Functional Areas in Business: Skills and Knowledge Analysis

This report provides an overview of the functional areas within a business, emphasizing their importance for success in both domestic and international markets. It identifies key functional areas such as marketing, human resources management, customer services, finance, research and development, and sales, detailing the roles and responsibilities of each. The report also highlights the essential skills required for employees in each department, including data analytics, creativity, communication, problem-solving, and technical expertise. It concludes that a focus on developing these functional areas and skills is crucial for businesses to achieve profitability, productivity, and sustained growth in a competitive environment. Desklib provides students access to similar solved assignments and past papers for further study.

Functional area

Table of contents
Introduction......................................................................................................................................3
Business ......................................................................................................................................3
Functional areas of the business .................................................................................................3
Key functional areas of the business ................................................................................3
Various functional areas in business enterprises.........................................................................4
Skills required by the employees ................................................................................................5
Conclusion.......................................................................................................................................7
References........................................................................................................................................8

Introduction
The present report is based on the functional areas of the business in order to acquire success in
domestic as well as international marketplace. The report will mention the various functional
areas along with the skills and knowledge required by the individual person in order to grow.
Furthermore, the report will give an idea to enhance the skills in order to increase the profitably
and productivity in an appropriate manner.
Business
Business refers to the organizational or the commercial as well as professional activity in which
the people are engaged in the exchange of the services in order to satisfy the needs and wants of
the individual person (Baines, Fill and Rosengren, 2017) . In the business the individual person
sales the commodity to the people in order to gain profit and increase the production of the
company in effective as well as efficient manner. With the assistance of the business the
individual able to deliver unique image in the marketplace. Along with that the business improve
the standard as well as quality of life. Business is bifurcated into parts that can be profitable and
non-profitable.
Functional areas of the business
Functional area of the business refers to the people or the activity that included in the business in
order to accomplish the goal of the company in effective as well as efficient manner. With the
assistance of the functional area the company acquire success and able to survive in various
marketplace. Along with that it helps in developing goodwill in the marketplace. In the
functional area various department and the people of the sector contribute equally in order to
increase the value of the company in appropriate style. Due to availability of the functional area
the manger of the company is able to enhance the skills and knowledge of the people.
Key functional areas of the business
The key functional areas of the business that involve in the growth of the enterprises are
management, operation, marketing, accounting and finance (Collings and et.al 2018.) . The
individual person monitor and control all of this function in order to accomplish the aim and
objective of the organisation. Due to this hey function the company is able to focus on the taste
and preference or needs as well as wants of the people belongs to different region, areas, culture,
race etc.

Various functional areas in business enterprises
Marketing:
In order to acquire success and attract large numbers of the customers from different market such
as domestic as well as international market it is important to promote the business on large scale.
With the assistance of the marketing thee company is able to increase the sales and gnerate
revenue for the company (Hargie, Dickson, and Tourish, 2017) The marketing allows the
organisation to determine the taste and preferences of the consumers. The marketing is to be
done by delivering the online as well as offline platform such as social media like Facebook,
Instagram, gmail along with the advertisement on newspaper, billboard, radio television etc.
Human resources' management:
The HRM play crucial role in operating the business enterprises in adequate manner as the
department hire and fire the employees as per the requirement of the company. The people of
the department is responsible for providing training and development programmes to the
employees of the organisation. The department recruit the candidate that have the skills which
required by the job roles of the company. The sector mange the workers of the company in order
to enhance the probability and productivity of the organization.
Customer services:
This sector is responsible for providing the satisfaction of the customer by interacting or
communicating with the workers of the organization. The members of this department resolve
the issues and provide solution to the inquiries of the buyers in order to improve the brand image
in the marketplace. It plays essential role in managing the business relationship with the potential
customer in context to increase the sales of the company (Hutt and Speh,2021). The department
satisfy the consumer before and after purchasing the services and commodity of the company
that are offered in the marketplace.
Finance
The finance department is responsible for determining the expenses, profit and loss of the
company in effective as well as efficient manner. Along with that the department operate and
mange the accounts, audit, capital utilized in planning and organizing strategies of the company
in order to deal with the forthcoming challenges. The finance department shows the financial
values of the company in the marketplace that also improve the image of the company in
marketplace.

Research and development
It presents the assistance in delivering the competitive advantages in the market. the research and
development helps in determining the creative ideas in order to bring the innovation in the
company for attracting the customers from different areas. along with that provide help in
determining the demands of the marketplace. on the basis off this department the company
invent and introduce new product and services to the customer in order to satisfy the individual
person. the sector conduct research on the various tools and techniques in order to bring the
innovation (Maisiri, Darwish, and Van Dyk 2019)
Sales
This department play crucial role in increasing the probability and productivity of the company
in an appropriate manner. The sales department deliver the assistance in surviving in the demotic
as well as international marketplace. The organization is able to generate the profit due to high
sales of the company's product and services in the marketplace. The marketing and sales
department work with the ordination for the welfare of the company.
Skills required by the employees
for the smooth functioning of the company the employees or the workers need to work and
acquire adequate skills as per the job role of the individual person.
Marketing employees
the marketing department employees required the data analytics skills in order to acquire the
success in effective and efficient manner. With the assistance of the skills the individual person
is able to collect the information from the market to satisfy the customers in adequate manner.
Creativity skills is one of the essential skills because of the person is able to promote the
business and create impact on the customer. The creativity skills of a person allow bringing
innovative ideas for the business in order to increase awareness among the people.
human resources management employees
the human resources department people required problem solving as well as communicational
skills in order to bring the positive environment within the organisation. With the communication
the person is able to deliver the guidance to the right person in the right and appropriate manner
(Pride and et.al 2020) . Along with the problem solving skills the particular person is able to
satisfy the employees of the organization that encourage them to increase the productivity of the

company. Communicational skills help in experiencing the ideas and views with the other
members of the company and help in bringing the effective coordination and co-operation
customer services
the customer services required the motivational, communicational and time management skills
for performing the job role in appropriate manner. The communicational skills involve the ability
of speaking, listening, understanding the language and views of the customer in appropriate
manner. The motivational skills encourage the customers to buy the product and services of the
company in order to generate the revenue from the domestic as well as international marketplace.
With all of these skills the individual person is able to determine the taste and preferences of the
consumer in context to satisfy them. Along with that the workers are able to interact the buyers
easily for resolving their problems and issue in appropriate style.
finance employees
The financial profession required the knowledge and skills related to analytical thinking skills
that allow the organization or person to determine the financial stability of the company. Along
with that the company is able to compare the financial position with the other competitive
companies in adequate manner. Another one is the accounting skills that help in managing the
financial statement of the company that also includes determination of profit and loss as well as
expenses of the company (Wikhamn, 2019).
Research and development
the department consist of time management,communicational, problem solving and critical
thinking skills of the individual person. Through the assistance of the critical thinking skills the
person is able to determine the pros and cons of the business unit and allow the organisation to
perform batter in the domestic as well as international marketplace. The problem solving power
of person is allowed the individual to resolve or handle the difficult situation on the behalf of the
company in order to acquire the growth.
sales person
the sales person of the company required communicational, active listing and confidence skills.
In order to increase the sales of the company the individual person supposed to be confident
enough to interact with the customers and buyers of the company that help the organisation to
obtain the success for the long period. If the person is not confident enough in front of the buyers
then the buyers will lose interest in the production of the organisation.

Conclusion
From the above report it will be concluded that the business enterprises need to work on the
various department in order to acquire the success in the effective as well as efficient manner. In
order to gain profit from the market the company can focus on the various skills related to
different department for dealing the challenges for the long period. seven

References
Baines, P., Fill, C. and Rosengren, S., 2017. Marketing. Oxford University Press.
Collings and et.al 2018. Human resource management: A critical approach. Routledge.
Hargie, O., Dickson, D. and Tourish, D., 2017. Communication skills for effective management.
Macmillan International Higher Education.
Hutt, M.D. and Speh, T.W., 2021. Business marketing management: B2B. South-Western,
Cengage Learning.
Maisiri, W., Darwish, H. and Van Dyk, L., 2019. An investigation of Industry 4.0 skills
requirements. South African Journal of Industrial Engineering, 30(3), pp.90-105.
Pride and et.al 2020. Business. Nelson.
Wikhamn, W., 2019. Innovation, sustainable HRM and customer satisfaction. International
Journal of Hospitality Management, 76, pp.102-110.