Report on Functional Areas & Skills for Effective Business Operation

This report provides a consultancy to John for running IOM electronics Ltd, focusing on the major functional areas within a business organization such as management, operations, marketing, finance, and accounting. It details the roles each area plays in ensuring business efficiency and effectiveness. The report also identifies crucial skills employees need to excel in these functional areas, including communication, leadership, business networking, management, sales and marketing, and financial management. It emphasizes the importance of these skills for fostering teamwork, problem-solving, customer relations, and overall organizational performance. The analysis concludes that understanding these functional areas and cultivating the relevant skills among employees are essential for the successful management and operation of IOM electronics Ltd. Desklib provides access to similar reports and study tools for students.

World of works

TABLE OF CONTENT
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Different functional areas of business organization.....................................................................3
Describing the different types of skills needed by employees for effectiveness in functional
areas.............................................................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
The world of work which involves the business has certain major functional areas which
are present in the business management involving strategy, marketing, finance, human resources,
technology and equipment and operations. In this report the consultancy is provided to John for
running the newly bough business of IOM electronics Ltd which has 200 employees. This
project will discuss the functional areas in the business organization. This project will also
discuss the types of skills which are required for being able to work effectively and efficiently in
the functional areas.
MAIN BODY
Different functional areas of business organization
There are various different types of functional areas in the business organization which
performs and regulates the business with their different functions. These are performed and
controlled by the different parts of the business (Wang and et.al.,, 2021). For the separation of
the business operations the functional areas allow the business with each of its operations and
help in building efficiency and effectiveness across the business as a whole experience. In IOM
electronics Ltd the functional areas of the business organization will be as such,
MANAGEMENT :
To the success of every business there is a management which supervises the
performance of other individuals with the help of its following functions,
Planning :
In this function the management plans the long term goals of the organization along with
the short-term strategies which will help the business in achieving that goal.
Organizing :
Managers in the organization have the responsibility to organization the operations of the
business and be most efficient by allowing the business to use its resources effectively.
Controlling :
Most of the efforts and time of management is utilized in the controlling the activities
within the business itself and ensure that the organization is one the right track towards achieving
its goals (Kudłacz and Markowski, 2018.).
Leading :

The managers try to serve as the leaders of the organization as they want to show their
effectiveness in the practical ways. Leading the organization helps the groups new process for
the development of a new product.
OPERATIONS :
This is the area in which the efforts of the business converts its output into the finished
products with the help of pumping out the goods and services in a quantity and quality for
meeting the needs of its customers. Individual who is the most responsible for seeing day to day
business operations can be considered to be the operational manager which produces the tangible
goods.
MARKETING :
Marketing is the activity which the company does towards the identification of its
customers. It helps in designing products and services which are required for meeting the needs
of the customers. In a business with the help marketing organization can get its products to help
the business attract the customers and their products (Aggabao and Alyammahi, 2017). In this
business which has its main operations for the production electronic products. Therefore, its
main operations in marketing is towards how the product of this company will help the
customers in the use of technology. This is the era which is data driven and the environment of
this organization is responsible for building the insight company's internet existence. Social
media marketing is also a very effective way in which this business will be able to easily reach
the customers.
FINANCE :
Financial functions involve planning for obtaining of managing communication of both
the short-term and long-term financial management. This is also the factor which helps in the
analysation of the impacts the borrowing will be having on the financial well-being of the
business. The financial department answers many queries of how the business can be able to
raise the funds (Cherchata, 2019). It can be said that it's the responsibility of the financial
department to ensure the efficiency of the expenses incurred by the business.
ACCOUNTING :
The accounting is yet another functional area of the business which help the organization
in the management of the informations which is required for making the allocation of the
company resources. These financial accountants are the ones which are the most responsible for

providing the information regarding the costs, budget and asset allocation which helps the
business in the management of the performance appraisals for internal use of management for the
purpose of decision-making (Adeyinka-Ojo, 2018).
Describing the different types of skills needed by employees for effectiveness in functional areas
There are different skills in the employees which can make them effective in the
functional areas of the business.
Communication skills :
The communication is that basis of interaction in any workplace which is very essential
for the employees in the mediation of the spread of ideas and innovation which helps the
business in the effectiveness in their functional areas. The communication of as skills is
considered to be the most demanding skills which helps the business the development of
effectiveness in the charm for helping the business in the supplying and securing the investment.
In each and every functional areas of this organization the communication is very important for
the organization. Communication helps in expressing and also develop interactive skills which
makes them comfortable for teamwork.
Leadership skills :
This is the skills which is the art of persuading and managing the people for the aim of
achieving a set of goals and objective. For the employees of IOM electronics Ltd this skill is
essential because it helps the employees to manage other employees for leading the team which
is the part of a functional area to success. Those employees which are rich with this skill are seen
to be more inspiring and motivational than others (Temelkova, 2018). Leadership skills does not
always mean that the organization needs to manage its employees. It can be said that with the
help of leadership skills the employees are also able to understand their responsibility at work
and develop honesty with problem solving abilities.
Business networking :
Networking is an ability which allows the business to create and convert sales
opportunities. It is considered to be one of the most efficient ways in which the business can lose
the low-cost ways for the creation sales opportunities which can be useful for the businesses to
be successful in the market. Those employees which are rich in the marketing skills are very
precious to an organization as they help the business in the utilization of the social media f or the
being effective in the promotions of their business. Networking skills help the employees to also

connect with the customers which develops good customers relations between the organization
and the company.
Management skills :
Management which is one of the most important functional areas of the business thus, it
is very essential for the employees of this organization to have the management skill in their
arsenal. Management skills is not just the skills which are important for the leaders of the
organization it is also considered that those employees which have strong management skills are
able to manage their own work (10 Business Skills for Success in the Workplace, 2021). This
leads to efficiency in their work and for the business it results in consistency of the organization
performance and quality. This factor of the business helps the organization in making sure that
the company is heading in great vision and mission state which is considered to be the role which
the employees play within the department for the achievement of their personal objectives.
Sales and Marketing :
Having sales and marketing skills in the employees also help the business in the
development of the marketing approach which is considered to be intentional for competitive
performance and marketing approach. The skill of selling is very effective skill which allows the
employees to create business for the company (Angrisani and et.al.,, 2020). This is the most
essential and productive skill a company wants in its employees which are in the sales
department. Marketing skill in an employee is also very similar to the selling skills they it also
helps the employee to gain confidence of the customers towards the organization. This is the
reason why the importance of both marketing and selling skills is very crucial for the employees
to have in IOM electronics Ltd.
Financial Management :
This is the skills which allows the employees in the management of the critical and
analytical thinking which is help the employees with understanding the importance of cost
reduction in their practices. The part of the functional area in which the business is able to
develop effectiveness in the management of the organization finances is considered to be very
crucial for the business to increase its efficiency.

CONCLUSION
With the help of this business it can be concluded that the John needs to understand the
functional areas of the business for the management of the employees and ensure that they have
the skills required for effectiveness in the performance. In this project the different functional
areas of the business has been discussed. This project also helps in understanding the skills
which the employees require for developing effectiveness in the discussed functional areas.

REFERENCES
Books and Journals
Adeyinka-Ojo, S., 2018. A strategic framework for analysing employability skills deficits in
rural hospitality and tourism destinations. Tourism Management Perspectives. 27.
pp.47-54.
Aggabao, B. A. and Alyammahi, H. S., 2017. Functional areas and organizational performance
of adco. European journal of economics and management sciences. (4).
Angrisani, L., and et.al.,, 2020. A “learning small enterprise” networked with a FabLab: An
academic course 4.0 in instrumentation and measurement. Measurement. 150.
p.107063.
Cherchata, A. O., 2019. PROJECT MANAGEMENT IN BUSINESS: APPLICATION IN THE
CONTEXT OF INTERACTION WITH FUNCTIONAL AND PROCESSING
APPROACHES. Scientific Bulletin of Ivano-Frankivsk National Technical University
of Oil and Gas (Series: Economics and Management in the Oil and Gas Industry). (1
(19)). pp.172-179.
Kudłacz, T. and Markowski, T., 2018. The territorial capital of urban functional areas as a
challenge for regional development policy: An outline of the concept. Zarządzanie
Publiczne/Public Governance. (2 (44)). pp.41-55.
Temelkova, M., 2018. Skills for digital leadership-Prerequisite for developing high-tech
economy. International Journal of Advanced Research in Management and Social
Sciences. 7(12). pp.50-74.
Wang, Y., and et.al.,, 2021, June. Temporal Attention-Based Graph Convolution Network for
Taxi Demand Prediction in Functional Areas. In International Conference on Wireless
Algorithms, Systems, and Applications (pp. 203-214). Springer, Cham.
Online
10 Business Skills for Success in the Workplace, 2021 [Online]. Available through:
<https://virtualspeech.com/blog/business-skills-for-success-in-the-workplace>