Functional Areas of Business
Management MGT/521
Functional Areas of Business
The functional areas of business are areas that allow the organization to operate, develop, and progress abiding by laws and regulations when implementing policies and procedures in the organization to all employees and management. There are 10 functional areas of business: Management, law, human resources management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. The two functional areas that will be covered are human resources management and strategic planning because these are the two related to the human resources manager and developing the organization into a
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Mostly following these steps will provide the organization with the success and progress it is looking to gain moving into the future of its operation.
Role in Functional Areas
In the Human Resources Management and Strategic Planning areas, the specific role of the human resources manager would be greatly involved. First, because the role is acting as a Human Resources Manager, the role in the Human Resources Management area would be recruiting, interviewing, hiring, consulting, strategic planning, and any other tasks that may be presented. The human resources manager is one, if not the only, key person in the organization. This person staffs the organization while following all laws and regulations associated with the specific state it represents. Along with staffing the organization, this person is also responsible for creating and implementing all policies and procedures for employees to follow. This allows the organization to run smoothly and efficiently to complete the tasks it has to get done.
Strategic Planning is also part of a human resources manager role because the human resources manager is involved in the strategic plan process of the organization. The human resources manager is involved in assessing the organization to see where it stands, where it needs to be, and
According to"The Princeton Review"(2013), The primary functions of human resources are “to ensure the oversight and appropriate matches made between the producers and support staff, between managers and the managerial assistants and between co workers and subordinates.” Human resources are the ones who ensure all laws of the company and organization are adhered to, The Human resources departments
Human Resource (HR) strategic plan’s outline short term goals that have been aligned with their organization’s strategic plans. With the HR’s goals being aligned it also helps the representative know how much man power is needed from the budgeting process done through HR. The HR function of an organization is responsible for ensuring top talent is recruited and retained, which means ensuring success of an organization’s strategic plan.
There are 3 core functional areas in every organisation. These core functional areas are marketing, production and finance or accounting. Although these functional area play their roles specifically, all the areas do actually relate together and have a specific goal. Each of these functional areas have to play their own part well only the organisation goal can be achieved.
The main functional areas of a business are marketing, human resource, finance, information systems and production. All these interact with each other in different ways but all contribute to effective management. Management would not be completely effective if one of the above areas are missing. They are all needed in different ways to make sure that the business reaches objectives, achieves effectiveness and efficiency and while doing this trying to get a balance in which they can satisfy different stakeholders.
A). Functional areas are mainly used in large businesses, because they usually work in departments, each department work using the functional areas that relate to it’s particular area. They are mainly used to ensure that business activities are carried out efficiently and are need if a business is to achieve it’s aims and objectives. The main functional areas in a business are:
These three function groups are categorised based on their fundamental and immediate functions required to carry on the primary and ancillary (supportive) business processes. These three groups cannot operate independently, as they are interdependent for execution of their respective tasks or
Human Resource Manager focuses on three main areas which are Recruitment of, Management of and providing training for the people who are employed within the organisation. This department deals with hiring, health and safety, motivation for the employees (such as bonuses) and managing the performance. An organisation that I will be relating this too is Tesco. There are three main factors that Tesco has to consider and they are Internal planning, External planning and Employee skills.
share a seat within the management table (Davoron, n.d.). The key responsibilities that are associated with human resource currently are to help downsize, retrain and recruit employees, rebuild organizational capabilities, and many more. This is why I disagree with your statement that human resource role are the same because there are many roles that that that are associated with.
Every business is managed through multiple business functions each responsible for managing certain aspects of the business. There are four main types of operations found within businesses:
Human resource handle administrative functions in an organisation and Human resource planning expand strategies for relating the skills and size of manpower to enterprise needs. In simple words the planning system makes recruitment, gives training and restructures the staff requirement to meet the organisational goals and changes within the environment. Human resource planning is a paramount component of Human resource management.
Director of human resources has many responsibilities and duties. Some of these duties include developing organizations strategies identifying and researching human resources issues; contributing information, analysis, and recommendations to organization strategic thinking and direction; establishing human resources objectives in line with organizational objectives.
In Strategic Human Resource Management functions these functions are expanded to include the roles of the employees, their behaviour and management of organisational change in order to meet the longer-term needs.
Provide the resources to identify and hire the right people to perform the job. As well as provide assistance with identifying and documenting company and departmental goals based off the strategic plan. Lastly, the human resource areas should provide guidance and direction on what the best tool(s) are for measuring the success of the company’s or department’s goals.
One of the important functions Human Resource (HR) managers should focused on is retaining critical resource. Bringing flexibility in the working environment is one of the solutions.
The functional business areas differ for different types of organizations, such as hospitals, universities, government agencies and so on. In a hospital, for example, functional areas may include cardiology, hematology, nursing, maintenance, physician support…