BMP3004 World of Work: Functional Areas of Business Organizations

This report provides a comprehensive overview of the functional areas within a business organization, including marketing, human resource management, customer service, finance, research and development, and sales. It defines business and its various forms, emphasizing the importance of functional areas in the exchange of goods and services. The report details the skills required for employees to effectively operate in each functional area, covering both hard and soft skills such as communication, problem-solving, and analytical abilities. It concludes by highlighting the necessity of a business plan and a thorough understanding of these functional areas for entrepreneurial success. This document is available on Desklib, a platform offering a range of study tools and solved assignments for students.

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
Business organization is the the entity that is formed with the purpose of
buying and selling of good and services with the aim of earning profit and revenues.
These business organization are based on systems of laws. In other words, it is an
organization formed for the purpose of carrying on commercial enterprise. There are
different types of business organization individual proprietorship, partnership,
corporation, cooperative, franchise, a company limited by liability, a company limited
by shares, and statutory companies(Ackah, 2019). These organization are governed
under laws and regulations. This report file provide the information of important
business areas. To John for the company ( IOM Electronics Ltd). This file provide
assistant to the John to run the business effectively.
2.0 What is a business?
Business enterprise is the activities of providing good and services to the
society with the purpose of earning income. These services include financial,
commercial and industrial aspects. Business is an accumulation and coordination of
the resources such as men, material, money and machines to produce the goods
and services( Ai, and.et.al,. 2019). Business can be for profit entities and non-profit
organization. Business often require business plan before operations of business
start. Business plan contain the strategy, goals, and objectives. The business have
different functional areas through which a business has been run. Generally
business are of three types sole proprietorship, partnership and limited liability.
 Sole proprietorship: These business are run and owned by a single natural
person.
 Partnership: This is a business relationship between two or more peoples.
Who join forces and invest money to conduct business.
 Corporation: A group of person act together as a single entity.
3.0 What is Functional areas of business – Definition
The process of exchange of goods and services are being carried out by the
functional areas of business. For example various function in human body are
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performed by different organs, just as different functions within a enterprise are
controlled and manage by different parts of the business enterprises. Functional
area involve the teams of employees who have similar skills and knowledge(Gurbuz,
Demir, and Das, 2020). For example, a product department of a company is the
ordinary functional area, then workers of this area would focused on producing the
companies product.
4.0 What are the key functional areas of a business?
The decision areas are build to develop efficiency and effectiveness across
the company. The major functional areas of business are given below:
 Management: The primary function of manager is to supervise and control
the business activities. Management is the process of planning, organizing,
controlling and leading the activities that presents within an organization.
 Operations: It include the process where factor of making are transferred into
goods and services. Operations are the heart of business organization
( Kurek, Wójtowicz, and Gałka, 2020). Exact duty of operation department is
varies from business to business. This department also perform the function
of redesigning operations of business.
 Accounting: This provide the information of resources that are present in the
organization or which are needed. This areas are responsible for accurately
representing the financial transactions.
5.0 Description of the various functional areas in business
organizations
5.1 Marketing:
This activity is done by an enterprise to identify the current needs and
requirement of the customers. The marketing function also involve promotion of
goods and services. Now days social media is one of the fastest growing medium
within the marketing function.
5.2 Human Resource Management:
HRM is require in a company to perform the function of recruitment and
selection. The primary and foremost function of HRM is to fill the vacant job position
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with the capable staff. HR is also in-charge of various ares such as compensate and
benefits, training and seminars, employment relations, and organizational
development.
5.3 Customer Service:
The one who has responsibility of interacting with customers is work in the
customer service department. It include answering of inquiries, solving the
customers grievances and processing of orders( Li, and.et.al., 2021). A company
require a good customer service department that help to maintain and create
relationship with customers.
5.4 Finance:
Most of the entrepreneurs are considered that this is the lifeblood of the
business organization. Finance staff record all the money earned and spend on the
operations. The function of budgeting, forecasting and other decision making
activities are also handled by this department. Some of finance functions are
producing invoices, checking remittance, recording money received transactions,
preparing the payroll and making staff payments, and producing statutory account
every year.
5.5 Research and Development:
This activity considered with development of new manufacturing as well as
improvement in existing product. In several business organization, it also involve
outcome design as well. The improvement in already available product often result of
market research.
5.6 Sales:
Business organizations are those that create and deliver the products or
services to the customers. In many start-up, the business owner performs many role
including operations. By sealing of goods and services owner earn profit, and earnig
profit is the main aim of a business organization.
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:
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Trade skills are divided into two categories first is soft skill and second is hard
skill. Soft skill is widely applicable and used in career path. Hard skills are focused
on scientific abilities and informality with specific tool and techniques that are present
in an organization.
 Communication: Marketing is about communicating to an audience. To
express the knowledge of the product and concept of the product it is require
to have a good communication skill.
 Creativity and problem solving: Marketing is all about delivering a massage
that resonate with the business( Ma, and Long, ,2020). Creativity is all about
of doing things into a new way.
Interpersonal, leadership( this skill is important to lead a team) and
adaptability( marketing is fast-changing field). Top marketing hard skills writing, data
analytic, project management,research, social media marketing, email marketing and
visual marketing.
6.2 Skills needed by Human Resource Management employees:
A committed human resource manager is the spine of a successful business
organization. Human resource manager is responsible for creating a safe, efficient
work environment. Here, is the list of some skills that the HR manager must have.
 communication skill: This skill is require for negotiation salary, benefit
explanation, organization presentation and employee handbook updates.
Communication skill is require to effectively coordinate with employees.
 Organization skill: This skill is require for organizing several activities that
happen in an organization such as: seminars, workshop and skill and
knowledge programs.
 Flexibility, negotiation, patience and commitment are the other qualities that a
manager must have.
6.3Skills needed by Customer Service employees:
 Respect: Customer service employees must respect their customers. If a
customer is come up with the issue it a duty to resolve the problem in a
respectful manner.
 Self-control: Some customers are going to be very calm but some come up
with the harsh words( Zhou, and.et.al., 2019). Some may even insult the
employees. It's these situation that demand strong self control.
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 Empathy: A good customer service is incomplete without empathy. It is the
ability to understand another person's emotions. Empathy is an important
service skill.
6.4 Skills needed by Finance employees:
 Interpersonal skills: Now days interpersonal skills are more important than
ever. Employees need to deal with people every day, constantly attempting to
build healthy relations with co-workers.
 Formal qualification: To pursuing carrier in finance a person have strong
knowledge in finance. Because rigorous procedure and accounting rules
require formal qualification.
 Analytical skills: It refers to looking into a situation accurately, understanding
how it work and interpreting what it means (Monden, 2019). For analyzing
data an employee need both the skills decision making and problem solving.
6.5 Skills needed by Research and Development employees:
 Problem solving: This refer to the capability to handle difficult situation and
overcome business problems. Problem solving skill involve the ability of think
critically about the problem and analyze the information.
 Time management: This skill involve to the ability of break down project into
achievable parts. Time management skill involve planning, organizing,
delegating and prioritizing task.
 Note- taking skills: this involve the ability to collect the vital information.
Research and development employees need to take productive notes during
training and meetings.
6.6 Skills needed by Sales employees:
 Product knowledge: Employee must have the knowledge of the product that
they sale. It is very important to gather the information about the every
aspects of the product.
 Communication skills: It is crucial to have good communicating skills when
working as a sale representative. Ability of effective communicate will highly
impact on the sale of the product.
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 Information gathering skill: As a sale representative, it would require to be a
good researcher. To gather accurate and correct information about
competitors, market trends, and current vendors.
Conclusion
From the above, it has been evaluate that to start a business, an entrepreneur
must have a proper business plan. That contain the information regarding aims,
objectives and requirements of the business organization. Before start a business an
individual should have the overall knowledge of business areas. Apart from this, the
owner find the key resolution areas of a business entity. After find the key decision
areas assigned them duties and responsibilities. When entering into market and start
their own business, an individual need to identify all the important aspects of the
business organization.
References
Ackah, M., 2019. Soil elemental concentrations, geoaccumulation index, non-
carcinogenic and carcinogenic risks in functional areas of an informal e-
waste recycling area in Accra, Ghana. Chemosphere, 235, pp.908-917.
Ai, Y., and.et.al,. 2019. In vitro bioaccessibility of potentially toxic metals (PTMs) in
Baoji urban soil (NW China) from different functional areas and its
implication for health risk assessment. Environmental geochemistry and
health, 41(2), pp.1055-1073.
Gurbuz, K., Demir, M. and Das, K., 2020. The use of dermal substitute in deep burns
of functional/mobile anatomic areas at acute phase after early excision and
subsequent skin autografting: dermal substitute prevents functional
limitations. Journal of Burn Care & Research, 41(5), pp.1079-1083.
Kurek, S., Wójtowicz, M. and Gałka, J., 2020. Population growth in functional urban
areas. In Functional Urban Areas in Poland (pp. 33-50). Springer, Cham.
Li, S., and.et.al., 2021. Optimize and control territorial spatial functional areas to
improve the ecological stability and total environment in karst areas of
Southwest China. Land Use Policy, 100, p.104940.
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Ma, S. and Long, Y., 2020. Functional urban area delineations of cities on the
Chinese mainland using massive Didi ride-hailing records. Cities, 97,
p.102532.
Monden, Y., 2019. Toyota management system: Linking the seven key functional
areas. Routledge.
Zhou, L. and.et.al,. 2020. Source identification of heavy metals and stable carbon
isotope in indoor dust from different functional areas in Hefei, China. Science
of The Total Environment, 710, p.135599.
Zhou, L., and.et.al., 2019. Characteristics and health risk assessment of heavy
metals in indoor dust from different functional areas in Hefei,
China. Environmental Pollution, 251, pp.839-849.
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