A. and et. al., 2022. Ergonomic Bench to Decrease Postural Risk Level on the
Task of Changing Forklift's Brake Pads: A Design Approach. In Research Anthology
on Changing Dynamics of Diversity and Safety in the Workforce (pp. 600-619). IGI
Global.
Szewc, A. and et. al., 2022. The documentation in the project of software creation.
In Developments in Information & Knowledge Management for Business
Applications (pp. 361-441). Springer, Cham.
Wu, B. and et. al., 2022. Political connections, industry entry choice and performance
volatility: evidence from China. Emerging Markets Finance and Trade. 58(1).
pp.290-299.
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