IOM Electronics: Skills Needed by Employees in Business Functions

This report provides an overview of various business functions, highlighting their importance in achieving organizational goals. It describes key functional areas such as human resource management, accounting and finance, marketing and advertising, production management, information technology, operations management, customer relationship management, the legal department, and strategic management. The report emphasizes the skills employees need to work effectively in these areas, including leadership, communication, learning, problem-solving, and time management. Using IOM Electronics as an example, the report concludes that developing these skills is crucial for organizational growth and gaining a competitive edge. Desklib offers solved assignments and study tools for students.

Business functions

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
A brief description of functional areas in a business organisation..............................................3
TASK 2............................................................................................................................................5
Different types of skills needed by employees in order to work effectively in different
functional areas...........................................................................................................................5
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business functions are different tasks and activities performed by a business entity in
order to achieve organisational goals in a set period of time. In an organisation there are different
business functions performed by a business in order to deal with different situations in a precise
manner (Burton, 2017). Business functions are also helpful in achievement of different aims and
targets that are formulated by strategic management in a given period of time. In this report there
is a brief description provided of different functional areas of a business organisation. This report
also contains the different type of skills that are needed by employees of an organisation to
accomplish different tasks and activities. In this report example of IOM electronics is taken into
consideration for better understanding different functions that are performed in a business
organisation. IOM electronics is a famous regional organisation which has strength of 200
employees and performs operations in two sites that are Manchester and Liverpool.
TASK 1
A brief description of functional areas in a business organisation
In the functioning of a business at the marketplace there are various functional areas
which helps a business to grow at the marketplace. The functional areas of a business also helps
in management of different operations in the organisation and also helps in development of
individuals (Houssou, 2019). It is the major responsibility of top level management of a business
to support different functional areas of a business in order to gain increase in revenue and
efficiency. The different functional areas of a business are mentioned below:
 Human resource management- The human resource management is considered as the
main body of a company which is helpful in management of employees. Human resource
management is also known as people's management which is helpful in increasing
performance of different employees. In an organisation there are various functions
performed by human resource management like recruitment, selection, payroll, employee
induction, orientation and planning in order to develop a business. It is the major
responsibility of human resource management in an organisation to maintain culture in
the organisation. It is also one of the major functions of human resource management to
solve conflicts which arise at the workplace in order to gain competency edge at the
marketplace.

 Accounting and finance- This department or functional area of a business entity is
concerned with maintaining financial transactions of a business. The accounting and
finance department is one of the major department which records monetary transactions
that are performed in a financial year. It is compulsory for a business organisation to
maintain and record all financial transactions in a precise manner to increase efficiency.
The accounting and finance department are also concerned with preparation of financial
accounts for a business which is helpful in business development.
 Marketing and advertising- In a business entity marketing department is concerned
with advertisement and publicity of a product to develop major operations. Marketing
department is also considered as major department which is helpful in increasing sales of
the company (Kasaev, 2019). In a company it is essential for a business to attract large
number of customers from the marketplace. The main responsibility of marketing
department is to formulate sales targets and achieve them in a set period of time.
 Production management- This functional area of a business is majorly concerned with
production of company product. The major aim and target of this department is to
maintain quality of a product in order to increase customer satisfaction. Production
management is known as backbone of a business organisation which is helpful in product
development.
 Information and technology- In the era of stiff competition between different
companies it is important for a company to take support of information and technology.
This department is majorly concerned with business development by using advanced
computer systems and software. A business organisation must hire professional IT
management for the development of business and to achieve business goals.
 Operations management- The operations management is major business department
which is concerned with management of different operations. Main aim of operations
department of a business is to maintain and develop quality in products and services. It is
essential for a business to maintain quality in products and services for achievement of
different organisational goals.
 Customer relationship management- This functional area of a business is majorly
concerned with development of a business by maintaining effective relationship with
customers. In a business entity it is major responsibility of customer relationship

management to formulate and develop precise relationship with customers. The
management should hire professional and skilled staff in customer relationship
management in order to increase satisfaction of customers.
 Legal department- Legal department is a crucial part of every organisation which
follows rules and regulations of government to develop a business. It is important for an
organisation to follow rules and regulations of government in order to conduct ethical
business at the marketplace (Nalawade, 2019). Employment legislation which is
formulated by government of a country is followed by legal department of a business to
achieve organisational aims and targets.
 Strategic management- In functioning of a business organisation at the marketplace it is
important to take support of strategic management. Strategic management is helpful in
business development as it formulates effective planning which is helpful in fulfilment of
different tasks and objectives.
TASK 2
Different types of skills needed by employees in order to work effectively in different functional
areas
In the functioning of a business organisation at the marketplace it is important for a
business to develop skills in different employees. The skill development is essential in an
organisation to develop ethics in employees and increase their productivity (Seigler, 2017).
Various skills that are useful in development of employees are mentioned below:
 Leadership skills- In today's competitive world it is essential for an employee to have
leadership skills in order to manage subordinate employees. The leadership skills are
essential in managing large number of employees and are also helpful in accomplishment
of a particular task in a specific time frame. The leadership skills are also helpful in
formulation of effective result that are useful for organisation and are also helpful in team
development.
 Communication skills- It is essential for an employee to develop effective
communication skills in order to perform effective conversation with other employees
(Shi, 2019). The organisation must help and train employees to increase their
communication skills which is also helpful in increasing coordination between different

employees. It is the major responsibility of top level management of an organisation to
develop communication skills by using professional tools and techniques. Management
must ensure that employees are developing communication skills on regular basis for
achievement of different development related goals.
 Learning skills- Learning skills are related to knowledge development in an individual
which are helpful in accomplishment of a particular task. The organisation should follow
appropriate procedure which is helpful in development of learning skills in a precise
manner. There are various companies at the marketplace which trains their employees for
developing learning skills in order to gain competency edge.
 Problem solving skills- An employee who is working in the organisation must develop
different problem solving skills in order to deal with different situations of the company.
It is compulsory for an organisation to regularly train different employees for
development of problem solving skills. The management of a company must ensure all
employees of the company are perfect in problem solving skills for the overall
development of organisation ( JulyWen-xin, 2020). It is the utmost responsibility of top
level management in an organisation to develop different problem solving skills in order
to gain competitive advantage at the marketplace.
 Time management skills- The time management skills are requirement of an
organisation in order to effectively manage job time. In the era of stiff competition
between different companies it is compulsory for an organisation to manage time related
for different operations. The time management skills are essential for an employee in
order to accomplish a particular task in a given period of time. Time management skills
are helpful in organisational growth which is helpful in achievement of competency edge
at the marketplace. It is the key function of a company to focus on development of time
management skills for business development.

CONCLUSION
From the above stated report it can be concluded that business functions are major
operations that are helpful in development of a business. It is important for a business to majorly
focus on its different operations in order to achieve different organisational goals in a set period
of time. This report concludes that it is major function of top level management to develop
different skills in employees for achievement of different organisational goals. This report also
concludes that is compulsory for a business organisation to follow different tools and techniques
of business development to achieve different business objectives in a short period of time.

REFERENCES
Books and Journals
Burton, A.A. and Hassan, S.A., 2017. FUNCTIONAL AREAS AND ORGANIZATIONAL
PERFORMANCE OF ADCO. European Journal of Economics and Management
Sciences, (4), pp.47-57.
Houssou, N.L., Guillaume, J.L. and Prigent, A., 2019, April. A graph based approach for
functional urban areas delineation. In Proceedings of the 34th ACM/SIGAPP
Symposium on Applied Computing (pp. 652-658).
Kasaev, B.S., Petrovskaya, M.V. and Kasaev, M.B., 2019. Innovative approaches to business
managing functional areas in a territory. Industrial Engineering & Management
Systems, 18(3), pp.440-453.
Nalawade, R.K., More, D.K. and Bhola, S.S., 2019. Employability Skills Required for
Functional Areas of Management. IUP Journal of Soft Skills, 13(1).
Seigler, D.J., 2017. Social media responsiveness in the public sector: A study of social media
adoption in three functional areas of local government. International Journal of
Organization Theory & Behavior.
Shi, R., 2019, July. The Research of Urban Rail Transit Line Planning in Urban Main Functional
Areas. In 2019 5th International Conference on Transportation Information and Safety
(ICTIS) (pp. 1037-1041). IEEE.
Wen-xin, S. and Yun, G., 2020, April. Identification and Analysis of Urban Functional Areas
Based on VGI Data. In 2020 IEEE 5th International Conference on Cloud Computing
and Big Data Analytics (ICCCBDA) (pp. 408-414). IEEE.