...Fuctional Area of Business MGT/521 01/21/2013 Master in Business Administration (MBA) is the next step in business degree. It will help me understand the business world & business practice for better future career opportunities. Most businesses consist of number of different deparment, which has specific job or task to do that is called functional area of a business such as accounting/finance, marketing, operations, human resources and administration. This degree will help me understand each department of business and what roles managers play in each deparment. All business will carry out each functions but not every business will have a separate deparment that is responsible for each function. All businesses need to be well organized to achieve their aims and objectives. Certain tasks, or functions, must be done regularly and these are usually grouped into specific types of activities. All businesses will carry out each of these functions but not every business will have separate deparment that is responsible for each functions. It is all depends on the size of organizations. All functional are of business are very much important to organization. Few functional areas that interest me are Human Resource and Finance. Human Resources is important department. The main purpose of Human Resource deparment is to recruit, select, train and develop staff. This means that they have to find right people at right place at right time and it is the responsibility of Human...
Words: 1232 - Pages: 5
...Master in Business Administration (MBA) is the next step in business degree. It will help me understand the business world & business practice for better future career opportunities. Most businesses consist of number of different deparment, which has specific job or task to do that is called functional area of a business such as accounting/finance, marketing, operations, human resources and administration. This degree will help me understand each department of business and what roles managers play in each deparment. All business will carry out each functions but not every business will have a separate deparment that is responsible for each function. All businesses need to be well organized to achieve their aims and objectives. Certain tasks, or functions, must be done regularly and these are usually grouped into specific types of activities. All businesses will carry out each of these functions but not every business will have separate deparment that is responsible for each functions. It is all depends on the size of organizations. All functional are of business are very much important to organization. Few functional areas that interest me are Human Resource and Finance. Human Resources is important department. The main purpose of Human Resource deparment is to recruit, select, train and develop staff. This means that they have to find right people at right place at right time and it is the responsibility of Human Resource to train and develop them to make sure that they...
Words: 987 - Pages: 4
...in this class I would like to give an example what Avian Ecology is before I start to elaborate on my research. Avian Ecology is a classic study to see if birds segregate themselves by habitat and food. Although there are many field methods available for conducting avian ecological research; bird counts are a good way to estimate population size, detect changes in population size or species diversity, and determine the cause of the changes in environmental or habitat and plenty of data and research is collected. I will also analyze what type of environment theses birds like to be in and how do they function in certain areas as well as the type of food these birds like and dislike. I will be collecting my data and research in Bay St Louis, MS. This area has a lot of birds and a great place for doing research on the studies of birds. Since this time our research has to be in an area in Mississippi instead of being in our own back yards I had go to my dad’s home to observe these different types of birds and to watch their activities. The different types of birds that I have observed are the northern mocking bird, blue jay, a house wren, mourning doves, red bellied wood pecker and a few others just to name a few. As I was starting on my...
Words: 2438 - Pages: 10
...Manager within the Functional Area of Business MGT/521 June 9 2014 There are varieties of ways of dividing functional areas of business. The most commonly stated functional areas of business are Marketing, Operation Management, Human Resources, and Finance. In addition communication plays an important role in the organizations function. Even though communication is not designated as separate function, communication play a cross functional role. Functions are very important for developing goods and services and making it reach to the consumers which are called task functions. Task functions are basic activities that relates to the completion of the product. Also, there are other functions which are not directed towards are the end results which is known as element function. Some examples of element function are Human Resources, IT, Quality Control, and Maintenance. For each function there is a manager that oversees the work and helps with the coordination of activities and make sure the activities are completed effectively. In addition, there is also a function in management which consists of planning, leading, organizing and controlling. Even though there is a manager in all area of the business, each manager has their way of managing their functional area of the business. Though a business has many functions, a business cannot be viewed as a set of functions which include the following reasons. * There are overlapping functions. For instance a Product...
Words: 965 - Pages: 4
...within Functional Areas of Business Fernando Franco MGT/521 June 1, 2015 Natalie Casale ROLE OF A MANAGER WITHIN THE FUNCTIONAL AREAS OF BUSINESS The role of a manager can be one of the most challenging jobs ever in existence. A manager’s role is to perform within the functional areas of a business. A business has different components that make up the organization; these are usually Finance and Accounting, Research and Development, Sales and Marketing, Production, Human Resources, IT, and Distribution. The role of a manager in each of these components that make up a business is to to balance out the environmental factors while effectively performing the four functions of management within each of them which are; planning, organizing, leading and controlling. In order for a manager to be successful he or she has to embrace and understand the management role. Robbins and Coulter (2012) defined a manager as “someone who coordinates and oversees the work of other people so that organizational goals can be accomplished” (p. 6) ROLE OF A MANAGER WITHIN THE FUNCTIONAL AREAS OF BUSINESS A manager must understand this definition in order to perform effectively the four functions of management. By mastering the four functions of management a manager creates an environment where the employees can perform at there very best potential. A business or organization...
Words: 890 - Pages: 4
...Functional Areas of Business Paper Shaunelle Orridge MGT/521 August 25, 2014 Ellen Thomas When pursuing a Master’s of Business Administration (MBA) degree, individuals may be under the impression that having that degree will increase career success. According to Hay and Hodgkinson (2006), “a popular conception surrounding the MBA degree is that it leads to fast track career success, typically construed in terms of improved salary and hierarchical position ([10] Baruch and Peiperl, 2000; [12] Carnall, 1992)” (vol. 11(2), 108-124). Finance and Accounting, Leadership, Production and Operations Management, Marketing and Sales, Research and Development, and Human Resources are the primary functional areas of business. How does a successful manager operate within functional business areas? In this paper, I will analyze the role of a manager within the functional areas of business. In addition, issues that pertain to leadership in these roles will be addressed. I will also depict the successful manager in these roles in order to answer the question posed. Managers in the Functions of Business Businesses, whether large or small must implement crucial functions in order to stay productive and profitable. These functions may include monitoring inventory, purchasing stock, performing accounts receivable functions, or the hiring and firing of employees. Strategic planning is also a key area in the functional areas of business. Functional areas include: * Production...
Words: 1042 - Pages: 5
...the functional areas of business The primary responsibilities of a manager within the functional areas of business is to create an image of himself with the organization which helps in delivering the tasks as per the vision and mission of an organization by influencing the team positively. In today’s fast paced globalized and technological enhanced business environment the roles of the managers in the success of an organization is critical to the organizations success. This paper will discuss and evaluate aforementioned from the views of two articles and will confer the understanding and view of a modern leader. The role of managers is not limited to carrying out the daily activities of their respective teams. The functional area of the business determines the entire value chain and how effectively it can be optimized. The critical elements for the managers are to eliminate waste and inefficiency. The writer will evaluate two ‘journal articles’ in order to understand the role of managers in different areas of business. The article by Murale and Preetha (2011) discuss about the different behavioural paradigms that outline effective management. The second article by Pappa and Stergioulas (2008) draws attention to the rising role of technology in streamlining The functional area strategies of a business are concerned with approaches, practices and the actions of the organization. Since every department is carrying out a particular function of the business, the overall game...
Words: 1771 - Pages: 8
...Functional Areas of Business How often do managers fail? Statistic shows that 50% or more of middle managers fail to achieve the expectations of those who promote them (Business Know-How, 2014). It is apparent with statistic like this it is a difficult job to be an effective manager. Many managers assume that managing a business is just an extension of managing themselves and their personal lives. In fact, becoming a successful manager requires personal development, as well as, a desire to learn and such a transformation does not occur overnight. A manager who wants to advance in the organization must also acquire knowledge of certain functional areas of business. Having a clear understanding of these functional areas enables a manager to make comprehensive business decisions. In this paper different functional areas of business will be identified. In addition, the role of a manager within these functional areas will be analyzed. What does the term functional area of business mean? All successful businesses must operate a number of functions to ensure the business runs smoothly, and these functions link to the goals and objectives of the business. “In large, organizations employees are arranged into departments specializing in certain tasks. These tasks are considered functional areas” (Slide Share, 2014). There is no fixed rule in determining what main functional areas of business are. However, successful structured organizations incorporate the functions listed below: ...
Words: 1217 - Pages: 5
...Manager’s are integral in the proper functioning of a business. Even though the type of a business will determine varying roles and functions of a manager, all managers have the same fundamental functions that ensure the business runs as efficiently as possible.There are four areas that a manager deals with in the functional areas of any business. These four areas are controlling, leading, organizing, and planning.( Bateman ) It is important to realize that the role of control for a manager is not negative in nature. In the functional areas of a business, control means that a manager is making sure that all areas from work goals to employees are stabilized. This means that a manager establishes clear guidelines for all employees to ensure that productivity occurs. The manager’s role with control means directing and monitoring the progress of all employees. This is done, in part, by controlling the environment of the company, making sure that the work environment is conducive to achieving work established goals and deadlines. Control also means monitoring both internal and external elements that may impede the progress of the employees. One of the most important roles of a manager within the functional areas of a business is with leadership. Managers are expected to not only lead by example, but to direct employees to focus on short term, as well as long term goals. One of the goals for any manager is to increase productivity and cost efficiency. This is achieved by the leadership...
Words: 737 - Pages: 3
...Analyzing the Role of a Manager Within the Functional Areas of Business Kevin Woodbridge Management 512 02/03/2015 William Wider Analyzing the Role of a Manager Within the Functional Areas of Business A manager heading an organization can oversee a plethora of responsibilities, in which most of those duties are directorial in essence. In small corporations, the role of a manager is more so handy in all aspects of the company and may be a lot more hands on. However, in large businesses, there are various degrees of specific supervisory duties within each business function. Nevertheless, the prime responsibility for all managers is business growth and development. If an organization is coming up short of its goals as an operation, it is the manager’s role to adjust accordingly to ensure that everything is back on course. Every corporation operates by having various business functions where duties and responsibilities are handled by employees. These functional areas of a business can include Human Resource, Accounting/Finance, Legal, Information Technology, etc. Functional managers lead these divisions, in which they have a role and responsibility to strategize, shape, direct and oversee divisions to reach department objectives, which then leads organizational objectives (Bansal, 2014). “Manager is someone who uses authority and reason for efficient and effective problem solving and to mobilize, coordinate, and control organizational resources by the use...
Words: 1035 - Pages: 5
...accounting management are two additional areas that help to provide the financial monitoring of the business. These two areas are separate, but rely heavily on each other to monitor expenses, costs, and determine the profitability of the business. According to Pope (2010), “accounting academics who have successfully taken their knowledge into the real world often play important roles in helping financial statement users in the investment management and investment banking communities to interpret the accounting information that finds its way onto the large and expensive databases that help drive many investment decision models” (p.89). Budgetary considerations and revenue monitoring feed directly into the statistics that must be monitored to assure success. Economics and marketing management areas monitor the needs of the business and the image of the company. The economics monitors the supply and demand of the goods and services and assures that prices remain both competitive and in line with the public needs to find that fine line between too high and too low. Marketing helps to target the individuals and groups appropriately for advertisement and assure response to yield the desired image and goals. Human resources management involves getting the correct policies in place, ensuring they are being followed and getting the correct people in the correct places to allow the business to function. They must work closely with the law management areas to assure compliance with all state...
Words: 629 - Pages: 3
...------------------------------------------------- BINANI CEMENT LIMITED ------------------------------------------------- Binanigram A PROJECT REPORT ON RECRUITMENT SUBMITTED BY: SUBMITTED TO: RANU CHOUHAN Mr. Ashish Joshi M.B.A(III Sem.) R.A. PODAR INSTITUTE OF MANAGEMENT, JAIPUR DATED: 1 JUNE 2012 – 1 AUG 2012 ADDRESS: BINANI CEMENT LTD. BINANIGRAM PINDWARA, DISTT. SIROHI RAJASTHAN ------------------------------------------------- CERTIFICATE ------------------------------------------------- ------------------------------------------------- This is to certify that Ms Ranu Chouhan , student of M.B.A Of, (R.A. PODDAR INSTITUTE OF MANAGEMENT, JAIPUR) has worked on the Project entitled “RECRUITMENT”, which covered the topics Recruitment methods, Process, Factors affecting recruitment Selection etc, under my supervision & guidance. ------------------------------------------------- ------------------------------------------------- She has worked very hard & methodically. She has also fulfilled all the requirements assigned to her during her work. Her work has no resemblance with others. ------------------------------------------------- ------------------------------------------------- I recommend here by to examine the project...
Words: 7730 - Pages: 31
...purpose. Let’s will consider business organisations you are familiar with, focusing on their structure and purpose! The Organisation There are different types of Organisation: Self-employed Private Limited Companies Public Limited Companies Voluntary Organisations Charities Public Corporations Government-funded service providers Local Authority-funded providers Organisations Every organisation is made up of functions Examples: Finance Human Resources (Personnel) Operations (the making or doing) Sales and Marketing Management How do you build an organisation? Using the areas of its functions Example: Finance The area of business that deals with money Money can be stock, shares, employee wages, buildings and contents, buying and selling Area of considerable power and can tell how a business is performing Human Resources/ Personnel People! Area of business that deals with people such as: Pay Recruitment and Selection Training Contracts of employment Disciplinary/ Grievance Operations The “doing” Operations covers the areas of business that perform the tasks of the business such as: Building Developing new ideas Production plants Sales and Marketing This area of the business is the sales The costs of end product to make a profit (Private Sector) or deliver a service (Public Sector) Responsible for the image and life of business Management The Control Management is present in every area The management of people to...
Words: 1171 - Pages: 5
...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’...
Words: 580 - Pages: 3
...Functional Areas of Business - Marketing and Human Resources Functional Areas of Business - Marketing and Human Resources The MBA overview highlights several areas of business that are studied in the MBA program at University of Phoenix. Two of the functional areas of business that appeal to me are marketing and human resources. This paper will review these two business functions, and provide an explanation of the management role in each area. Marketing Business Function. The role of marketing in an organization is critical to its success. Marketing can be defined as “the management process through which goods and services move from concept to the customer” (businessdictionary.com). Marketing focuses on the marketing mix, also known as the four P’s of marketing; Product, Price, Place and Promotion. All four must be present and work together in order to achieve success with a product or service (Khonat, 2013). However, marketing is much more than just the traditional role of being charged with advertising and promotional plans. Today’s marketing operations require cross-functional and diverse teams to produce results (Scott, 2013). Scott (2013) goes on to explain that marketing must work with all areas of the business; for example, with sales and IT for customer relations, and with R&D and manufacturing with regards to new product development and innovation. The Marketing Manager. I believe that the role of marketing...
Words: 1143 - Pages: 5
