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This paper is working on different functional areas of business for ensuring the business growth of a person John. John is an inexperienced fellow that wants to run a company and with the limited resources that he has gained. Now, it has become essential for John to understand how business areas are operated. John has hired an expert to analyze specific business components and highlight what process is required to be followed in this context. A strong focus is made on the skills that are supposed to be adopted by the employees to gain maximum support for John. This person needs to understand business responsibilities that are about to come regularly and this research is expected to help this person grow. Resources along with information and communication technology are required to be analyzed for business development and functional areas development.
2.0 Business Definition
Business is identified as a set up of core components, products, and services that are traded for gaining some financial benefits. Together this financial structure makes it a system with enlarged components, human resources, and brand values
3.0 Functional Areas of business
A business that is operating on financial components requires proper support from its core people. It creates a self-estimated structure of the operation is associated with core functional areas of business (Hora, 2019). Human resource development along with financial management and business accounting is essential for managing a business. Every department is concerned with specific domains like services or decision-making. Business communication for the achievement of common business aims and success within a loyal customer base is identified as a functional area of business.
4.0 Key functional areas of business
Functional areas of business are identified as:
4.1 Human resource 4.2 Marketing 4.3 Finance 4.4 IT operations 4.5 Sales
All these operational areas are associated with quicker delivery of components and sustainable change management (Bean et al. 2018). All these areas are directly linked with business from any domain and no other person in this entire world can replace these components. Marketing is quite essential and it is associated with a global index of indulging inside the positivity of new business and achieving new heights.
5.0 Description of the various functional areas in business organizations
Marketing is a generalized term for the management of sustainable operations and gaining maximum component delivery. There is product marketing and campaign observation that associates with any business that John might develop (Bustamante, Guerrero, and Figueroa, 2020). Marketing contains 4P's that are essential in terms of product, place, price, and promotion of a new or existing business in this world. Marketing is identified as a process of meeting the needs of the customers by doing extensive market research and managing competitions in business. Marketing helps in identifying what the target audience wants and how that can be fulfilled. Gaining an overall review of services can be done through marketing. Highly skilled and educated marketing people are taken into consideration for giving maximum services to customers.
5.2 Human Resource Management
Human resource is one of the most important pillars of this business process. Without proper support from employees, there is nothing that can be achieved by leadership. Human resource requires complete competency management from the domains of finance, accounting, and IT support (Jacobs, and Wright, 2018). A person should get enough options to communicate, learn and grow inside an organization. Therefore, the organizational balance will be maintained and sustainability will be achieved. Human resource also deals with workers' mental dilemmas, sexual abuse, and fair pay scheme. Any sort of gender discrimination should be reported to the organizational head as well.
5.3 Customer Service
Customer service is the core model for business development. Any business will face loss if there is no customer service modeling done. All customers need to know that business providers care for them. Simply learning new processes and management of older ones helps in the client's overall development. Keeping a team ready for client communication 24*7 is another tactic of holding the market position (Majed, 2019). Clients should be felt proud of their process and they should be given top priority by high-quality services provided at a nominal cost. Moreover, protecting the sensitive personal information of clients is identified as one of the most important fields in managing the customer base and gaining loyalty from them.
Finance inside an organization is systematically involved within the core components of a business. Finance is associated with implementing new projects essential at low cost and keeping a complete business history of transactions made. All accounting issues are covered and contemporary business goals are settled up. Transferring money between organizational people and the government for seeking maximum attention is associated with the finance domain. Maximal efficiency and fundraising are done in a system of business. The financial position of a business decides whether a business is going to get developed or not. This is also associated with a comparative analysis of business decisions and identifying secure channeling. .
5.5 Research and Development
Research and development in business are associated with indulging in innovation and giving customers the desired element at the right price. All departments need proper training and analysis there should be IT analysis done on the significant management of components (Pierce, Gould, and Camiré, 2017). There is sales development indulged with a research of new aspects and business development. Process of ensuring a better production is done through research and development.
Sale is an important aspect of developing a business. The sales managers are frontline warriors for engaging customers in product delivery and sales. There are close monitoring teams engaged within sales. Some primary research is done on the requirement of customers and the product is delivered accordingly. The generation of sales components is indulged within a systematic involvement of functional development. Customer development and human resource are essentially analyzed within the process of developing a new component and serving all human beings.
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:
Skills that are needed by marketing employees indulge in an interpersonal association of networking and empowering investments. Some important skills are associated with:
Creativity and imagination
Influencing and negotiating with clients
Organizational ability development
Teamwork and IT alignment
Numeracy and analytical ability
A successful marketer is someone that is simply managing sales and deriving successful components out of it. Public research, customer support are part of this field (Salun et al. 2021). Entry-level marketing competencies are achieved through systematic studies of high-level brand efficacy. Strategic and administrative rules and regulations proceed based on intuitions. Integrating psychological implementation is important in stress management of employees and developing marketing skills.
6.2 Skills needed by Human Resource Management employees:
Essential skills that are associated with human resource development are Communication, organization, tech-savvy appearance, negotiation, flexibility, and patience. Compassion along with being committed to specific work is aligned with human resource development. More management skills are associated with being patient and excellent management of communication:
Employee handbook updates
6.3 Skills needed by Customer Service employees:
Some most important customer-service employee skills are as follows:
Self-control and taking responsibility
Persuasive speaking skills
Ability to use positive language
Willingness of improvement
6.4 Skills needed by Finance employees:
Finance employees require complete skill development that counts. A formal accounting qualification is associated with interpersonal skill development and operation. The practical ability of communication is also incorporated inside the skill book (Sousa and Rocha, 2019). The ability of a strong work process and oral communication is indulged within this process. Finance employees need to have good problem-solving skills and knowledge of IT software. Capacity for innovation and implementing them inside an organization is important.
6.5 Skills needed by Research and Development employees:
Skills are associated with the research and development organization of employees. Thinking and reasoning skills are associated with researchers and developers to become successful. A clear big picture of projects to get started and finished is required as well. Staff management and engaging in the thought process of new product ideas are seen as important for ensuring communication with colleagues and lower grade staff.
6.6 Skills needed by Sales employees:
Customer-facing and sales development
Discovering the business acumen and social selling
Storytelling is also important
Objection handling (Sousa, and Rocha, 2019)
Time management and planning
Collaboration of work
Virtual prospecting efforts are managed through efficient component development and mastering the art of collaboration and proposing AI-powered analysis.
This research has contributed to the analysis of certain factors that will help John to develop a business empire and analyze each statistic individually. There is an explanation presented on the specific skills needed by a group of people to successfully operate on componential work and skill development.
Hora, M.T., 2019. Beyond the skills gap: Preparing college students for life and work. Harvard Education Press.
Bean, C., Kramers, S., Forneris, T. and Camiré, M., 2018. The implicit/explicit continuum of life skills development and transfer. Quest, 70(4), pp.456-470.
Bustamante, S.D.J., Guerrero, A.M.C. and Figueroa, H.Y.C., 2020. The reality in the training of financial administrator skills: a look from the business culture approach in San José de Cúcuta. Journal of Administrative Science, 1(2), pp.12-21.
Jacobs, J.M. and Wright, P.M., 2018. Transfer of life skills in sport-based youth development programs: A conceptual framework bridging learning to application. Quest, 70(1), pp.81-99.
Majed, S.Z., 2019. The role of leadership soft skills in promoting the learning entrepreneurship. Journal of Process Management. New Technologies, 7(1), pp.31-48.
Pierce, S., Gould, D. and Camiré, M., 2017. Definition and model of life skills transfer. International review of sport and exercise psychology, 10(1), pp.186-211.
Salun, M., Zaslavska, K., Vaníčková, R. and Šindelková, K., 2021, January. Formation of Entrepreneurial Skills in Students in a Changing World. In SHS Web of Conferences (Vol. 90, p. 02009). EDP Sciences.
Sousa, M.J. and Rocha, Á., 2019. Digital learning: Developing skills for digital transformation of organizations. Future Generation Computer Systems, 91, pp.327-334.
Terziev, V. and Arabska, E., 2017. Skills requirements from advisors so as to provide effective support to social enterprises. Available at SSRN 3143010.
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