Report on Functional Areas in Business - BSc Business Management

This report provides an overview of the functional areas within a business, emphasizing their roles and interdependencies in achieving organizational goals. It defines a business as a commercial activity aimed at generating revenue and highlights the importance of various departments working cohesively. The report details key functional areas such as marketing, which focuses on promoting goods and services and understanding customer needs; human resource management, responsible for hiring, training, and employee development; customer service, dedicated to resolving customer issues; finance, which manages the allocation of resources and financial records; research and development, tasked with gathering data and exploring details to enhance business effectiveness; and sales, focused on promoting goods, increasing sales volume, and expanding the business. Furthermore, the report describes the skills required for employees to work effectively in each of these functional areas, including understanding customer needs for marketing employees, hiring and training skills for human resource management, problem-solving skills for customer service, financial management skills for finance employees, data gathering and analytical skills for research and development, and communication and sales expertise for sales employees. The report concludes that a business consists of interconnected sectors, each contributing to the overall success and objectives of the company.

BSc (Hons) Business Management with
Foundation
BMP3004
World of Work
Functional Areas
Submitted by:
Name:
ID:
Contents
1

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
2

7.0 Conclusion p
References p
3

1.0 Introduction
Business is the commercial activity which is being done with the aim of making
money. All the operations is accomplish with the efforts of the every areas that is
assigned as per the skills and profession of the person ( Malik, Budhwar, Patel, and
Srikanth, , 2022). The main aim of the organization is to earn a great revenue and
good trade name in the market place. This report is based on the various functional
areas that are different in performing actions in making the working more effective and
impressive. This project will explain the features and roles of the different expertise
and how they are similar with each other.
2.0 What is a business?
It is a money making activity which is perform with the motive of attaining
company goals and earning revenue from the market place although it is being
achieve with the support of different departments and areas that play there own
roles and responsibility towards the operations. It is the process of the serving
services in the market in order to establishment of the concern.
3.0 What is Functional areas of business - Definition
Similarly as a various functional areas are action-ed and regulated by
assorted organs, various functions within a business are performed and
managed by various sections of the business. One of the main purpose for
dividing business operations into functional areas is to permit every action to
operate with them In order to make the working more effective. It includes some
major areas which are elaborated in further report (Shi, 2019,).
4.0 What are the key functional areas of a business?
Here are some functions areas that contributes in concern in making the
workings more effective and successive so that the firm can have the long term
sustainability. Further discuss the various functional areas that is explained in
report.
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5.0 Description of the various functional areas in business
organizations
5.1 Marketing:
It is the departments that promotes the goods and services in the market place
in order to make the company and sale grow and expand in other places. It
includes the help of research analysis of customer needs and wants in order to
satisfy them as well as make them a loyal consumers for the brand (Mishra, ,
Singh, and Koles 2021).
5.2 Human Resource Management:
This is the area which hire and select the skilled employees with in the
company so that work can be done perfectly. They are responsible for providing
training and learning sessions in the company so that employees can improve
their productivity.
5.3 Customer Service:
this is department which provides the services in the company as they are
responsible for solving the issues of the buyers and other ones. They must talk
clearly and honestly they must commit the loyal words to the users.
5.4 Finance:
this is the sector which is the area which allot the amount to other functional
areas to make and accomplish their business goals successfully. These are the
relative to other areas as finance is the blood of the company. They record all
the transactions and activity with in the organization In order to manage profit and
loss condition of the company.
5.5 Research and Development:
This is the functional area which Is reliable for exploring the details which is
required to have for developing business more effective and impressive
although they have gather a data and details that is needed in marketing
department for making the operations more influential (Ma, and Li, 2019, ).
5.6 Sales:
this is the department that is liable for promoting the goods and services of the
company in the marketplace as well as they are responsible for making the
activities and actions effective and influential . They are reliable for increasing the
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sales volume and activity. This department is liable for the increasing the brand
value in the market place. The main aim of this area is to expand the business in
international market (Seno, , and et., al., 2019. ).
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:
They are needed with the ability of understanding the needs and wants of the
buyers so that they can satisfy the needs and wants of them as well as make them
a loyal customer for the business. They are required to make an innovative
tactics and tools to influence the new buyers and consumers to buy the goods
from the brand. They must collect the data and arrange as per the requirements
and demands. They should continuously communicate with the clients and
buyers so that they can know the current offers and education of the goods.
6.2 Skills needed by Human Resource Management employees:
they are required to have the education for hiring a skillful employees and
candidate so that the work can be accomplish under the expertise. They must
organize the training and learning sessions for employees as well as they are
liable for making salary chat and other policies in order to increase the long term
sustainability of the employees with in the company.
6.3 Skills needed by Customer Service employees:
they must be soft speaking and must have the good knowledge of the goods and
services which they are offering in the market. They should have the great skills of
solving the issues and problems so that the user can easily utilize the goods and
services (Frias, and Popovich, 2020).
6.4 Skills needed by Finance employees:
they must have the good practice of managing the records and books in order
to control the over head cost. They must have experience of managing the books
and accounting activity . They are responsible or allotting the activity amount so
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that work can be done effectively and efficiently. They must record every
transactions and inflows and out flow of the amount.
6.5 Skills needed by Research and Development employees:
They must required to have a relevant details and must explore the things that
are treatable to the goods and company in which they are working. There major
responsibility is to manage and gather a good and appropriate details that can be
utilized by the marketing team . They must recognize the needs and wants of the
users and buyers (Torres, Sidorova, and Jones, 2018).
6.6 Skills needed by Sales employees:
The skills are needed by the sales manager are they must soft speaking and
polite too so that they can handle the consumers easily as they are the
representation of the brand so they must have the knowledge of the goods and
offers that are served by the company. As well as they must be innovative and
smart so that they can make a great idea in order to increase the sales.
Conclusion
it is concluded from above report that the business is consist of different
sectors that are being arranged on the basis of their professional areas and the
expertise of them. They all are interlink with each others as it makes the objective
attainable and effective too. As all the activity is done in the favor of the company.
Above discussed the various functional areas of the business ans skills required
to them. As well as the concept of business and functional areas.
References
Frias, K.M. and Popovich, D., 2020. Bridging Marketing and STEM Education:
Cross-Functional Teamwork for New Product Development. In Preparing
Students for Community-Engaged Scholarship in Higher Education (pp. 284-
305). IGI Global.
Ma, C. and Li, W., 2019, December. Discovering Functional Regions in Modern
Cities by Using User Check-in Records and POIs. In 2019 IEEE International
Conference on Robotics and Biomimetics (ROBIO) (pp. 509-514). IEEE.
Malik, A., Budhwar, P., Patel, C. and Srikanth, N.R., 2022. May the bots be with you!
Delivering HR cost-effectiveness and individualised employee experiences
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in an MNE. The International Journal of Human Resource Management,
33(6), pp.1148-1178.
Mishra, R., Singh, R.K. and Koles, B., 2021. Consumer decision‐making in
Omnichannel retailing: Literature review and future research agenda.
International Journal of Consumer Studies, 45(2), pp.147-174.
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).
Sarferaz, S., 2022. Compendium on Enterprise Resource Planning: Market,
Functional and Conceptual View based on SAP S/4HANA. Springer Nature.
Seno, J.P., and et., al., 2019. Cross-functional interconnectedness as an enabler of
customer value. Journal of business & industrial marketing.
Shi, R., 2019, July. The Research of Urban Rail Transit Line Planning in Urban Main
Functional Areas. In 2019 5th International Conference on Transportation
Information and Safety (ICTIS) (pp. 1037-1041). IEEE.
Torres, R., Sidorova, A. and Jones, M.C., 2018. Enabling firm performance through
business intelligence and analytics: A dynamic capabilities perspective.
Information & Management, 55(7), pp.822-839.
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