BSc Business Management: Functional Areas in Business Organizations

This report outlines the key functional areas within a business organization, including marketing, human resource management, finance, and sales, and details the essential skills required for employees to perform effectively in each area. It emphasizes the importance of each department working as a cohesive unit to achieve overall business sustainability. The report advises John, a new business owner, on the practical requirements and responsibilities involved in running a company, stressing the need for a balanced team across all departments to ensure smooth operations and prevent disruptions to any business function. It also references relevant academic sources to support the analysis and recommendations.

BSc (Hons) Business Management with Foundation
BMP3004
World of Work
Functional Areas
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Contents
1.0 Introduction 3
2.0 What is a business? 3
3.0 What is Functional areas of business – Definition
3
4.0 What are the key functional areas of a business?
3
5.0 Description of the various functional areas in business
organizations
5.1 Marketing 4
5.2 Human Resource Management 4
5.3 Finance 4
5.4 Sales 4
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 5
6.2 Skills needed by Human Resource Management employees 5
6.3 Skills needed by Finance employees 5
6.4 Skills needed by Sales employees 6
7.0 Conclusion 6
References 7
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1.0 Introduction
The current work centers upon the different useful regions in a business organization
stressing upon the primary cycles that John is needed for the fruitful working of his business.
The report additionally centers upon the different abilities which are required alongside their
exchange capacity across different spaces of business capacities accentuating upon their
importance and how these grants the labor force to play out their errand adequately in each
space of business activity (Chintalapati and Pandey, 2021). Further, different models will be
applied to help the investigation which are being made to help John in distinguishing the
prerequisites just as obligations which are engaged with every day business activities and
how they in the end prompts John making the progress in his business.
2.0 What is a business?
The term business alludes to a financial framework or any association wherein labor
and products are being purchased and sold for one another in against of any money related
addition.
3.0 What is Functional areas of business
The idea of functional aspects of business alludes to explicit skillet set or a task that is
being used to have fruitful activities of a business and leads the association to foster a
particular useful design which can be applied in various models of business (Diyorbek,
2020).
4.0 What are the key functional areas of a business?
There are commonly four areas of organizational functions in which any business works.
These are mentioned under:
 Sales
 Human Resource
 Finance
 Marketing
The essential functions of above mentioned departments in the end directs the total
business for its drawn out maintainability. Each departmental capacity plays out their
assignment in better way as a strong unit as opposed to working separate particular from
every office. In generally speaking, the association functioning as an incorporated unit
demonstrates helpful for the accomplishment of big business with a presence of concordance
among each.
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5.0 Description of the various functional areas in business
organizations
5.1 Marketing:
According to Fayziev, 2020 the concept of marketing can be characterized as a
science and a specialty of figuring, conveying and investigating a worth to satisfy the
objective market prerequisites with an am of producing benefits out of it. However, the idea
of showcasing could be for the most part expressed as a gathering the necessity of the
organization's shoppers through advancement, statistical surveying, putting an item and
healthy evaluating for such item. Marketing is ordered as a fundamental and a major regions
which is exceptionally significant in present authoritative rivalry at local level as well as at
global level because of the presence of high market contest.
5.2 Human Resource Management:
According to Lu and et. al., 2021 the idea of human asset is being characterized as the
labor force playing out their work underneath single umbrella in a business. This includes
certain exercises which are being applied in accordance with heading organization's staff
determined to guarantee the entire group to work with significant degree of efficiency
however much they can. Labor force is a significant part in any professional other fixed
resources inside an association as they are sorted as a profoundly essential resource in the
long run helping the monetary state of the particular association.
5.3 Finance:
The idea of money group is refereed as an indistinguishable piece of any organization
where the administration or the securing just as financing of organization's resource whether
vital or fixed takes position fundamentally centering its own with long haul support ability of
the association alongside their day by day functional capacities. Any choice an association
may consider as of now or in future has some repercussion upon the monetary standings of
the business and all the association considers requires the branch of money to think about
choices. Consequently is extremely fundamental that individuals inside the division of money
are master just as educated (PINTEA, 2020).
5.4 Sales:
This includes some normal attributes like of marketing however this is more refined
and incorporates the genuine sales of an item or administrations of the organization. That is
the reason an individual inside sales work must contains the spirit of their association. This
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capacities with a co-appointment of money group to met their set objective. They are treated
as the delegates of an association inside a degree of tasks and makes systems to guarantee the
accomplishment of the association. These are the bleeding edge bosses and are imperative to
the association for its prosperity and necessities a critical volume of abilities so to guarantee
the authoritative advancement (Reichstein-Scholz and et. al., 2021).
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:
The different abilities which an marketing representative is needed to have involves
capacities to alter with moving business sector situation having outstanding intelligent
abilities to associate with drive commitment or with clients. There is additionally a need to
have some adaptable abilities which could make an effect upon advertiser. Working with
severe timetables or courses of events, the capacity to convince others at the same time
having a sure faculty (Sengupta and et. al.., 2020).
6.2 Skills needed by Human Resource Management employees:
The various abilities which are required inside a division of human resource the
executives are referenced underneath:
 Capable to work inside a group including a gathering, organization proprietors,
customers just as clients.
 Having the option to adjust the give duty regarding the activities they does.
 Being unprejudiced and not fostering their own decision without any proof.
 Driving by building up a model before others inside a business (Tadj and Djemili,
2021).
6.3 Skills needed by Finance employees:
The various abilities which are required inside finance division fluctuates and in
certain conditions appears to be normal for example, the abilities which are required inside an
associations involves the capacities to assess the bookkeeping reports, innovation which are
classified as fundamental as presently a days pretty much every organization uses the PC in
their branch of finance, for tackling different complex issues which is additionally vital inside
finance office as they also encounters complex circumstances while deciding. The exchange
capable abilities which are required in finance office contains the capacities, for example,
adaptability which could be utilized to acknowledge new circumstance in everyday premise,
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searching for the most recent thoughts which could help the capacity in fruitful
administration of time just as target (Wang and et. al.., 2021).
6.4 Skills needed by Sales employees:
Paying attention to the things effectively is extremely fundamental ability that a sales
division needs as this is essential to distinguish requirements of the association just as of the
clients they as of now has or they intends to achieve. The soul of business is likewise
fundamental particularly the association makes any further stride and improves the ability to
foster an affinity with buyers as a significant part to assemble a solid relationship to keep up
with client proportion a lot more grounded than contender. Upkeep of inspirational
perspective is likewise a basic ability which each representative inside a sales division needs
to keep up with (Wang and Liu, 2021).
Conclusion
From the above report it is presumed that John is being encouraged to pay center upon
previously mentioned elements of an association to guarantee the endeavor is set up in its
best manner for encountering achievement. The abilities which are required in each office is
the significant part that could be moved to some other useful division yet in addition requires
certain individual abilities which are relied upon office to office premise. John is encouraged
to guarantee that he is having a legitimate group with a presence of equilibrium among each
division and guarantee that the business doesn't includes any obstacle which eventually
doesn't makes any effect upon some other branch of a business.
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References
Chintalapati, S. and Pandey, S.K., 2021. Artificial intelligence in marketing: A systematic
literature review. International Journal of Market Research, p.14707853211018428.
Diyorbek, B., 2020. ANALYZING MARKETING ENVIRONMENT AND IT'S
STRATEGY AND FUNCTIONS. In НАУКА 2020. ТЕОРИЯ И ПРАКТИКА (pp.
3-5).
Fayziev, T.R., 2020. FUNCTIONS AND TYPES OF MANAGEMENT IN SMALL
BUSINESS. Мировая наука. (3). pp.48-51.
Lu and et. al., 2021, May. A Multi-Task Prediction Framework for Sales Prediction. In 2021
International Conference on Computer Communication and Artificial Intelligence
(CCAI) (pp. 194-198). IEEE.
PINTEA, M., 2020. THE CHALLENGES OF FINANCE DIGITALIZATION. Managerial
Challenges of the Contemporary Society. Proceedings. 13(1). pp.58-63.
Reichstein-Scholz and et. al., 2021. Sales to centre stage! Determinants of the division in
strategic sales decisions within the MNE. International Business Review, p.101859.
Sengupta and et. al.., 2020. Reinventing HR functions with SMAC technologies-an
exploratory study. Materials Today: Proceedings.
Tadj, L. and Djemili, S., 2021. Joint optimization of the marketing and operations functions.
OPSEARCH, pp.1-20.
Wang and et. al.., 2021. Differential effects of interpersonal relationships across functions on
product and service innovation. Marketing Intelligence & Planning.
Wang, G. and Liu, S., 2021. Functions and Translation of Nominalization in Business
Contracts. Economic Management Journal. 10(1).
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