Report on Functional Areas in Business and Required Employee Skills

This report provides an overview of key functional areas within a business, including marketing, human resource management, customer service, finance, research and development, and sales. It defines each area and explains its significance to the overall success of a business. Furthermore, the report details the types of skills needed by employees in each functional area, such as marketing, HR, customer service, finance, R&D, and sales, highlighting the importance of these skills for effective performance and achieving organizational goals. The report emphasizes the interconnectedness of these areas and their collective contribution to a company's profitability and growth.

World of Work

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
2.0 What is a business?....................................................................................................................1
3.0 What are functional areas of business?......................................................................................1
4.0 What are the key functional areas of a business?......................................................................1
5.0 Description of various functional areas in business organisations............................................2
5.1.Marketing...............................................................................................................................2
5.2.Human resource management................................................................................................2
5.3.Customer service...................................................................................................................3
5.4.Finance...................................................................................................................................3
5.5.Research and development....................................................................................................3
5.6. Sales......................................................................................................................................3
6.0 Types of skills needed through Employees...............................................................................4
6.1.Skills needed by Marketing employees.................................................................................4
6.2.Skills needed by Human resource management employees..................................................4
6.3.Skills needed by Customer service employees......................................................................5
6.4.Skills needed by Finance employees.....................................................................................5
6.5.Skills needed by Research and development employees.......................................................5
6.6.Skills needed by Sales employees.........................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
The decisions related to the ways for using business aspects in effective way for provision of
offerings to audiences that needs various persons for operating into diverse jobs into a group. As
business size as well as scale enhances, this implies simultaneous maximisation into the
difficulties of their product portfolio (Agba, Ocheni and Agba, 2020). Moreover, it even drives
towards development of functional areas which belongs to firms. Each functional area tends to
provide their specific as well as valuable contribution to company as whole. This report
highlights the various functional areas that pertinent to enterprise in addition with proficiencies
which are needed through staff for operating the business effectually into some entity’s
functional areas.
MAIN BODY
2.0 What is a business?
Business may be considered as the economical system in which products as well as services
are interchanged for money or money’s equivalent. Moreover, this is commercial arrangement
that is mainly intended at enhancing the profitability and incomes through considering
strategically plan of action additionally with competitive steps.
3.0 What are functional areas of business?
Functional areas may be undertaken as the group of persons that applicable to entity who
possess same types of competencies, proficiencies, capabilities and understanding. In this
respect, it have been determined that all business is composed of functional areas that perform
together in coordinating as well as cooperating with one another for attaining gainful results for
entity.
4.0 What are the key functional areas of a business?
All entity functioning into the limitations of economy in incorporated within group of
individuals based upon activities performed through them. Such grouping is performed for
providing raise for the concepts of functional areas into entity (Albrahim, 2020). Moreover, these
are essential for smooth operations of any entity at market areas. Additionally, this has been
determined that few of common functional areas into business are sales, finance, human resource
management, and others. Along with this, there are various other functional areas which related
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to firm but these are the one that are much vital for firm as well s therefore shape the entity’s
success.
5.0 Description of various functional areas in business organisations.
5.1.Marketing
Marketing is undertaken as one of the vital functional areas that incorporate practices
associated with business where exchange of offerings occurs. In this respect, this has been
understandable that marketing is vital functions within business as these aids in purchasing as
well a selling of goods. Moreover, this may be observed that each business priority is to attain
profitability margins as without this business cannot operates for longer period. In addition to
this, it has been determined that several businesses cannot sustain without effective strategies of
marketing (Brennan, Canning and McDowell, 2020). Additionally, the practices of marketing are
channels which aid them to interact with clients as well as garb the attention of consumers that
ultimately assists them to attain organisational objectives. Also, team of marketing is responsible
in order to promote the offerings and produced sales that aid them within organisational
development.
5.2.Human resource management
Human resource management is considered as the functional areas which mainly hold the
accountabilities for managing firm’s personnel. Moreover, the key intent of respective
department is to develop a stronger relationship among staff as well s employers so that
personnel may be committed towards on time attainment of business objectives. Additionally,
the team of human resource management hire staff for entity. Along with this, they has to assure
that employees chosen for firm have right competencies, experiences and qualifications that is
required through firm (Gammelgaard and Larson, 2020). Also, the team pertinent to human
resource functional areas focuses upon opting various activities that aids them to enhance its
sustainability into market areas. Few of common activities followed through HRM are
undertaken to be performance appraisal, recruitment, training and others that directly holds affect
upon staff as well as its capability for improving its operative activities as well as performance.
As outcomes, this is simple for entity or workers for attaining its objectives in per-determined
durations.
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5.3.Customer service
Customer service is also an essential functional areas that is developed for individuals
intent of facilitating support services to clients. Moreover, the aim of all business operations into
economy is to leads towards customer satisfaction from audiences for retaining them into firm
for longer durations in upcoming times (Goldman and Wong, 2020). Therefore, respective
departments keep clients at their heart as well as undertake whole possible measures for keeping
the clients happy at times. In addition to this, it is often observed that audiences tend for raising
questions or face problems related to offerings sold through entity. In this context, the functional
areas of consumer services facilitate instant responses with assistance of those clients issues may
be solved timely. Also, it aids them to preserve the loyal customer base and attract new one
towards firm.
5.4.Finance
Finance functional areas in all entity focused upon managing money associated with
business. Moreover, respective functional areas are accountable to develop appropriate budget
which do not only assists business to manage its monetary work in gainful way but at similar
times this also supports business in developing usages of available money in effective areas with
appropriate budget. In addition to this, each finance manager is also needed for emphasising
upon developing its knowledge towards key needs of overall departments into similar
organisation so that it may effectually formulate budget for same consequently. Along with this,
it also assists firm to forecast its monetary position which either they are into profitability stage
or at loss.
5.5.Research and development
Research & Development is considered as the functional areas that incorporate practices
that are considered with aim of introducing and innovating new offerings. Moreover, respective
department plays vital role in context to product life cycle. Also, this functional area is often
associated with other department such as sale marketing etc (Kirton, 2020).
5.6. Sales
Respective functional areas which are related with management of sales volume addition
with revenue gained through entity within longer period. In context of this, this is effective
which fundamentally intent of all entity since their incorporation is to enhance profitability as
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well as sales. Moreover, the enhancement into sales would automatically maximize chances of
profitability margins increment. Therefore, sales are undertaken to the effectual business
functional areas that aims to develop tactics with that brands awareness could obtain sudden
boost (Liao and Thomas, 2020). As fast the product is formulated, respective functional areas
raise as well as continue till time the whole manufacturing volumes is transformed into sales
volume. So, with assistance of this department, an entity becomes competent to target particular
customers from market place as well as develop sales to them through opting effective tactics.
6.0 Types of skills needed through Employees
6.1.Skills needed by Marketing employees.
Marketing department is basically accountable for formulating it's stronger reputation at
market area. For instance, this is highly essential for every marketing staff to formulate stronger
relation with audiences as well as maximize its performance of sales. Few of the common
competencies which would be needed through staff of marketing in order to implement it's task
in gainful way ate statistical, team working, stronger negotiation, influencing skills,
technological skills and others (Susskind, 2020). Within this, it could be described that staff
belonging to marketing functional areas should focus upon having these described competencies
as whole of them that collaboratively aids them in implementation of its activities in much
effectual way. Into this, it have been determined that stronger communications skills,
interpersonal skills and influencing skills that supports team of marketing head into improving its
optimistic relations with a audiences as well as also persuade them for making purchase from
similar firm in gainful manner.
6.2.Skills needed by Human resource management employees.
Human resources are mainly undertaken as the key assets of business that aids to
implement its pre determined objective which help them to become successful. So, the staffs
performing under this department have various competencies so that it may simply formulate
stronger relationship with employer and staff for facilitating many advantages for both aspects
(Lotrecchiano and Misra, 2020). Few key skills which are needed to be opted through human
resource staff into each firm are problem solving, multitasking, negotiation, conflict management
and others. In this they may be stated that existent of these competencies generally facilitates
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support for influencing the firm’s personnel for staying in firm and attain its objectives
effectively.
6.3.Skills needed by Customer service employees.
Basically, consumer services are needed for focusing upon solving consumers’ queries
with intent of developing audiences loyalty towards them effectively. So, while doing the same
to accountabilities, this is highly essential for consumer services staff to have appropriate
command over such competencies like active listening, effectual communication, quick thinking
and others (McGill, Ali and Barton, 2020). Through opting these skills this becomes simple for
respective department to support firm in order to attain success through simply solve workers
queries on time.
6.4.Skills needed by Finance employees.
Finance department work are little bit tough these individuals needs large focused so that
they do not get confused within their activities as wrong entry may take place. Therefore, few
skills which is needed through finance staff are financial reporting, analytic ability, knowledge of
technology and software and others. Through having these skills and stronger financial work aids
staff to contributes towards organisational success.
6.5.Skills needed by Research and development employees.
For conducting effective research related to firm, industry, competitors and others, their
staffs are needed to have stronger R&D related skills that ultimately aids them to identify
effective understanding which supports them to bring innovation (Monitor, 2020). So, the key
skills that are needed through respective department are reasoning skills, verbal communication
and others. Therefore, whole these competencies would have into R&D staff so that they can
able to perform their activities in appropriate and effective manner.
6.6.Skills needed by Sales employees.
There are various skills that sales staff should have such as rapport building, collaboration,
active listening, public speaking and others (Moore and Rudd, 2020). While having wholes these
skills assists sales employees to meet their sales targets at certain time period and enhance firm’s
profit.
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REFERENCES
Books and Journal
Agba, A.O., Ocheni, S.I. and Agba, M.S., 2020. COVID-19 and the World of Work Dynamics:
A Critical Review. Journal of Educational and Social Research, 10(5), pp.119-119.
Albrahim, F.A., 2020. Online Teaching Skills and Competencies. Turkish Online Journal of
Educational Technology-TOJET, 19(1), pp.9-20.
Brennan, R., Canning, L. and McDowell, R., 2020. Business-to-business marketing. SAGE
Publications Limited.
Gammelgaard, B. and Larson, P.D., 2020. Logistics skills and competencies for supply chain
management. Journal of Business logistics, 22(2), pp.27-50.
Goldman, J. and Wong, B.M., 2020. Nothing soft about ‘soft skills’: core competencies in
quality improvement and patient safety education and practice.
Kirton, G., 2020. Diversity and inclusion in a changing world of work. In The Future of Work
and Employment. Edward Elgar Publishing.
Liao, Y. and Thomas, D.C., 2020. Cultural Intelligence in the World of Work. Springer
International Publishing.
Lotrecchiano, G.R. and Misra, S., 2020. Transdisciplinary Knowledge Producing Teams: Team
Processes, Knowledge, Skills, and Competencies. Communication in Transdisciplinary
Teams, p.19.
McGill, C.M., Ali, M. and Barton, D., 2020, August. Skills and competencies for effective
academic advising and personal tutoring. In Frontiers in Education (Vol. 5, p. 135).
Frontiers.
Monitor, I.L.O., 2020. COVID-19 and the world of work. Geneva: ILO.
Moore, L.L. and Rudd, R.D., 2020. Leadership skills and competencies for extension directors
and administrators. Journal of Agricultural Education, 45(3), pp.22-33.
Susskind, D., 2020. A World Without Work: Technology, Automation and how We Should
Respond. Penguin UK.
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