BMP3004 Foundation World of Work: Analyzing Business Functions

This report provides an analysis of various 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 functional areas in achieving competitive advantage. The report describes the key responsibilities of each functional area and the types of skills needed by employees to work effectively in these roles. These skills range from marketing expertise and strategic thinking for marketing employees to strong communication and commercial acumen for customer service representatives, and financial expertise for the finance department. The report concludes that a strong understanding and effective management of these functional areas are crucial for a company's success and competitive edge.

Business Management with Foundation
BMP3004
World of Work
Functional Areas
Submitted by:
Name:
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ID:
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
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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
p
6.6 Skills needed by Sales employees p
7.0 Conclusion p
References p
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1.0 Introduction
There are various areas in business, where companies are adopting to varied working
scenarios among extensive scale horizons within new technical parameters. Report will
analyze various arenas among functions of business, departments which hold specialization
and also attain working rise for connecting towards expertise-oriented services actively.
Study will also analyze various skills, competencies and expertise needed by various
department employees within official working synergies profoundly.
2.0 What is a business?
Business can be understood as idea and practical implementation of varied vision, to serve
people with productive variety of services, for strengthening towards determined scope for
serving growth among customers. By vitally investing new capital and technology in
businesses, companies aim to evolve on extended corporate functional areas for enhanced
vision significantly. In business, there are various arenas among company working scenarios
which enhances abilities to develop stronger quality rise competitively and attain higher
derived outputs actively.
3.0 What is Functional areas of business – Definition
The functional areas within business plays keen role of importance for strengthening
practical ideologies to be evolved among competitive scenario. It is segregated among
business aspects, where keen avenues connected to bring on larger vision actively enhances
scope for higher profitability. There are different functional areas in business, which plays
keen role for connecting best resources strategically and derive expertise strategically within
determinants as per latest scale targets dynamically.
4.0 What are the key functional areas of a business?
The six functional areas of business evolves rise towards involve strategy connected
to marketing, finance, HR, technology and wider scale usage of technology where operations
have significant functions for businesses to further expand within keen horizons. Business
planners vitally use key functional areas of business, to use research technologies
innovatively and connect to new research parameters, where latest business needs are worked
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on rapidly. With changing arenas in business industries, the functional areas hold high scale
specific responsibility for strengthening vital competencies diversely and enhance strategic
output actively (Tavana, 2017).
5.0 Description of the various functional areas in business organizations
5.1 Marketing: The role of marketing functions in business is to develop innovative selling
structure, for attracting customers significantly and market out significantly. Marketing being
the most essential functional area of business in companies enables business to diversify
segments innovatively and vitally develops stronger base for connecting with audience and
target customers (Szopinski and et.al, 2017). Marketing department holds functional
responsibility, to enhance keen scenarios connected with new creative abilities for attaining
higher vision-oriented success goals and deliver keen functional growth significantly.
5.2 Human Resource Management: The role of human resource management function
in business is to train workforce, invest on best trainings and strategic recruitments for
extensive innovative development rapidly. HRM is also responsible to further develop
stringent working rise significantly within extended business growth parameters within
company functional aspects. The management also aims to vitally enhance HR working
domains strategically, develop critical expansion significantly and technically expand new
strategies innovatively. The functional role is to keep track of all employees, work on proper
training delivery and strengthen up leadership among departments for optimum growth
returns strategically.
5.3 Customer Service: Department of customer service, holds specific role for delivering
best customer services for all customers and work towards determining best facilities for
enhanced working rise rapidly. It plays essential role for stronger brand goodwill formation,
and technical stronger expertise for attending determined working primitive rise actively.
The department holds specialization, for bringing best customer-oriented services and
generate scale output for gaining higher revenue goals within business horizons (Shamsudin,
and et.al, 2019).
5.4 Finance: The finance department and function are crucially responsible for extending
functional rise on determining new finance strategies, which enables company to determine
extensive high rise on working scenarios. It is responsible to deliver best finance output,
formation of strategic finance strategies and gain strategic working output within longer run.
Finance function holds high essential responsibility, to bring on new returns aligned and also
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derive higher competencies strategically for longer extended goals in business grounds
informatively/.
5.5 Research and Development: The research and development function are responsible to
evolve on new business grounds, where new innovation in technology is used to further
advance up functional goals. R& D investments are properly evolving to bring on competitive
business reach, for strengthening working rise rapidly on untapped working grounds. R&D
department, also delivers aim to connect towards latest technical expertise and derive
optimum growth on profit levels for attaining quality returns from new investments
(Yulianto, Sudirman and Setiawan, 2021).
5.6 Sales: The sales department functions are responsible to enhance sales management
procedures for company to further evolve on new working procedures, and generate keen
working priorities. Sales procedures need to advance up competitively, for strengthening
imperative reach among customers and also delivers keen working scenarios. The sales
functions are integrally potential to further deliver optimum rise and effective technical
services rise.
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 marketing department employees need to
have skills in delivering latest marketing services, and catering to latest horizons within
competitive industry functionally. The marketing employees have to be also potent on
strategic business goals and determine keen targets for consumer goodwill rise, which
enhances strengthened market stability actively.
6.2 Skills needed by Human Resource Management employees: HR employees working
within management, need to have vision and technical expertise for serving working
expertise informatively which further enhances new scale abilities. The HR employees need
to have skills to monitor employees, and enhance their training and learning potentialities
significantly for further competently building dynamic keen working goals. The officials
must be creative, dynamic for accepting diversity within workforce and also potentially
evolving towards extensive working rise for strengthening new range of HR potentialities
(Păunescu, Popescu and Blid, 2018).
6.3 Skills needed by Customer Service employees: Customer service employees need to
have skills, such as smart communication skills, high working commercial acumen to develop
strong rapport with customers. It also can be understood that customer service employees,
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need to be also potent to develop strong working quality standards with customers, for faster
completion of targets within delivery goals. Customer service employees, need to be also
potent to further advance up keen business goals rapidly and deliver the best technical
working vision for effective outputs.
6.4 Skills needed by Finance employees: The finance department employees, working
within management should be skilled in operations related to finance, and work with smart
acumen to be professionally potent. Also working expertise should be stronger, for attending
new larger vision which enhances working abilities. Finance employees should be also smart
to manage competencies, tasks related with setting corporate finance strategies and
generating functional output strategically. The finance strategies need to competently active
among employees for enhancing working expertise significantly (Heikkilä, Kaipia and Ojala,
2018).
6.5 Skills needed by Research and Development employees: Employees within R&D
department must be competently active in working with high commercial skills with smart
technology operations significantly. The department officials must be active in performance
by using latest research techniques and advancing corporate working scenarios variedly. It
has been also found that department employees should be also potent to bring before keen
working expertise and also deriving extensive new scale vision for untapped abilities.
6.6 Skills needed by Sales employees: Employees within sales department should be skilled
in performing sales operations, and further shape up active business working goals
significantly. The sales employees should be also potent to bring on keen new innovation,
higher satisfaction in customer services delivery and strengthen up channelized determinants
for attending diverse working expertise significantly. Skills needed within sales employees,
are also correlated to bring new vision-oriented success horizons for competitive working rise
and also to deliver untapped abilities within scales up aspects actively (Cagle, Yılmaz and
Doğru, 2020).
Conclusion
The report has concluded varied scenarios within functions of management, where
marketing, customer sales services, services related to finance are evolving to bring on new
range of competitive abilities. Study also concluded various skills, and competencies such as
strong leadership skills, abilities to work within complicated projects which further evolves
rise on extended working abilities. It can be also analyzed that study concluded functions of
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management specific horizons and strengthened profound parameters, which shape recent
innovative targets diversely.
References
Cagle, M. N., Yılmaz, K. and Doğru, H., 2020. Digitalization of business functions under
Industry 4.0. In Digital Business Strategies in Blockchain Ecosystems (pp.
105-132). Springer, Cham.
Heikkilä, J., Kaipia, R. and Ojala, M., 2018. Purchasing category management: providing
integration between purchasing and other business functions. International
Journal of Procurement Management. 11(5). pp.533-550.
Păunescu, C., Popescu, M. C. and Blid, L., 2018. Business impact analysis for business
continuity: Evidence from Romanian enterprises on critical
functions. Management & Marketing. 13(3). pp.1035-1050.
Shamsudin, M. F and et.al, 2019. Preliminary analysis on relationship of CRM functions
implementation towards firm’s business performance. Humanities & Social
Sciences Reviews, 7(1), pp.113-120.
Szopinski, D., and et.al, 2017. How software can support innovating business models: A
taxonomy of functions of business model development tools.
Tavana, M. ed., 2017. Enterprise Information Systems and the Digitalization of Business
Functions. IGI Global.
Yulianto, E., Sudirman, I. and Setiawan, A., 2021. Developing a Conceptual Model of
Implementation of Business Functions Integration in the Internal Business
Process Performance. Asia Proceedings of Social Sciences. 8(2). pp.73-78.
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