BMP3004: Functional Areas of Business in World of Work Context

This report provides an overview of the functional areas within a business organization, emphasizing their roles and importance in achieving overall success. It defines a business as a functional organization focused on profit through providing goods and services, and highlights key functional areas such as marketing, human resource management, customer service, finance, research and development, and sales. Each functional area is described in detail, outlining their responsibilities and contributions to the organization's goals. Furthermore, the report identifies the essential skills required for employees to effectively perform in each of these functional areas, including communication, creativity, problem-solving, analytical, and time management skills. The conclusion emphasizes the vital role of management and the interconnectedness of these functions in driving organizational success.

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
Management plays an integral role in the business. It is the process of using
the resources in a optimum manner so that goals and objectives can be achieved. It
is important to use proper management in order to achieve success (Allen, 2020). In
this report, the functional areas of business are being identified and there role in
success of company are examined. Along with that, the skills required to carry on
the work in proper manner in these functional areas are also mentioned.
2.0 What is a business?
Business can be defined as a functional organizations that carries the
commercial work, professional activity. The purpose is to earn profits by serving the
people and providing them goods and services of their need (Derr, and DeLong,
201). There are different types of business organizations such as limited liability
companies, sole proprietorship, corporations, and partnerships.
3.0 What is Functional areas of business - Definition
Functional area can be defined as team of employees that have similar skills
and expertise. They all come together to complete the task and accomplish success
of the company. These are the departments that complete the overall work of the
business organizations. There is need of proper coordination among these
departments.
4.0 What are the key functional areas of a business?
It is necessary to note that there some key functional areas of a business
organizations. All of them work to attain the overall goal of the company. They are
technology and equipment,, strategy, finance, marketing, human resources,and
operations
5.0 Description of the various functional areas in business
organizations
5.1 Marketing:
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Marketing department works to promote the goods and services of the brand.
The task is to enhance the awareness of the products and services that are being
offered by the company (Đuričin, and Herceg, 2018). It is necessary for the
marketing department to convert the customers and enhance the sales of the
organization. The marketing employees play a vital role and enhance the image of
the company. The employees must have desired skills that would help them carry on
the work in proper manner. It helps the company to manage the work and enhance
the profitability of the organization.
5.2 Human Resource Management:
The Human resource management of the company works to take interviews
and hire the most appropriate and skilled employees in the company. Afterwards the
task is to provide them training so that they are able to develop the skills and know
more about the company (Haldorai, Ramu, and Murugan, 2018). There is also need
to help the employees at each and every stage so that they do not face any issue. It
is analyzed that the compensation and pay is being given by human resource
department of the company. They work to understand the employees and solve the
problem that may arise so that goals and objectives can be attained properly.
5.3 Customer Service:
The work of customer service department is to solve the query of customers.
They take care that all the tasks are being completed on time. The customers come
across various issues and they are being solved by the customer service department
of the company. They are responsible to carry on the work in proper manner so that
real success can be achieved. It will help the department to carry on the work in
proper manner and achieve goals and objectives successfully.
5.4 Finance:
The finance department of the business organization works to carry on the
work by managing money. There is need of managing the finance so that right
actions can be taken. The finance department of the company plays a vital role in
formulating budget and managing the same for success of the enterprise.
5.5 Research and Development:
The work of research and development department is to check the trends on
regular basis. It is necessary to carry on the research so that the company is able to
conduct innovation (Raut, and et.al., 2019). There is need of working in proper
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manner and conducting research so that the new features can be added to the
products that are being offered by the company. It is necessary to carry research on
regular basis and bring innovation on regular basis.
5.6 Sales:
The sales department works to enhance the sales of the company. The
departments works effectively and coordinates with all the department and make
necessary changes in the product so that they are able to achieve success. There is
need to use proper skills and creativity so that the company is able to make
maximum sales that is will benefit the company.
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:
 Communication skills: With the help of effective communication skills the
marketing employees are able to convert the customers and enhance the
sales of the company (Jena, 2020). They will be able to understand the need
of customers by interacting with them.
 Creativity: The marketing executives must be creative. It will help them to
carry on the work in such a manner that the customers are attracted. They
must have ability to persuade the customers and convert them towards the
brand.
6.2 Skills needed by Human Resource Management employees:
 Communication skills: Communication skills are must for HRM employees
as they help them to interact with the employees and take interviews. By
communicating with them properly the relations can be formulated real
success of the department can be attained.
 Problem solving skills: There is need of problem solving skills in HRM
employees. All the issues that are being faced by the employees are solved
by HR departments (Maunder, 2019). So, the employees must have ability to
understand the problem and give effective solutions to the employees for
proper management.
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6.3 Skills needed by Customer Service employees:
 Speaking skills: They must have attractive speaking skills. They must be
fluent in speaking so that they are able to build relation with the clients. They
must be persuasive speaker so that the goals of the department are attained
properly.
 Responsible: They must be responsible and must value time. All the issues
of customers must be solved by them. The employees are expected to be
responsible for the work that is assigned to them and must complete the same
on time.
6.4 Skills needed by Finance employees:
 Analytical skills: The employees of finance department must have analytical
skills. It helps them to carry on the work properly and without any mistake.
 Accounting skills: The employees must be good with numbers and this will
help them to carry on the work properly.
6.5 Skills needed by Research and Development employees:
 Critical thinking skills: There is need of critical thinking skills in the
employees of research and development so that they are able to analyses
each and every opportunity that come in path (Mosteanu, 2020). Along with
that it will help to analyses each option and select the appropriate one.
 Attention: the employees working in Research and development department
need to be attentive so that they are able to carry on all the activities properly.
They must analyses each and every situation so that the right decision is
being taken by them.
6.6 Skills needed by Sales employees:
 Active listening skills: There is need of proper listening skills so that they
are able to know about the need of the customers. By knowing and analysing
the need of customers they are able to sell them the product and service, the
sales person must not keep on speaking by their own and analyses the needs
and wants of the customers.
 Time management skills: There is need of proper time management skills
that will help a person to manage the work and complete it within right time. It
is necessary to note that by managing time a person is able to carry on all the
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tasks properly. It is required to complete the assigned work within right time
and attain the targets.
Conclusion
From the above report, it is analyses that management plays a vital role in
success of a business organization. There is discussion related to meaning of
business and some of the important areas. There are various functions such as HR,
Marketing, production as well as operations that work together and leads to success
of organization. The organizational culture includes the norms, values that are
followed in an organization and the culture has direct impact on the success of an
organization. In the end of this report there is discussion related to the skills required
by the employees to carry on the work in functional areas.
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References
Allen, S.J., 2020. On the cutting edge or the chopping block? Fostering a digital mindset and
tech literacy in business management education. Journal of Management
Education, 44(3), pp.362-393.
Derr, C.B. and DeLong, T.J., 2018. What business management can teach schools. In The
Management of Educational Institutions (pp. 127-137). Routledge.
Đuričin, D. and Herceg, I.V., 2018, June. Industry 4.0 and paradigm change in economics and
business management. In International Conference on the Industry 4.0 model for
Advanced Manufacturing (pp. 37-56). Springer, Cham.
Haldorai, A., Ramu, A. and Murugan, S., 2018. Social Aware Cognitive Radio Networks:
Effectiveness of Social Networks as a Strategic Tool for Organizational Business
Management. In Social network analytics for contemporary business
organizations (pp. 188-202). IGI Global.
Jena, R.K., 2020. Measuring the impact of business management Student's attitude towards
entrepreneurship education on entrepreneurial intention: A case study. Computers
in Human Behavior, 107, p.106275.
Maunder, W.J., 2019. The human impact of climate uncertainty: weather information,
economic planning, and business management. Routledge.
Mosteanu, N.R., 2020. Artificial Intelligence and Cyber Security–A Shield against Cyberattack
as a Risk Business Management Tool–Case of European Countries. Quality-Access to
Success, 21(175).
Raut, and.et.al., 2019. Linking big data analytics and operational sustainability practices for
sustainable business management. Journal of cleaner production, 224, pp.10-24.
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