Report: Business, Key Functional Areas, and Essential Workforce Skills

This report provides an overview of the world of work, focusing on business operations and the skills necessary for workforce effectiveness. It begins by defining business and exploring its functional areas, including human resource management, research and development, financial management, marketing, customer service, and sales. The report emphasizes the importance of each department and the specific skills required for employees to succeed within each area. Skills discussed include communication, problem-solving, financial analysis, and the ability to adapt to changing business needs. The report concludes by highlighting the interconnectedness of these functional areas and the impact of skilled employees on overall business performance. The content is a valuable resource for students studying business, providing insights into the practical application of business principles and the skills needed for professional success.

World of Work

Contents
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................3
What is business?.........................................................................................................................3
What are the functional areas of business....................................................................................3
What are the key functional areas of business.............................................................................3
Types of skills which are required by the work force so that they can able to work effectively
in the following functional areas..................................................................................................5
Conclusion.......................................................................................................................................6
References........................................................................................................................................7

Introduction
The world of work is created with the help of occupation, job role, the relation between
the employer and employees, the techniques which can be adopted by the organisation in order to
promote their work force while motivating them. There are several other activities which must be
looked by the companies so that they can encourage their workforce in order to get efficiency of
work (Dai, Byun and Ding, 2019). The report is being discussed about the business and several
functional areas of business organisation. There are several types of skills which are required by
the workforce in order to work effectively with respect to their functional areas are also
discussed in the report.
Main Body
What is business?
A business is defined as an enterprise which is engaged in commercial, industrial or
professional activity. Then two years can be engaged in order to on profitability from their
activities and also there are some of the organisation which are developed for the charitable
mission so that their activities can apply the basic standards of people (Distel, 2019).
What are the functional areas of business
The functional area of business organisation can also be defined as the operational
management as it helps the organisation in order to get manage themselves with respect to the
social and universal process as it helps the company to expand their business into the competitive
market (Eggert and et. al., 2018). It is type of the interdisciplinary approach which helps the
organisation to expand themselves.
What are the key functional areas of business
Key functional areas
 Human Resource Management: the manpower management department is concerned
with obtaining and maintaining the good workforce in order to satisfy them within the
working environment the main objective of this department is to manage the workforce.
The department used to recruit the candidates and provide them induction, orientation,

training, promotions and motivations so that they can enhance their performance (Galván
and et. al., 2019). The main objective of this type of department is to create and promote
the team spirit within the the workforce and the managers.
 Research and development: it is the department which used to plan, organise, direct, co-
ordinate and control all the functions of the organisation in such a manner so that they
can develop a desired goods and services within a specified period of time. The
department also required to produce their goods and services at the right cost.
 Financial Management: it is the study of relationship between the raising of funds and
development of funds. It is the most important management of the organisation as it deals
with the capital budgeting cost of capital, portfolio management and many others. The
department is responsible to determine the short and long term sources of funds which
can be used by the company in order to produce their products and services (Ghobakhloo,
2020).
 Marketing: it is the department which is responsible in order to promote their goods and
services in a competitive market so that the company can increase their sales into an
effective manner. The department used to analyse the various promotional techniques
which can be adopted by them in order to promote and encourage the customers to
increase their sales.
 Customer service depatment: it is the department which is responsible to resolve the
issues faced by their customers wine consuming the product and services from the
competitive market. The department is also responsible to take the feedback from their
customers in order to innovate their products in such a manner so that the company can
satisfy the requirements of their targeted audience.
 Sales department: it is the department which place a direct link between the company's
product and services with their targeted customers. The department is responsible to
analyse and identify the customers unique needs so that they can make sure that such
needs are fulfilled by company into an effective manner.

Types of skills which are required by the work force so that they can able to work
effectively in the following functional areas
 Skills required by the employees who belongs to Marketing department: the marketing
department is engaged in order to promote the goods and services into the competitive
market which helps the form to to increase their sale by adopting an effective
promotional techniques within the organisation. The employees who belongs to
Marketing department must have done skill of communicating about their products and
services into the competitive market (Guevara-Vega and et. al., 2019). They must have a
strong writing and verbal communication skills so that they can able to explain about
their products and services into the competitive market which helps them to attract the
targeted audience in order to avail such offered services and product.
 Skills required by the human resource management employees: the Human Resource
Department employees must have a good knowledge in order to resolve the problems
with are faced by their other employees within the organisation. They are required to
have a good communication with the fellow employees so that it will be easy for them to
interact with one another in order to resolve the problems faced by them within the
working environment. The employees who belongs to Human Resource Department must
have a good and addresses of the employees so that they can easily resolved the issues by
determining and understanding the company's ultimate objective and find out the
effective manners which can be helpful in order to meet those goals.
 Skills required by the finance employees: the employees who belongs to financial team
must have skill of resolving the problems as weather it is analysing a budget for
calculating the risk of investment which the company can take. The financial managers
must except taking actions and finding solutions within the organisation as it is important
for them to understand the financial goals of the organisation which helps them to
determine the manners which can be adopted by them in order to meet those goals into an
effective manner (Herath and et. al., 2019). The managers are required to take proper
decision making process so that they can demonstrate their logical thinking into reality
which helps them to determine the appropriate options in order to understand their
analysis so that they can determine their budget and forecast the profit and losses which
can be held by the organisation in future.

 Skills needed by the sales employees: it is important for the employees who belongs to
the sales department must have a skill related to communication so that it will be easy for
them to communicate with one another (Kim and Jeong, 2018). They must have a strong
written and verbal communication skills so that they can effectively manage their work.
The sales manager can work with many other departments and the ability to alter their
communication is time to easy convey information so that they can get success easily.
 Skills required in the research and development employees: the employees who belongs
to the research and development Department they must have a good knowledge with
respect to analysing the candidate which must be higher for the the functions of the
organization (Järlström, Saru and Vanhala, 2018). They must have a skill in order to
resolve the problems faced by their employees within the organisation this helps them to
motivate the other employees which can be resulted in enhancement of their functions
into an effective manner. This helps the organisation to develop the ability to work of
their employees.
 Skills needed by customer service employees: all those employees who belongs to the
customer Service Department must have a good communication is cal so that they can
easily understand the issues faced by their targeted audience and give them a best
solution so that they can satisfy with the offered products and services. The employees
must have a problem solving skills which helps them to resolve the issues faced by their
customers (Koon, 2018). This is beneficial for the organisation as it helps them to
develop positive brand image into the competitive market and resulted in enhancement of
their market share.
Conclusion
It can be concluded from the above report that it is important for business organisation to
recruit such candidates with have a appropriate skills in order to fulfill their job roles within the
organisation. As every company have several functional area who are working together in order
to attain their common objective into an effective manner. There are several types of skills which
are required by the workforce so that they can work effectively within their functional area this
helps the company to achieve their common objective into an effective manner.

References
Books and Journals
Dai, Y., Byun, G. and Ding, F., 2019. The direct and indirect impact of gender diversity in new
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pp.505-528.
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bathtub model. Journal of Management, 45(5), pp.2014-2044.
Eggert and et. al., 2018. Conceptualizing and communicating value in business markets: From
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Galván and et. al., 2019. Potential of Antioxidants for Functional Beverages to Improve Health
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Ghobakhloo, M., 2020. Determinants of information and digital technology implementation for
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Guevara-Vega and et. al., 2019, February. Functional requirement management automation and
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Herath and et. al., 2019. Functional Disorganization. In Business Plasticity through
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Järlström, M., Saru, E. and Vanhala, S., 2018. Sustainable human resource management with
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Kim, H.J. and Jeong, M., 2018. Research on hospitality and tourism education: Now and
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Koon, H.P., 2018. The Chinese business elite of Malaysia. In Southeast Asian Capitalists (pp.
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