BSc Business Management BMP3004: Functional Areas at IOM Electronics

This report examines the functional areas of IOM Electronics, a regional company with 200 employees across two sites. It defines business and functional areas, discusses various business functions such as marketing, human resources, customer service, finance, research and development, and sales, and highlights the skills required for employees to work effectively in these areas. The report emphasizes the importance of each functional area in achieving business goals and maintaining smooth operations, with specific examples related to IOM Electronics. Skills such as interpersonal, forward planning, problem-solving, financial decision-making, analytical, and communication skills are identified as crucial for employees in different functional roles to contribute effectively to the company's success. The conclusion reinforces the importance of implementing and managing these functions to achieve desired business outcomes.

BSc (Hons) Business
Management with
Foundation
BMP3004
World of Work
Functional Areas
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Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Definition of business.................................................................................................................1
Concept of functional areas of business practices.......................................................................1
Understanding of various functional areas that are present in companies..................................2
Knowledge of various kinds of skills that are required by employees which are capable to
work effectively in functional areas............................................................................................3
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
As functional areas are considered to teams of employees that performs same types of
skills as well as expertise. As functional areas of companies are said to be various units of
company of operations, finance, human resources, sales that are needed to be carried by
companies for having success as well as effectiveness of carrying out work for achieving out
business goals (Kenett and Zacks, 2021). As this report is based on management of functional
areas of IOM electronics that is a well known regional company by having 200 employees that
are based on over two sites in Manchester as well as Liverpool. As this report includes concept
of business and functional areas of business, understanding as well as discussion of different
functions of business with skills that are required for carrying out working practices in their
workplace along with its conclusion.
MAIN BODY
Definition of business.
As business is defined to be a company that is engaged with an entity in a commercial,
industrial as well as professional operations (Cleary, 2021). As business could be carried for a
profit entity or it could be non profit companies which could operate in order to fulfil a charitable
mission as well as goal. In general it is basically defined to be an activity which is being
performed in order to make money.
Concept of functional areas of business practices.
As functional areas of business practices could be referred to performing out teams of
employees that carries associated expertise as well as skills that are needed to perform out
business practices effectively (Barron and Vanyushyn,2021). As in order to carry on business
practice effectively there various functional areas of business that is a basic understanding of
employees that each entrepreneur needs to carry on. As without having functional areas in
business practices company could not be capable to perform out practices effectively along with
it could fail to use it in their policies as well as to achieve their objectives on time.
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Understanding of various functional areas that are present in companies.
As there are various functional areas that are required to be present in essentially in
companies. In relation to IOM electronics different functional areas that are needed by company
to perform their business practices that are as follow: Marketing: As this functional area is basically associated in terms of fulfilling
requirements of customers for carrying out effective marketing practices at workplace
along with advertising strategy (González, Hernández and Alfaro, 2021). As marketing
functional area of business is basically related in terms of developing as well as
formulating packaging of products, pricing, creative techniques in order to fulfil targets
of company in terms of customers. In relation to IOM electronics it provides help to
company for defining along with managing requirements of company, social media
management along with monitoring as a media liaison, for producing out internal
marketing communication for employees of company. Human resource management: This functional area of company is related in relation
recruiting of employees as well as workers in company. Human resource management
ensures this area which is to be performed in order to have right skills, talent
qualifications as well as experience that is needed by business for carry their business
practices effectively. As this functional area of business operation in relation to IOM
electronics is generally reliable in terms of hiring efficient talented and skilled workers
sod that as a result their objectives could be met with an ease by providing them
incentives along with rewards. Customer service: As this functional area is associated with providing out support to
customers of company that could be able to generate customer satisfaction towards them
in order to promote products. It is generally related with providing answers to questions
of customers well in terms of resolving their query. In relation to IOM electronics this
functional area is beneficial for them in order to resolve queries of their customers
regarding their products so that customer satisfaction could be build. Finance: As functional area of finance of company is related with taking out care of
different monetary roles as well as transactions which could take place in company.
There are basically two roles as well as responsibilities of finance unit which are accounts
receivable as well as accounts payable. As it ensures charging of payroll, could make a
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check that different employees are to be paid accurately on time. In relation to IOM
electronics finance functional area could help in IOM electronics that could help
company to identifying as well as maintaining effective financial statements that are used
for budgeting and forecasting process. Research as well as development: This functional area is considered to be lifeblood of
manufacturing business (Cheryl Marek and John McGowan, 2021). As research and
development is performed with scientists as well as other leaders. In relation with IOM
electronics this area is beneficial for company to carry research in terms of identifying
market trends according to customer requirements.
 Sales: As this area is generally defined to have close of revenue of company that requires
for operating profitability. As in relation IOM electronics sales functions could vary in its
structure in order to promote their products as well as services to customers. As it could
work to exploit leads created by marketing as well as activities that are generated by sales
force.
Knowledge of various kinds of skills that are required by employees which are capable to
work effectively in functional areas.
As in order to perform business practices effectively in workplace. It should be ensured
that their employees are to be filled with effective skills. And for that it is necessary to hire
applicants with proper skills that are particularly required by company in order to perform
business practices effectively in their functional areas. As in relation to IOM electronics certain
skills that are required by employees in order to perform their business functions well are as
follows:
Marketing employees:
 Interpersonal skills: As this skills are related with welfare which associated with
building a successful relationship that is integral (Wnęk, Kudas and Stych, 2021). As
these skills are said to be behaviours along with tactics which is used by marketing
employees in order to interact with individuals. Interpersonal skills in relation to
marketing employees of IOM electronics could be beneficial for them in terms of
interacting with other individual as well as enhancing capability of employees by
listening out behaviours along with ideas of other worker as well.
Human resource management:
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 Forward planning as well as strategic thinking skills: As these skills are required by
employees of human resource management as it could help them in performing planning
in terms of making hiring of other applicants (Khamrakulovna, Khojimamatovich and
Nasridinovna, 2021). Along with that strategic thinking skills helps employees of human
resource management to thinks with creativeness by managing their human resource well.
As in relation to IOM electronics these is beneficial for employees of human resource to
effectively management things.
Customer service:
 Problem solving skills: As this skill is to present necessarily in employee of carrying out
customer service function. As by having these skills it could be beneficial for employees
to resolve queries of their customers for increasing customer service. As in relation IOM
service this skills could help employees of providing customer support to increase their
customer satisfaction.
Finance workers:
 Financial decision making skills: These skills are to be present in employees of finance
function. As decision making in finance could help in making out right decisions for
investing money along with making out effective financial position. In relation to IOM
electronics it could be beneficial for their employees of finance function to make decision
of investing money smartly.
Research and development workforce:
 Analytical skills: As these are to be present importantly in employees of research and
development function. As these skills helps employees to analyse about concepts and
various fundamental in terms of making out theories for performing out performance
well. As in relation to IOM electronics analytical skills is beneficial for employees to
perform research on market trends and customer requirements.
Sales employees:
 Communication skills: As this skills should be present necessarily in employees that are
performing out sales function. As communication skills helps employees of company to
promote their products and services in front of customers by communicating properly
(Hale, 2021). As in relation to IOM electronics communication helps employees in order
to improve their sales by keeping out a proper communication.
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CONCLUSION
It has been concluded from above report that business is defined to be practice which is
performed to carry on trading of products as well as services with a motive of earning of profits.
And for that in order to perform out business operations smoothly it is essential for companies to
implement different business functions in order to carry out operations as well as tasks properly
in business to accomplish desired goals of business. As this carries an explanation of meaning
and concept of business as well as business functions along understanding of various functional
areas of company that are required to be performed in a specified period of time. At last there is
explanation of various skills that are required by functional areas in order to perform out
business function so that company could be able achieve its desired goals easily along with
smooth functioning could be carried.
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REFERENCES
Books and Journals
Barron, A. and Vanyushyn, V., 2021. Too Many Cooks Spoil the Broth? Organising Boundary‐
Spanning Government Affairs Units during Times of Crisis. European Management
Review .18 (1). pp.101-114.
Cheryl Marek, J.B. and John McGowan, Q.C., 2021. A Governance Model and Safety
Management System Framework for Industrial Fire Safety During Naval Ship
Maintenance Availabilities. Acquisition Research Program.
Cleary, P., 2021. Peter Schuster Mareike Heinemann.
González, L.A., Hernández, A. and Alfaro, T., 2021. The Power of Proactive Information: A
Prototype of Mobile Application for Bring the Value of Library Services to the
Parliament. Qualitative & Quantitative Methods in Libraries .10( 1).
Hale, G., 2021. 10. National Security and Economic Security: Distributed vs. Hierarchical
Management of Domestic and Critical Infrastructure Security in Canada and North
America. In Navigating a Changing World (pp. 230-254). University of Toronto Press.
Kenett, R.S. and Zacks, S., 2021. Modern industrial statistics: With applications in R, MINITAB,
and JMP. John Wiley & Sons.
Khamrakulovna, O.N., Khojimamatovich, E.A. and Nasridinovna, T.O., 2021. DESCRIPTION
OF ORGANIZATIONAL AND ECONOMIC ACTIVITY OF THE SOCIETY IN THE
REPUBLIC OF UZBEKISTAN AND MARKETING ACTIVITY IN ITS FOREIGN
ECONOMIC RELATIONS. Psychology and Education Journal .58 (2). pp.5014-5023.
Wnęk, A., Kudas, D. and Stych, P., 2021. National level land-use changes in functional urban
areas in Poland, Slovakia, and Czechia. Land .10 (1). p.39.
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