Key Business Functions and Skills Sets Required

Functional Areas in Business Organizations

Discuss key business functions and the skills sets required for working in these.

John is 21 years old and has very little work experience, he has just won £10 million on the lottery. John has decided to buy a local company (IOM Electronics Ltd) with a view to also running the company himself. The company is a well-known regional organisation with 200 employees based over two sites in Manchester and Liverpool. John is well aware of the fact that he has no understanding of many of the practical requirements and responsibilities involved in running a business. He has hired you in the role of consultant to produce a report advising him in the following areas:

1.Describe the various functional areas in business organisations.

2.Describe the types of skills needed by employees to be able to work effectively in these functional areas.

Virtually all of the relevant information/skills accurately deployed. Excellent and exceptional grasp of theoretical, conceptual, analytical and practical elements. Very effective integration of theory, practice and information in relation to the objective of the assessment. There will be evidence of originality and creativity as appropriate to the subject.

Good grasp of theoretical, conceptual, analytical, practical elements. Effective integration of theory, practice and information in relation to the objectives of the assessment.

Some of the relevant information/skills accurately deployed. Adequate grasp of theoretical, conceptual, analytical and practical elements. Fair integration of theory, practice and information in relation to the objectives of the assessment.

Some omissions in the deployment of information/ skills. Some grasp of theoretical, conceptual, analytical and practical elements. Limited integration of theory, practice and information in relation to the objectives of the assessment.