BMP3004: Functional Areas in Business Management & Skills Needed

This report provides an overview of the key functional areas within a business, including marketing, human resource management, customer service, finance, research and development, and sales. It defines what a business is and the importance of dividing work into functional areas for effective management and goal attainment. The report details the responsibilities of each functional area and the specific skills required for employees to perform effectively within them, such as communication and convincing skills for marketing, decision-making and negotiation skills for HR, and analytical and numeric skills for finance. The conclusion emphasizes the importance of these departments working together and the need for employees to possess the necessary knowledge and skills to contribute to the company's success. Desklib provides access to this and other solved assignments for students.

Business Management with Foundation
BMP3004
World of Work
Functional Areas
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Contents
1.0 Introduction p
2.0 What is a business? p
3.0 What is Functional areas of business – Definition
p
4.0 What are the key functional areas of a business?
P
5.0 Description of the various functional areas in business
organizations p-p
5.1 Marketing p
5.2 Human Resource Management p
5.3 Customer Service p
5.4 Finance p
5.5 Research and Development p
5.6 Sales p
6.0 Description of the types of skills needed by employees
to be able to work effectively in these functional areas
p-p
6.1 Skills needed by Marketing employees p
6.2 Skills needed by Human Resource Management employees
p
6.3 Skills needed by Customer Service employees
p
6.4 Skills needed by Finance employees p
6.5 Skills needed by Research and Development employees
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p
6.6 Skills needed by Sales employees p
7.0 Conclusion p
References p
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1.0 Introduction
The business environment is dynamic and there is importance of conducting
research on regular basis in order to achieve goals and objectives (Tseane-
Gumbi,2018). The aim of this report is to understand the main functional areas of
business. Along with that the skills required to carry on the operations in different
departments is also part of this report. There is significant role of employees in the
operations of a company so they must have desired skills that help them carry on the
work properly in the business organization.
2.0 What is a business?
Business can be defined as an organization that is indulged in commercial activity
and the motive is to earn profit. The exchanges of products and services in return of
money is done by the enterprise.
3.0 What is Functional areas of business - Definition
To carry on the work in proper manner, the business organization need to
divide the overall work. The task is to analyses the skill set of employees and make
them part of a group so that they can carry on the task effectively (Borucińska-
Bieńkowska, 2020). It helps to manage the overall work in the company and attain
goals and objectives.
4.0 What are the key functional areas of a business?
The work mainly divided in key functional areas. The main functional areas
that operate and coordinate in a company are as follows:
 Human resource
 Marketing
 Finance
 Sales
It is necessary for the company to coordinate the functional areas so that the
company is able to attain success. The company must work by creating coordination
among the areas of operations. It helps them to carry on the operations in proper
manner a company needs to work by managing their operations properly.
5.0 Description of the various functional areas in business
organizations
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5.1 Marketing:
Marketing can be defined as important function of management. The aim of
marketing is to promote the products and services of the organization. The company
must know about the the trends in the market and use them for success of the
enterprise (Rendon, and Snider, 2019). It starts with conducting research and then
implementation of changes so that the customers are attracted towards the
company. It is necessary to add new and updated features in the products so that
they are able to reach more customers. The task is to select the desired target
audience that will buy the products of the company. There is key role of marketing
department in an organization.
5.2 Human Resource Management:
The human resource management of a company plays a critical role and hires
the best suitable employees for the company. It is seen that they, conduct the
interview and select the best candidates for the job. The training and development in
the company is also taken care by the human resource department. All the problems
that are being faced by the employees of the organization are solved by the human
resource of the company (Varava, Varava, and Marchenko, 2021). There is key role
of managing the employees and attaining the goals and objectives in effective
manner.
5.3 Customer Service:
The role of customer service in a company is to support your customers. They
play a vital role in providing pre and post sales. The task is to enhance the
experience of the customers and let them becomes loyal for the company. The
customers are important part of an organization and the customer service
department works for them so that they are able to retain them. All the queries of the
customers are being solved by the customer service department.
5.4 Finance:
The next functional area is finance department. All the monetary transactions
that take place in the business organization are carried by the finance department.
The budget is also formulated by the department and they assure that financial
resource of the company is used wisely. It is important to follow the budget and carry
on the work in effective manner.
5.5 Research and Development:
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The research and development department identifies the trend in market.
They work to identify the situation in the market and then make changes in the
products that are being required (Sheppard, Yeon, and London, 2018). The
department suggests various techniques and processes that helps the company to
enhance effectiveness. The use of latest technology and the best processes is being
suggested by the research and development of the company. It is necessary to use
new and updated measures so that the company is able to attain advantage over the
competitors.
5.6 Sales:
The main aim of a business organization is to enhance the sales. The
company makes all the effort so that they are able to get high revenue and good
profitability. The sales departments uses various techniques that will result in
enhancing the overall sales of the company. It is necessary to use the information
from marketing department and it will help them to innovate and make the desired
changes.
6.0 Description of the types of skills needed by employees
to be able to work effectively in these functional areas
6.1 Skills needed by Marketing employees:
 Communication skills: The skills will help them to build effective relationship
with the customers. and let them understand each and everything properly.
There is need to convey the message in proper manner to the employees.
 Convincing skills: The skills will help the executives the persuade the buyers
and let them purchase the goods and service from the company.
6.2 Skills needed by Human Resource Management employees:
 Decisions making skills: The HR of the business organization works to take
decision related to hiring of the employees (Hansen, 2021). There are certain
candidates that come to give interview in the company and the HR has to
select best among them.
 Negotiation skills: There is key role of negotiation skills as they have to
decide upon the salary of the employees. They must have negotiation skills so
that both candidate and company requirements are being fulfilled.
6.3 Skills needed by Customer Service employees:
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 Listening skills: There is need of good and effective listening skills so that all
the problems of the customers can be heard. This will help the customers to
be satisfied as they have conveyed their issue in proper manner.
 Understanding skills: The customer service executives must have good
understanding skills so that they are able to understand the problems and
issues of the employees (Song, and et.al., 2022). It is necessary to solve their
issues effectively by understanding their problem.
6.4 Skills needed by Finance employees:
 Analytical skills: There is need of good analytical skills so that the work can
be managed properly. It will help them to know about the situation and
managing the same properly.
 Numeric skills: It is necessary for a finance executive to be good at numbers.
By having good and effective numeric skills they will be able to manage the
work properly and make effective use of money. It will help them to manage
the finances of the company in proper manner.
6.5 Skills needed by Research and Development employees:
 Research skills: There is need of proper research skills so that the person is
able to know about the situation of environment. There is key role of research
skills to know about the trend in the market.
 Writing skills: There is need of proper writing skills to the research and
development. It will help them to present the data in proper manner and help
them to make report that will be presented.
6.6 Skills needed by Sales employees:
 Communication skills: There is need of proper communication skills in the
sales person. It helps them to build relationship with the client and enhance
the sales of the business organization (Plastino and Purdy, 2018). There is
need of all such skills so that sales of the company can be enhanced.
 Persuading skills: There is need of persuading skills. It helps in persuading
the buyer to purchase the products from the company. This will help to
enhance the sales of the business organization and attain success.
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Conclusion
From the above report, it is concluded that there are various functional
departments that work together in a business organization. It is necessary for the
employees to have knowledge and capability that will help them to carry on the work
properly and attain success. The evaluation of the skills that are required to work
properly in the functional areas is also part of this report.
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References
Borucińska-Bieńkowska, H., 2020. The influence of ecophysiographic determinants on the
functional-spatial development of rural areas-a study of the village of Lubasz. Civil
and Environmental Engineering Reports, 30(2).
Hansen, A., 2021. The purposes of performance management systems and processes: a
cross-functional typology. International Journal of Operations & Production
Management.
Plastino, E. and Purdy, M., 2018. Game changing value from Artificial Intelligence: eight
strategies. Strategy & Leadership.
Rendon, R. G. and Snider, K. F., 2019. Management of defense acquisition projects.
American Institute of Aeronautics and Astronautics, Inc..
Sheppard, B., Yeon, H. and London, S., 2018. Tapping into the business value of design. The
McKinsey Quarterly.
Song, Z and et.al., 2022. Building-Level Urban Functional Area Identification Based on Multi-
Attribute Aggregated Data from Cell Phones—A Method Combining
Multidimensional Time Series with a SOM Neural Network. ISPRS International
Journal of Geo-Information, 11(2), p.72.
Tseane-Gumbi, L. A., 2018. Business Social Responsibility and Functional Areas of a Tourism
Business. African Journal of Hospitality, Tourism and Leisure, 7(3), pp.1-9.
Varava, L., Varava, A. and Marchenko, V., 2021. Distinctive features of managing functional
strategies under the conditions of an ore mining and processing company.
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