...Functional Areas of Business Derek Davis MGT 521 July 22, 2013 Shelia Porter Functional Areas of Business A quality MBA program provides business leaders with the business acumen to succeed in all functional areas of business. These functional areas of business include management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic management (University of Phoenix, 2013). Two functional areas that involve leading people include leadership and human resource management. Organizations with a strong leadership team are poised for success in the marketplace. This success is a result of maximizing the human capital potential and growth opportunities within a company. Yukl (2009) in his book "Leadership in Organizations" proposes that the leadership function in business has 10 attributes critical for organizational success. The leadership function aligns objectives and strategies to facilitate movement toward a stated vision. To accomplish the organizational vision the leadership function must build mutual trust and commitment among all internal and external stakeholders. This sense of trust is developed through effective communication and sharing openly with others who have a stake in the business. Leadership teams explain the meaning of events and how that impacts the organization so that all stakeholders are well informed. This communication leads to building task...
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...Manager in Functional Areas of a Business MGT 521 March 9, 2015 The Role of a Manager in Functional Areas of a Business The employees in a functional area of business have specific roles in the departments to further the goals of the company. The functional areas of a business are human resources, management, law, leadership, accounting, finance, research and statistics, marketing, economics, operations management, and strategic planning. A functional organization structure will group its employees by different skills to put them in the correct functional areas. Business managers perform all activities in an organization, they usually calibrate these activities by skills that the employees have to do their jobs. A manager is a person that leads, plans, organize, and control their employees. “When a company assigns specific functions to employees it will help prevent errors, reduce cost, and ensure work gets done.” (Ashe-Edmunds, 2015). Functional managers lead their departments by planning, organizing, and controlling the functional departments in a business: human resource, administration, finance, accounting, law, economics, operations, marketing, research, leadership and strategic planning. Human resource, legal, and administration is the departments that makes sure the company stays in compliance with state and federal laws, hiring employees, to get employees proper training to do their jobs, and establishes pay scales for employees. Human resource manager...
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...Please evaluate each comment carefully to ensure that the suggested change is appropriate for your paper, but remember that your instructor's preferences for style and format prevail. You will also need to review your own citations and references since WritePoint capability in this area is limited. NOTE: WritePoint comments are computer-generated writing and grammar suggestions inviting the consideration and analysis of the writer; they are not infallible statements of right/wrong, and they should not be used as grading elements. Also, at present, WritePoint cannot detect quotations or block-quotes, so comments in those areas should be ignored. Please see the other helpful writing resources in the Tutorials and Guides section of the Center for Writing Excellence. Thank you for using WritePoint. Week 2 Functional Areas of Success Nikitta Echols Nikitta Echols MKT/521 March 18, 2012 Jerry Davis WEEK 2 Functional Areas of Success Over the course of the last two weeks, I learned several new things about myself that will permit me to become an executive administrative assistant. I, of course, plan to reach to my highest peak of success by opening a software company that uses the functional corporate strategy. Becoming an entrepreneur apparently is starting a new career; therefore, I think it is correct to define an entrepreneur. An entrepreneur is somebody who starts or finances new companies. The entrepreneur spirit can begin at a young age but cannot start legally...
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...analyze some of the roles of a manager within the functional area of business. The areas I will be discussing will be Human Resource (HR) Management and Leadership. In the functional area of human resources, an effective leader or manager plays a very important role in ensuring smooth and efficient functioning of the HR department. In today's times, human resource management is not just considered a routine function, but an integral element of the strategic plan of an organization. HR managers and leaders are extensively involved during the strategic planning stage. An effective HR leader or manager ensures smooth and efficient alignment between the HR strategy and overall corporate strategy. He or she ensures that the goals of the HR department are well aligned with corporate philosophy, mission, vision and goals of the organization. The manager or leader has to display strong leadership skills for ensuring smooth integration of the HR department's strategies and action plans with other departments or functional areas of the organization. HR department deals with the most important asset of an organization, ie, human resources. Hence, an effective leader is required to lead this department because such a leader can lead the employees of the organization in the right direction. HR managers and leaders should display strong leadership skills in order to guide and motivate employees in the organization. Human resource management includes recruitment and selection...
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...planning and execute your strategy in order to have your functional areas up to speed. There is no time to waste in meeting the goal. Plans have to be developed, current employees retained, and new employees hired. Company communications must be clear and concise and the management cycle followed throughout the process. You will serve as the department manager for two functional areas. One is the human resources department; the second is your choice of one of the three other areas: accounting and finance, marketing and sales, or operations and production. Ms. Atha has assigned specific goals to the vice president of your functional area. The vice president has determined what your department needs to do to help the entire functional area succeed. Those goals are in alignment with the overall company goal of doubling sales. Your responsibility is to break those goals into activities and tasks for your department. You have one or more supervisors in your department. Each supervisor has several employees to lead and control. Each individual must know what they are to do, how or why to do it, what the quality and performance standard is, and how well they are doing. It is your responsibility to align the work of your group with the company goal. You will provide them with the information they need and ensure that the work is completed on time and meets performance and quality standard. Functional Area Background Plan:...
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...Functional Areas of Business Regardless of the different strategies and missions companies may have, all types of organization share a common denominator. This common denominator is the functional areas of business that companies have no matter what types of industry they are in. The functional areas of business may vary from company and industry but its core elements exist in any operating entity. Some of the common functional areas of business are marketing, finance, and accounting. Although a company’s success greatly depends on the collaboration of different areas of expertise, strategic planning and human resources management are two important functional areas an organization must have to compete and survive in today’s dynamic economy. Strategic planning is the functional area of business that focuses on creating plans to make sure the organization’s goals are accomplished. Managers use strategic planning to bring aspects of the company together (University of Phoenix, n.d). Management from strategic standpoint is crucial in an organization because it provides leaderships and connects business functions together while making sure that they are working efficiently. With the ever-changing global workforce, managers face new challenges from the external and internal environment. One of the growing issues in strategic management is constant change of the external environment. Management not only has to focus on shareholders but also stakeholders and maintain good public...
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...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 reach their full ability to do required task. Human resources take part in rang of different activities such as focus on the needs to all the staff, look after the member of staff, coordinate central services, and training, development and promotion. The Human Resources department...
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...Managers Role In Functional Areas Of Business 1 Managers Role In Functional Areas of Business MGT/521 January 12,2015 University of Phoenix Managers Role In Functional Areas of Business 2 According to University of Phoenix MBA overview, businesses have eleven areas within the company that play a major role with its overall success. (University of Phoenix). Without these functional areas working symbiotically, the business would most likely not be able to operate at its fullest potential, and it would ultimately not succeed. Each functional area is important and offers a very specific objective to ensure the organization’s success but what is more important than these functional areas of business is the manager, the person behind the scenes making sure that all of these areas of a business and the employees are operating to the best of their ability in order to make the businesses a success. “Managers perform certain activities or functions as they efficiently and effectively coordinate the work of others (Robbins & Coulter).” In this paper I will discuss three of the functional areas of business management, human resources and marketing and what role a manager plays in that functional area of business. Management...
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...The Functional Areas of Business Management 521 March 4, 2013 Abstract Companies are formed [The passive voice is a form of "be" (are) and a participle (formed). Over-use of the passive voice can make paragraphs officious and tedious to read. Prefer the active voice. For example, passive voice = The paper was completed on time. Active voice = the student completed the paper on time. See Center for Writing Excellence > Tutorials & Guides > Grammar & Writing Guides > Active & passive voice] in different ways. There are small businesses with no definite functional areas because the owner performs almost all the tasks. When the business expands, it is necessary to have specialized department or functional areas. Functional areas are structured [Passive voice ] by different departments with different tasks and responsibilities. These functional areas are group of employees with diverse skills and expertise. Functional areas may include client service, operation, finance, human resources, marketing, and administration and [in academic writing, if this is a series, place a comma before the final conjunction (and)] IT support. These functional areas leads to more well organize business practice. ...
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...directly markets one product: a unique coffee cup with a patented ball bearing sliding mechanism. Nathan Jr. and a group of 10 other executives run the company. A Little Cup of Joe Corporation has received a large sum of money from a venture capitalist. The venture capitalist and Nathan Jr. are predicting 100 percent growth in five years. To achieve that growth, productivity will need to increase at a similar rate. Therefore, this proposal provides a suggested business model update. Further, the functional areas updates are indicated to assist the business model to predict, plan, and implement future growth and profits. In this proposal, the problem of the outdated business model and functional areas is addressed with new ideas and new employees to implement them. The 100 percent growth projection in five years can become a reality with the managers’ ideas about these questions: Executive Summaries The Accounting and Finance Area is one of the main parts of A Little Cup of Joe. Having A Little Cup of Joe accounting in top shape all year round will help the business function smoothly and provide grounds for sound and promising business decisions. By accomplishing this A Little Cup of Joe will hiring experience and ethical accounting team members. Each team member will adhere to A Little Cup of Joe’s code of ethics including Professional ethics and making sure the data provided to the stakeholders is accurate. A Little Cup of...
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... |Date Completed 11/30/2014 | Purpose and Overview The purpose of this assignment is to help you prepare for successful, enjoyable participation in a positive team experience for Units 8–10. In this assignment, you will research and compose descriptions of a fictitious anonymous company's five functional areas. Further, you will explore organization’s code of ethics and executive summaries of reports to understand what they are and how to compose them. Your main task is to develop a broad overview of the mission and purpose to be prepared to participate in the team activity for Unit 8. Note: Your assigned role for the team is not needed or related to this assignment. As you complete this assignment on this template, refer to information provided in the unit 7 studies. Specifically, utilize these provided resources and perform research to satisfactorily complete this assignment. • Teamwork Activity Challenge. • Organizational Structure reading. • Functional Areas Managers reading. Important: This assignment is due Sunday of week 7. Learners completing it on time will be performing Unit 8 as part of a team. Learners without a successful, timely assignment cannot be on a team. Important: Utilize paragraph structure in your document, not outline format, and support your ideas with references. References can include those identified from both the...
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...The Functional Areas of Business Management 521 March 4, 2013 Abstract Companies are formed [The passive voice is a form of "be" (are) and a participle (formed). Over-use of the passive voice can make paragraphs officious and tedious to read. Prefer the active voice. For example, passive voice = The paper was completed on time. Active voice = the student completed the paper on time. See Center for Writing Excellence > Tutorials & Guides > Grammar & Writing Guides > Active & passive voice] in different ways. There are small businesses with no definite functional areas because the owner performs almost all the tasks. When the business expands, it is necessary to have specialized department or functional areas. Functional areas are structured [Passive voice ] by different departments with different tasks and responsibilities. These functional areas are group of employees with diverse skills and expertise. Functional areas may include client service, operation, finance, human resources, marketing, and administration and [in academic writing, if this is a series, place a comma before the final conjunction (and)] IT support. These functional areas leads to more well organize business practice. ...
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...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 Resource...
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...Functional Area of Business Manager Role within Functional Area of Business Shyam Sunder Bansal MGT/521 July-28, 2014 Sandra Griffin Manager Role within Functional Area of Business Business functional areas are nothing but departments, teams or divisions where each unit performs similar tasks and activities carried out by employees possessing common skills and expertise. For example: Finance, Sales & Marketing, Administration, Human resource, Production, Legal and Research. Though all business performs all activities and actions for performance but big organization normally have a separate function for concentration of typical activities. Functional managers head these departments, who have role and responsibility to plan, organize, direct and control department/division or team to achieve department objectives and finally organizational objectives. Who are managers and what they do? “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 of standardized procedures that are a part of organizational policy” (Prevodnik, M., & Biloslavo, R., 2009, P.87). As we know that Manager is a person who uses all management functions like Plan, Organize, Lead and Control to perform business functions successfully. The roles of manager include directing, overseeing and leading resources of the organization towards objective led by organization and then sub-divided...
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...a large sum of money from a venture capitalist. The venture capitalist and Nathan Jr. are predicting 100 percent growth in five years. To achieve that growth, productivity will need to increase at a similar rate. Therefore, this proposal provides a suggested business model update. Further, the functional areas updates are indicated to assist the business model to predict, plan, and implement future growth and profits. This proposal describes ideas for McCray’s updated business model. Executive Summary Here In Alabama today there are approximately 200 foundations that provide grant funding to a wide variety of nonprofit organizations for big or small. A significant portion of the grant funds provided by these foundations is given to nonprofits for educational and social service programs. Additionally, State and local government in Alabama regularly request proposals or applications from Alabama’s nonprofits to provide education and social service programs. But, competition for foundation and government agency funding is steadily increasing. Functional Area Plan: Accounting and Finance Accounting and Finance Manager Composition Just like anyone in the medical or law profession, accountants have to adhere to a code of ethics. They are responsible for tracking all financial gains and losses...
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