Detailed Report: Functional Areas and Skills for Business Success

This report provides a comprehensive overview of functional areas within business organizations, emphasizing their importance and the skills required for employees to function effectively in each area. It covers key departments such as marketing, human resource management, customer service, finance, research and development, and sales, detailing their respective roles and responsibilities in achieving business objectives. The report further elaborates on the specific skills needed by employees in each functional area, including communication, adaptability, technical proficiency, and analytical capabilities. Ultimately, the report underscores the significance of these functional areas and the development of essential skills in driving business success and maintaining a competitive edge.

Functional Areas

Table of Contents
INTRODUCTION...........................................................................................................................3
What is a business?..........................................................................................................................3
What are Functional areas of business?...........................................................................................3
Description of the various functional areas in business organizations............................................3
Marketing...............................................................................................................................3
Human Resource Management...............................................................................................4
Customer Service....................................................................................................................4
Finance...................................................................................................................................4
Research and Development....................................................................................................4
Sales........................................................................................................................................5
Description of the types of skills needed by employees to be able to work effectively in these
functional areas................................................................................................................................5
Skills needed by Marketing employees..................................................................................5
Skills needed by Human Resource Management employees.................................................5
Skills needed by Customer Service employees......................................................................5
Skills needed by Research and Development employees.......................................................6
Skills needed by Finance employees......................................................................................6
Skills needed by Sales employees..........................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
There are various functional departments in an organisation those are together manage
the business and its functionality (Gitman, McDaniel and Shah, 2018). In order to run business in
successful manner John needs different skills and proficiency so that he can manage the business
in effective manner. In the current report such areas are highlighted in which John needs
development so that he can run his company in effective manner. Under this report various
models are also used which are helpful in gaining knowledge regarding how to manage the
business.
What is a business?
A business is defined as an ecosystem which is engaged in the activities of selling or
producing and various commercial activities as well. Businesses are working for the sole motive
of earning profits and to satisfy needs of people.
What are Functional areas of business?
In order to manage business activities there are various functional areas which are
associated in the business and helps the business to acquire prominence in activities. There are
major four functional areas such as marketing, human resources, finance and sales management.
These areas are managing business functionality and assist the business to deal with various
business complexities.
Description of the various functional areas in business organizations
Marketing
Marketing is a process of creating and producing effective ideas for promoting products
and services in market. It helps in exchanging, communicating, creating and delivering value to
customers in order to increase customer base (Heffner and Gibas, 2016). Marketing is important
for organization as it helps in sharing the products and services with target audience. IOM must
have marketing department in its business as it helps in defining and managing the brand and
also they help in creating content providing search engine optimization for website. The purpose
of marketing department is to increase the profitability and productivity of business by producing
creative ideas for reaching to large number of audience.

Human Resource Management
Human resource management plays an important role in organization as they manage the
journey of employees within workplace. The main motive of human resource management is to
hire right candidate according to their qualification and experience (Gök, Hacioglu and Peker,
2018). They are responsible for recruiting candidates, processing company payroll, designing
and updating existing company policy and also maintaining employee records. IOM must focus
on developing effective human resource management team so that they can hire the right
candidate for the right job and also conduct analysis of employee benefits.
Customer Service
Customer service is another functional area of business which is responsible for handling
the queries and providing better experience to consumers. They play an important role in
organization as they support customers and also ensure that they feel satisfied with the services.
IOM must have strong customer service who can manage the queries and problems of customers
related to the electronics product and provide them better services that help in creating strong
customer base (Zeebaree, Shukur and Hussan, 2019).
Finance
The finance department of organization plays an important role as they manage the cash
flows and other activities related to finance. IOM Electronics must have finance team in its
company so that they can manage the payment of salary, cash inflows and outflows, payment of
bills and wages, etc. The finance department helps in providing information to management and
also examines the financial statements and reporting. They also focus on preparing budget and
forecasting.
Research and Development
Research and development is also a functional area of business which mainly provides
insight information of the market. They focus on producing new and creative ideas for delivering
goods and services to consumers. Research and development department helps business to stay
relevant, promote innovation, provide effective customer service and control the quality of goods
and services. It is important for IOM Electronics to have strong research and development team
that can identify the needs and wants of consumers and offer them products and services
according to their taste and preference.

Sales
Sales department play a vital role in improving the profitability and performance of
business. They generally have direct link between the products and service of company and
customers. IOM Electronics must have sales department so that they can attract maximum
number of audience by using various tools of sales such as discounts, coupons and offers.
Description of the types of skills needed by employees to be able to work
effectively in these functional areas
Skills needed by Marketing employees
Marketing employees are needed to have adaptability so that they can analyse the market
trends and set standards for their own. Besides this, these employees are required to be apt at
their communication skills so that they can connect with customers in appropriate manner and
gain fruitful results as well (Cook, 2017). Time management is another skill which is needed
within marketing employees so that they can strictly adhered to timelines and their schedules.
These employees are need to have creativity so that they can they can actively portray regarding
their product and services to customer in order to lead positive buying decision.
Skills needed by Human Resource Management employees
Communication is the major needed skill within human resource management employees
so that they can understand and solve grievance of other working employees. Human resource
department is directly connected with employees as they are handling various tasks such as
salary negotiation, conflict resolution and many more. So with the help of appropriate
communication skills HR department may easily provide information to employees. On the other
hand employee within human resource department is needed to have technical skills so that they
can work over technical devices such as computer and manage their working.
Skills needed by Customer Service employees
For computer service employees the major skill is to have ample knowledge regarding
their field so that they can deal with their routine work over the workplace. Besides this decision
making is another skill which is needed by customer service employees in order to manage their
functions and to continuously provide appropriate services to the organisation (Anderson,
Chandy and Zia, 2018). Within an organisation customer service is associated with an essential
department and to manage business functions appropriately as well.

Skills needed by Research and Development employees
Department of research and development is associated with managing innovation within
products by understanding needs and demands of customers. In this manner for employees of
research and development department the major needed skill is related with thinking and
reasoning as by this they can develop sense of understand ability within themselves in order to
acquire the same within business offerings. On the other hand, the employees are having ability
to take initiative to start something and develop new aspects for the business. Similarly these
employees are needed to have analytical skills so that they can analyse various aspects and deal
with business situations as well.
Skills needed by Finance employees
For employees of finance the major needed skill is related with having knowledge of
finance so that they can execute their roles and responsibilities without facing prominent issues.
On the other hand, they need to have interpersonal skills so that they make develop exceptional
leadership and provide succession opportunities to the organisation. They must have knowledge
in the most up to date programs, going above and beyond to excel in the specific tools and
platforms that are relevant to the industry (Singh, Kumar and Puri, 2017). The most coveted and
respected financial professionals are those that drive themselves forward through leadership and
motivation. By having such skills employee within finance department may contribute the
organisation in decision making and succession as well.
Skills needed by Sales employees
Employees within sales department are directly having communication with customers so
active listening is the skill which is needed within sale department so that they can understand
needs of customers and the business simultaneously. On the other hand, team working is also
most essential skill which is needed within sales employees so that they can work within the
team and acquire good results. By maintaining positive attitude team working can be improved
and this is one of the greatest aspect for the business to manage their business and acquire
success as well.
CONCLUSION
From the above detailed information this can be concluded that there are various
departments within an organisation and in order to manage them several people are appointed.

These people are having roles and responsibilities to execute various functions so that to manage
the business and to provide appropriate dealings to the business. There are various skills which
are needed by the employees of various departments and by developing such skills the
employees may work efficiently towards leading the business to touch new succession heights.

REFERENCES
Books and Journals
Anderson, S.J., Chandy, R. and Zia, B., 2018. Pathways to profits: The impact of marketing vs.
finance skills on business performance. Management Science, 64(12), pp.5559-5583.
Cook, S., 2017. Measuring customer service effectiveness. Routledge.
Gitman, L.J., McDaniel, C. and Shah, A., 2018. Introduction to business. Rice University.
Gök, O., Hacioglu, G. and Peker, S., 2018. Decision influence of the marketing department in the
organization: An emerging country perspective. JEEMS Journal of East European
Management Studies, 23(1), pp.30-54.
Heffner, K. and Gibas, P., 2016. Functional areas in the regions and their links to scope sub-
regional centres impact. Studia Regionalia, pp.27-39.
Singh, R., Kumar, N. and Puri, S., 2017. Thought self-leadership strategies and sales
performance: integrating selling skills and adaptive selling behavior as missing
links. Journal of Business & Industrial Marketing.
Zeebaree, S.R., Shukur, H.M. and Hussan, B.K., 2019. Human resource management systems for
enterprise organizations: A review. Periodicals of Engineering and Natural Sciences
(PEN), 7(2), pp.660-669.