Get help now

Functional Areas of Business

  • Pages 3
  • Words 585
  • Views 486
  • dovnload

    Download

    Cite

  • Pages 3
  • Words 585
  • Views 486
  • Academic anxiety?

    Get original paper in 3 hours and nail the task

    Get your paper price

    124 experts online

    Functional Areas of Business

    Most organizations base their company structure on several functional areas. The functional areas typically seen in business include finance, marketing, information technology, human resources and, operations (Coulter & Robbins, 2012). The functional areas of business must work together to insure the success of the organization. This paper will discuss the role of management in these functional areas of business. Management

    Management’s primary function is to guide an organization to meet the company’s vision, goals and objectives successfully. Productive managers understand that effectively planning, organizing, directing and, controlling are essential business functions in order for an organization to run smoothly (Coulter & Robbins, 2012). A functional manager is an individual who has controlling authority over a specific department within a business.

    Functional managers generally communicate within that specific department and with each other. The departments typically found in most business structures include finance, marketing, information technology, human resources and, operations. Finance

    The finance department is responsible for managing the organization’s budget, figuring out financial projections for the company, monitoring the company’s cash flow, future financial obligations and investments. It is imperative that the finance manager collaborate across business functions to determine how to best distribute and manage the business’ assets (Coulter & Robbins, 2012).

    Marketing
    The marketing manager’s primary function is to persuade consumers to choose their organization’s goods and/or services over its competitor’s. To do this marketing managers must identify the consumer’s wants and needs by researching the market and developing a strategic plan. Information Technology

    Information technology managers are charged with the responsibility of applying and sustaining a company’s technological infrastructure.

    Information technology managers are also responsible for the organization’s computer software design, hardware, network planning, and data management systems. Human Resources

    Human resources managers are responsible for recruiting qualified employees for all business functions, setting up and, directing training sessions, conducting performance reviews, and processing terminations. HR managers are also responsible the organization’s benefits and works with the company’s finance department to process employees’ payroll (Wickramsinghe & Zoyza, 2009).

    Human resource management’s job is to coordinate individuals within the company to accomplish the organization’s goals and objectives. To do that the human resources manager must communicate with other functional managers. This communication is essential to properly staff their departments with qualified employees who encompass the skills and education necessary carry out that business function’s duties.

    Operations
    Slack, Johnson, and Chambers (2007) defines operations management as “the activities, decisions and responsibilities of managing the resources which are dedicated to the production and delivery of products and services.” Operation Managers’ primary function is to design, oversee, and control the production of a business’ goods and services.

    All of the functional areas of business are crucial to the running of any organization. Communication and teamwork is essential for the organization to achieve its goals and objectives. Functional managers are the departmental links that make it possible for needed information and support to flow across departments in order for the organization to operate effectively

    References
    Coulter, M., & Robbins, M. P. (2012). Management (11th ed.). Retrieved from https://newclassroom3.phoenix.edu/Classroom/#/contextid/OSIRIS:44395103/context/co/view/activityDetails/activity/93c6414e-a844-495b-97e6-f5979cbb1a01/expanded/False/focus-cmt/none.

    Slack, N, Johnston, R, Chambers, S 2007, Operations management, 5th edn,
    Prentice Hall/Financial Times, New York.

    Wickramasinghe, V., & Zoyza, N. D. (2009). A comparative analysis of managerial competency needs across areas of functional specialization. The Journal of Management Development, 28(4), 344-360. doi:http://dx.doi.org/10.1108/02621710910947371

    This essay was written by a fellow student. You may use it as a guide or sample for writing your own paper, but remember to cite it correctly. Don’t submit it as your own as it will be considered plagiarism.

    Need a custom essay sample written specially to meet your requirements?

    Choose skilled expert on your subject and get original paper with free plagiarism report

    Order custom paper Without paying upfront

    Functional Areas of Business. (2016, Apr 27). Retrieved from https://graduateway.com/functional-areas-of-business/

    Hi, my name is Amy 👋

    In case you can't find a relevant example, our professional writers are ready to help you write a unique paper. Just talk to our smart assistant Amy and she'll connect you with the best match.

    Get help with your paper