IOM Electronics Ltd: Functional Areas, Skills, and Business Analysis

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This report provides a comprehensive analysis of the functional areas within a business, specifically focusing on IOM Electronics Ltd, a company based in Manchester. It defines what a business is and delves into the key functional areas such as marketing, human resource management, consumer service, finance, research and development, and sales. The report describes the roles and responsibilities within each functional area and outlines the essential skills required for employees to perform effectively. For instance, marketing employees need strong communication skills, while finance employees require analytical and critical thinking abilities. The report concludes by emphasizing the importance of these functional areas in achieving managerial targets, profitability, and overall business success. Desklib offers a variety of similar reports and study resources for students.
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Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
What is a business.......................................................................................................................3
What is Functional areas of business – Definition......................................................................3
What are the key functional areas of a business?........................................................................4
Description of the various functional areas in business organizations.......................................4
Description of the types of skills needed by employees to be able to work effectively in these
functional areas...........................................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................8
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INTRODUCTION
The managerial structure is termed as an essential concept of the business in the
functional division that are accountable for certain operation in the business. Candidates are
basically get recruited to perform their work in their varied course of sections at functional areas
of the management such as marketing, operations, human resource management and finance.
Each and every division covers staff members who utilise their skills and expertise to accomplish
global manner of targets of management by applying their abilities and skills (Chelli, and et.al.,
2021). The organization cover in this report is IOM Electronics Ltd. It is situated in Manchester.
The following report covers functional areas of business in terms of marketing, human resource
management, consumer service, finance, research and development and sales. As on the other
side, it involves sort of skills that are required in candidates for performing their role of work in
varied functional areas like skills required by marketing candidates, human resource
management candidates, customer service employees finance candidates, research and
development candidates, sales candidates.
TASK
What is a business
Business will relates to the management or organization that involves technical orientated
field or professional course of field. The management might be for profit section or it will be
termed to non profit management that functions to accomplish their aims. It exist in technical,
industrialised or professional courses of actions. The business of management frequently need
business plan before initiates their functions. The business plan is a formal statement that present
the road map of managerial targets and aims (Guadagno, and et.al., 2021). Business also
maintain several tactics and strategies that will define their ways to accomplish their global field
of manner. As there are several sort of business structures such as sole proprietorships,
partnership, corporations, limited liability company.
What is Functional areas of business – Definition
Functional areas are termed to the candidates who have same sort of abilities and skills.
As on the other side, the managerial sales division is a common functional field and the staff in
this field will be concentrates towards their managerial goods and services. As there are two
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functional concept that describe groups of abilities and exercises that are formed by the division
in the business in respect to accomplish their targets and aims.
What are the key functional areas of a business?
As in respect to IOM Electronics Ltd management, there are several sections in the
functional fields of an organization that covers various orientated field in human resource
functional area, production office management area, financial organization field, marketing
organization field, information technology field (Kim, and et.al., 2021). The functional area will
also termed as operational management area that are the basic 5 functional fields of the business
that supports the business in accomplishing their objectives in a fewer period of time. It is an
essential term for the business to concentrate towards functional fields in respect to become
successful and get high competitive benefits in the field of marketplace.
Description of the various functional areas in business organizations
As there are various functional areas of the management that will support the business to
perform their function effectively in the field of marketplace. As it also involves human resource
who will support the company to hire potential individuals in accomplishing their targets and
aims of the business. As there are various functional fields of the business that covers accounting
and financing also, that will maintain their monetary fund and other decision making procedure
in terms of financial stability of the business. As there are various field in the functional areas
that are promoting and advertising their managerial goods and facilities in respect to gain high
competitive benefits (Liang, He, and Guo, 2021). As along with it, the information
technologies is the field that will help the management to adapt various techniques in respect to
connect and deal with their consumers in a suitable way.
Marketing - Marketing is the functional area that helps the management to advertise
their goods and facilities in the field of market in respect to get more opportunities in the
marketplace. It develop high set of consumers in the business. In respect to have effective
management they should utilise the digital marketing, social media mediums in respect to
communicate with their consumers and resolve their issues. Hence, they can create high
and effective dealings with their consumers in respect to maintain further potential
dealings in the field of market.
Human Resource Management – It is a functional field of the business that will support
them to get effectively talented individuals in the business and offers them accurate
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training and growth programs in respect to increase their abilities. They can provide high
positive results towards the management.
Consumer Service - Consumer service are an essential term for the business in respect to
solve the issues of the consumer and ascertain the dealings (Quashie, and et.al., 2021).
They will create high sections for their consumers to get high set of opportunities in
respect to increase their goodwill.
Finance – It support the management to manage the financial stability of the business
and it will aid them to manage the cost effectiveness and managed the budget of the
business in respect to manage the natural resources of the business.
Research and Development - Research and development area will support the
candidates to increase their skills by demonstrating the manner of training and growth
programs. Hence, they can increase their skills as effectively.
Sales – It is an essential term in the business that create the business logistic as per to the
sales demands from the side of consumers.
Description of the types of skills needed by employees to be able to work effectively in these
functional areas
Skills needed by Marketing employees – As there are various sort of the resources that
should acquired by marketing employees while dealing with their consumers (Srivatsav,
and Kapoor, 2021). As it is essential for them to implement their action plan to
accomplish higher number of consumers. As with that, it has been necessary for them to
have suitable communication abilities in respect to deliver their product related message
to their consumers.
Skills needed by Human Resource Management employees – It involves various sort
of abilities that are needed to execute by human resources management candidates and
their strategies to recruit potential individuals in the management. As with that, it is
essential for them to maintain the issues and problem solving abilities and revised
communication that are presented in respect to raise candidates by providing training to
them.
Skills needed by Customer Service employees – As there are several abilities that are
essential for management's gross sales such as listening and time management abilities,
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relationship building abilities, strategic potential skills that are essential for them in
respect to deal with their goods and facilities in the field of market.
Skills needed by Finance employees - There are various abilities needed that are critical
thinking knowledge in terms of managing company accounts. Employees should have
capabilities for preparing business reports to examine their performance (Vanitha, and
et.al., 2021). As with that, it is essential for them to have analytical skills and research
abilities in respect to take suitable decisions and manage the further financial stability of
the business.
Skills needed by Research and Development employees - It involves skills that are
important to maintain the research and development activities with verbal set of
communication abilities and skills to train effective candidates. It is necessary for them to
have research and thinking skills and pay attention towards their learning sessions in
respect to offers suitable manner of knowledge to their employees.
Skills needed by Sales or consumer service employees As there are several
consumers services abilities that are needed by management to hold their consumers for
longer period of time. It is highly essential to use positive and humble language while
dealing with consumers. It is also required that they should have clear communication
abilities and self control in respect to maintain their roles and responsibilities. As with
that, it is essential for them to have sufficient sense of knowledge about the business in
respect to resolve the sections of their consumers in an effective way.
As there are varied sort of abilities that are needed by the management in the functional
areas in respect to get success and get higher set of benefits. All such actions helps the business
to increase their skills in respect to overcome the issues and conflicts by which they can improve
their efficiency and effectiveness and get competitive benefits in the field of market (Pantea,
2021). It covers functional fields such as marketing, human resource management, sales, finance,
research and development, sales or consumer services that are termed as an essential course of
activities. They plays an important role in the business in order to increase managerial
productivity and profitability of the business.
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CONCLUSION
From the above mentioned report it has been concluded that, it involves the fundamental role of
functional areas to make sure each and every managerial actions in the business. It is important
to evaluate that the management is able to accomplish its targets and goals. In respect to certain
fields, the management are utilising several particular sort of targets in order to gain higher term
of profitability and productivity in the business of management.
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REFERENCES
Books and Journals
Chelli, S., and et.al., 2021. Large standard trees and deadwood promote functional divergence in
the understory of beech coppice forests. Forest Ecology and Management, 494,
p.119324.
Guadagno, L., and et.al., 2021. Functional structural nanocomposites with integrated self-healing
ability. Materials Today: Proceedings, 34, pp.243-249.
Kim, D.I., and et.al., 2021. A highly sensitive quartz crystal microbalance sensor assisted with
ZnO nanosheets for nerve agent detection. Functional Materials Letters, p.2151020.
Liang, Y., He, J. and Guo, B., 2021. Functional Hydrogels as Wound Dressing to Enhance
Wound Healing. ACS nano, 15(8), pp.12687-12722.
Quashie, F.K., and et.al., 2021. Efficiency and key functional genera responsible for
simultaneous methanation and bioelectricity generation within a continuous stirred
microbial electrolysis cell (CSMEC) treating food waste. Science of The Total
Environment, 757, p.143746.
Srivatsav, A.T. and Kapoor, S., 2021. The Emerging World of Membrane Vesicles: Functional
Relevance, Theranostic Avenues and Tools for Investigating Membrane
Function. Frontiers in Molecular Biosciences, 8.
Vanitha, C.N., and et.al., 2021. A Methodical Procedure for Home Autonetics System Using
Internet of Things with Multi-functional Sensors. Advances in Automation, Signal
Processing, Instrumentation, and Control: Select Proceedings of I-CASIC 2020, 700,
p.261.
Pantea, M.C., 2021. Beyond skills: Facets of mobility in Romania’s vocational education and
training. The Palgrave Handbook of Youth Mobility and Educational Migration, p.283.
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