Functional Areas of Business
Functional Areas of Business
This paper will address a couple of the functional areas of business. These functional areas are the ones that the author feels are of the most interest to them. Also there will be an explanation of what their role as a manager would be in these functional roles.
In most organizations, there are several functional areas of business. These areas are marketing, operations management, finance and human resource management. All of these areas work hand in hand with one another so that organization can function effectively and efficiently. These functional areas of business are also known as task that the business needs to do in order for it to succeed. According to Jiang, “what a whole organization needs is to make strategic decisions and put the strategy into action” (Jiang, 02/2). This is what will make the organization thrive and grow.
Human resources management is a part of administration. In administration, they do many things that are a necessity within any organization. They collect mail, store and retrieve paper and electronic records, organize meetings, and prepare documents to name a few. Also in the human resources department they work on the staff. This can include recruitment and dismissal, training and development, health and safety, also employee organizations and unions just to name a few.
A manager in the human resources department is one of the most important jobs in an organization. They are responsible for taking employee complaints, mediate conflicts, and to promote communication. Human resources (HR) managers are also responsible for providing information about employee benefits. These benefits are those such as 401(k) s, health insurance, life insurance, and vacation time. A HR manager will conduct performance reviews in a lot of organizations and at times help with the allocations of layoffs or terminations of staff.
A HR manager must have in-depth knowledge of her organization's culture, policies, revenue, clients and internal issues. In most HR departments, the manager delegates responsibilities out to other individuals throughout the organization. The areas that a HR manager may delegate out are recruitment or payroll, monitoring progress and assigning duties just to name a few. An essential ingredient that a HR manager must possess is critical thinking. This is a key ingredient because organization rules and regulations are constantly changing and a HR manager must be able to make alterations to these changing policies and procedures. Sometimes they have to be able to analyze these changes and proceed with the changes without a lapse of judgment or time.
Marketing is another important part of any organization. According to Jiang, it may be the most important part of any organization. So exactly what does the marketing department do? Well they carry out research to obtain feedback, analyze responses and advertising of research, promote products through advertisement, and organize sales promotions to name a few. A marketing manager should know the four P’s of marketing. These are product, price, place and promotion. These will allow for the manager to make the product different, develop a product image, market product, have competitive pricing, and promote the product. The managers may not do all of this themselves but they may delegate it out to qualified individuals in their marketing teams.
The marketing manager will have skills and knowledge of the company’s perception and