Report on Functional Areas in Business Management BMP3004

This report provides an overview of the key functional areas within a business, including marketing, human resource management, customer service, finance, research and development, and sales. It defines a business and its functional areas, highlighting the importance of each department in achieving organizational objectives. The report details the responsibilities of each functional area and the skills required for employees to perform effectively, such as communication, analytical, and management skills. It emphasizes the interrelation between these departments and their collective contribution to the company's success, growth, and stability. Desklib offers this and many more solved assignments for students.

Business Management with Foundation
BMP3004
World of Work
Functional Areas
Submitted by:
Name:
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Contents
1.0 Introduction p
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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
7.0 Conclusion p
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References p
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1.0 Introduction
A business is basically an entity in which the different activities like
commercial or industrial has been carried out by group of peoples. The first and
foremost objective of all the business organization is to earn more and more profit.
The goods and services which have been produce by the organization are according
to the need demand of the consumer(Barkela, 2021) . The following report is going
to offer information regarding John' request which help them in understanding the
role and responsibilities of the different key functional areas like R&D, marketing,
operational and many more. This report also give overview on the various skills and
knowledge poses by the employees of these department to effectively carry out the
task. After a comment has been given on how these functional interrelate with each
other.
2.0 What is a business?
In simple terms the business is the activity of generating more and more profit
by doing the various activities. Business can be profit motive or non profit motive and
of many types like sole proprietorship, company, partnership and many more.
3.0 What is Functional areas of business - Definition
Decision making, planning, communication and coordinating is being
considered the most important actions which help in effectively run the business
organization(Ferwati and et. al., 2021). The activities of the business organization
has been divided into various number of department which help in managing all
these actions in a very effective manner. The structure of the business is totally
depend on their size and type and according to this the roles of the different
department has been described. In addition to this without communicating with each
other they can cannot achieve the set objectives of the firm.
4.0 What are the key functional areas of a business?
The key functional ares of business are marketing, finance, operations, customer's
service, human resource, sales,etc.
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5.0 Description of the various functional areas in business
organizations
5.1 Marketing:
Marketing is being considered as one of the most important function of the
business because the stability of the company in the market is totally depend on this
department. Promoting the company product and developing good image in the
market is the most important function of this department. In addition to this market
research and developing the effective campaigns is also be the most important
function of this area. The employees of these department is directly connected with
their customer's due to which they are able to grab the opportunities in a very
effective manner. In order to stand in the market for a long period of time the
company must have to adopt social or digital marketing techniques. With the help of
these techniques good relation with their customer has been developed.
5.2 Human Resource Management:
The employees of the HRM department is being considered as the
fundamental assets of the company. As main function function of these departments
to hire the talented and skillful employees according to the requirement of the
different department of the company(Hong and Yao, 2019). In addition to this
activities like developing training program and benefits related to the employees and
may more has been performed by the employees of these department. The
achievement of the goals which are set by the higher authorities of the company is
totally depend on the skills and talent posses by the employees of the company. The
talented workforce which are hired by this department perform all the activities of the
company in a very effective manner and attain all the objectives of the company.
Along with this the productivity of the company has also been improved.
5.3 Customer Service:
The services which are given by the company to their customer after
purchasing the product came under this department. The employees of these
department is responsible for providing help to their customer. In order to increase
the base of solid loyal customer, company make their client comfortable and
understood. The services which are provided by them will be remembered by their
customer. It is very important for them to provide good services to their customer
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because the employees of these department is being considered as the face of the
company. The workforce which is being hired for this department must be talented
and smart. By solving the problem of customer in a very positive manner they can
increase the sales of the company.
5.4 Finance:
This department is also being considered as the most important department of
the company. All the transaction which is related to money id control and manage by
this department. In addition to this, developing various sources of fund, manage the
account of company and many more functions has been performed by the
employees of these department. The stability and growth of the company is also
depend on this department(Liu and et. al., 2020). Along with this the decisions
related to the investment is also being taken by the employees of these areas in a
very effective manner. The objective of this department is to effectively manage the
fund distribution system of the company. For minimizing the risk and errors in
recording the transactions, they must have to use latest technology with in their
business.
5.5 Research and Development:
The research which have been conducted by the marketing department is
very beneficial for this department. The report which have been received by the this
department helps them to make changes in the company product. Launch new
product or make changes in the existing according to the need of the market is being
considered as the main function of this area. If company wants to enjoy competitive
advantage over their rivals then the effective functioning of this department is very
important. Different strategies and policies has been made by employees for
improving the product and services of the company. So to stand in the market
company must have to innovate their product.
5.6 Sales:
In business language sales means exchange of company goods and services
in terms of money or any other financial instruments. Basically there are two types of
sales i.e. cash sales and credit sales(Shao, Liu and Lu, 2021). The profitability of the
company is depends on the employees of these department. The main motive of the
employees of this department is to convert the need into sale. For this purpose
skillful and talented people has been hired who effectively do these activities.
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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:
 The effective communication skill is being required within the employees of
these department(Sheppard, Yeon and London, 2018). With the help of this
skill they are able to express the advantages of the product to the user in a
very effective manner.
 The employees of this department must have to analyses the problems of the
consumer in a very proper manner and by solving their problem they can
increase the sales of the company product.
6.2 Skills needed by Human Resource Management employees:
 The workers of these area must possess the calmness, patience and extra
ordinary tolerating power. With the help of these skills they can effectively
manage the employees of the company and resolve the conflicts between
them.
 The negotiable skill also have to posses by the employees of these areas.
Negotiate with the employee in their salaries or in many more activities
benefits the company.
6.3 Skills needed by Customer Service employees:
 Excellent communication skill is very much needed for the employees of this
department. Services like conveying the benefits of the product and after
sales services has been done in a very effective manner with the help of this
skill.
 Another skill which is being posses by the employees of this department is
empathy. Point of view and emotions of the customer's can be effectively
understand by the employees with the help of this skill. Which ultimately
reflects on the sales of the company.
6.4 Skills needed by Finance employees:
 The possession of analytical skill within the employee's of this department
help them to drive a effective solutions for the different problems as fast as
possible. With the help of effective solutions productivity has been
increases(Varela-Candamio, Calvo and Novo-Corti, 2018).
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 As the employees of these department have to record the transaction or have
to make the financial report so they must have proper accounting skill.
6.5 Skills needed by Research and Development employees:
 Management skill is very much important for the employees of this areas
because this help them to divide their task and complete the task within time.
 Research skill also posses by the employees of this area as by doing effective
research they can analyses the market trends which help them in innovating
their product.
6.6 Skills needed by Sales employees:
 The employees of these department must posses the positive attitude. With
the help of this skill they can confidently convey the features and benefits of
the product to their consumer.
 Understanding the consumer need is very important and to do this activity in
a very effective manner active listing or good listening skill has been in the
employees of this department.
Conclusion
From the above report it has been concluded that the activities of the
business has been depended on the nature and size of the company and employees
of this department effectively perform these activities. The employees of each and
every department has been assigned with specific responsibilities but they are
interrelated with each other. In this report skill needed by the employee's of every
department has also been concluded.
References
Books and Journals
Barkela, B., 2021. Leadership Communication with Multiple Managers and Its
Influence on Internal Integration of Different Functional Areas. In Conference
Proceedings Trends in Business Communication 2020 (pp. 1-18). Springer
Gabler, Wiesbaden.
Ferwati, M.S and et. al., 2021. A Quality Assessment Directory for Evaluating Multi-
functional Public Spaces. Architecture and Urban Planning, 17(1), pp.136-
151.
Hong, Y. and Yao, Y., 2019. Hierarchical community detection and functional area
identification with OSM roads and complex graph theory. International
Journal of Geographical Information Science. 33(8). pp.1569-1587.
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Liu, X and et. al., 2020. Identification of urban functional regions in chengdu based
on taxi trajectory time series data. ISPRS International Journal of Geo-
Information. 9(3). p.158.
Shao, S., Liu, H. and Lu, L., 2021. A Method of Discovering Urban Functional Zones
Based on POI Feature Vector and Network Kernel Density. In Human-
Centered Urban Planning and Design in China: Volume I (pp. 147-162).
Springer, Cham.
Sheppard, B., Yeon, H. and London, S., 2018. Tapping into the business value of
design. The McKinsey Quarterly.
Varela-Candamio, L., Calvo, N. and Novo-Corti, I., 2018. The role of public subsidies
for efficiency and environmental adaptation of farming: A multi-layered
business model based on functional foods and rural women. Journal of
cleaner production, 183, pp.555-565.
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