...Functional Areas of Business Paper MGT/521 A Master’s of Business Administration or (MBA) concentrates on the development in business administration. As a leader, I must become proficient in the functional areas of business and find ways to communicate information to managers for effective leadership and overall success of the business. Some organizations may consider other, if not all of the functions of business to be important. This paper will summarize the two of functional areas: Leadership and Strategic Planning and the importance of how this relates to the role of a manager. Leadership Leadership is earned. It is not granted by role or rite of passage. Once achieved, leadership is not sustainable without continuous proof of concept (Sederer, 2012). The author touched on a great point, I think it’s often misunderstood, the assumption that - just because one may hold the role of manager that automatically designates them a leader. (Robbins and Coulter, 2012) Strategic leadership is the ability to anticipate, envision, maintain flexibility, think strategically and work with others in the organization to initiate changes that will create a viable and valuable future for the organization. Leadership comes with an unsurmountable amount of task and responsibilities, catering to different forms of leadership is one of them, while still accomplishing the company’s goals. Strategic Planning Strategic planning...
Words: 619 - Pages: 3
...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
...Functional Areas of Business Paper Christina M Williams MGT/521 August 3, 2015 Lloyd Krieger Functional Areas of Business Paper Many companies base their organizational structures on various functional areas, creating departments around these functions and assigning responsibilities according to employees' job titles and experience. A functional organizational structure groups employees by various skills and expertise, leading to greater efficiency. Some of these areas include management, law, human resources, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. According to Robbins and Coulter study (2012), the management concept can be defined as an individual who is involved in the coordination and supervision of all work activities of their employees to make sure that the assigned activities were completed in an efficiently and effectively manner. This efficient and effective aspect of the managerial process requires that managers are doing the right thing within a rightful nature (Robbins and Coulter, 2012). Project managers handle making project goals their own and use his or her skills and experience to create a shared purpose within the project team. They enjoy the presentation of creating new challenges and the responsibility of stimulating business results. Project managers also work well under pressure and have the capability to adapt with change and run into many different situations...
Words: 1031 - Pages: 5
...managers play an important role to set clear expectations and goals for a company. The role of a manager in a firm is to be a leader and oversee the work of other employees allowing business to run smoothly and efficiently. Some functional areas of business include human resource management, strategic planning, and leadership that are an essential part of a business and managers must use to meet an organization's goals and mission. Human Resource Management Human resource management (HRM) manages the company's employees and handles personnel hiring, firing, benefits, wages, pensions, training, as well as the host of other tasks such as employee relations. The main responsibility of HRM is to process all of the applications who apply for the position and to make sure that the selection and hiring of the employees will best fit the company's requirement. "Human resources management in any organization has a great importance because it manages the most important and most expensive assets of the organization. The human resource management is linked with all the managerial functions involved in planning for recruiting, selecting, developing, utilizing, rewarding, and maximizing the Potential of the human resources in an organization" (Rawash & Saydam, 2012). Whether an organization has been in business for years or is just starting, getting and keeping talented employees is important to the success of every company. Finally, all managers engage in some HRM activities such as evaluating...
Words: 816 - Pages: 4
...The pursuit of a Masters of Business Administration (MBA) concentrates on the development in business administration. Organizations leaders have to study the functional areasof business and find ways to communicate these information’s to managers for effective leadership. Organizations formulate their organizational structures on numerous functional areas generating subdivisions around these functional areas and delegating responsibilities asnecessary. This paper focuses on the functional areas of business and the importance of managers to work in cross-sectional teams for a successful organization. Functional Areas of Business Small or large businesses have key functions to perform on a regular basis. It may includestock to be bought, bills to be paid, customers with questions, or other requirements that formsthe functional areas of the business. Small firms may have one or two people carrying out mostof these jobs. However, in large organization people with different task are specialized. Some large organizations have buyers purchasing stocks, an accounting department with staff to pay their bills and a customer service department with staff to checkout, service, and answer customers inquires. Therefore, the role of a manager within the functional areas of the business could either bring success or failure to the organization. Functional Areas in Business Organizations Because in a large organization, one could find people working together in departments;it is easier...
Words: 801 - Pages: 4
...Functional Areas of Business Paper Jose Aponte Rodriguez MGT 521 March tree 2015 University of phoenix Functional Areas of Business Paper In it we can see the managers of the organizations take a few key roles pair wings companies in which we work are key in what are the daily operations. All this is based on the different areas in which are handled all this as human resources and administration bone marketing all took a very important role in the company. This seeks the cooperation of the different areas to make all this work. And most importantly make this work to achieve the objectives of the company. We will see several companies in which we have examples to get this to work and managed to make it work. Level One Functional Areas of Business Paper Let's see how these changes created proactive changes and how to achieve what are alliances to manage to find what are the increases of the company, this time they used data from minority to achieve what was a functional food and what is the performance improvements in this company. In what was for those decades they saw best ways of strategies to be used since at that time one of his problems was the oil. This made them think about carefully sew them in what were the decisions since they had to be strategic, and it was of great importance that the Finance Department had to do with this direct mind to achieve the objectives in those moments Munsung Rhee and Satish Mehra & Satish (12/2013) Although these strategies...
Words: 1023 - Pages: 5
...Functional Areas of Business Paper Heather Souza-Rodriguez MGT/521 December 1, 2014 University of Phoenix Instructor Jose Pecero The requirements of a Masters of Business Administration (MBA) focuses on the development in the executive functions. Organizations have to research the functional areas of business to produce ways to communicate information from managers to other leadership by formulating organizational structures by subdividing functional areas and delegating responsibilities as necessary. This paper pinpoints on the functional areas of business through procedures of managers to work in multi-level teams. Functional Areas of Business Whether a small or large business, the must all have key functions to perform on a standard basis. This may require the projection overhead expenses and other financial diligence to ensure quality control, customer service, and employee retention. Companies differ through strategy and growth depending on the corporation’s capacity to produce, but the role of that manager in the areas of the functional business is detrimental to the corporation’s success or demise. Functional Areas in Business Organizations A large organization creates departments which are easily recognized for their separate functional areas. Pinpointed below are each department tasks that must be fulfilled as it relates to that departments requirement outline of tasks and possibly adapt additions to that Standard of Operations Policy. Organization Functional...
Words: 823 - Pages: 4
...Functional Areas of Business Barbara Butkiewicz MGT/521 June 6, 2014 Rodney Klein Functional Areas of Business Barbara Butkiewicz MGT/521 June 6, 2014 Rodney Klein Abstract Operating a business is a complex task which involves many facets. The MBA Overview Model defines eleven functional areas of business, including management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. In order to succeed in business, the organization must bring together the functional areas accordingly to achieve organizational goals. A critical role in any business is the manager. The manager plays an important part in utilizing each area to align the organization collectively towards economic prosperity. In this paper, I will examine the role of the manager in each of the functional areas of business. A business organization is a very complex structure. In order to be successful, a business needs to coordinate and organize many areas within the organization to achieve its mission. According to the University of Phoenix’s MBA Overview Model (2014), the functional areas of business include management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. An essential component to any business that intertwines the functional areas is the manager. The role of the manager...
Words: 1253 - Pages: 6
...Functional Areas of Business This paper will address a couple of the functional areas of business. These functional areas are the ones that the author feels are of the most interest to them. Also there will be an explanation of what their role as a manager would be in these functional roles. In most organizations, there are several functional areas of business. These areas are marketing, operations management, finance and human resource management. All of these areas work hand in hand with one another so that organization can function effectively and efficiently. These functional areas of business are also known as task that the business needs to do in order for it to succeed. According to Jiang, “what a whole organization needs is to make strategic decisions and put the strategy into action” (Jiang, 02/2). This is what will make the organization thrive and grow. Human resources management is a part of administration. In administration, they do many things that are a necessity within any organization. They collect mail, store and retrieve paper and electronic records, organize meetings, and prepare documents to name a few. Also in the human resources department they work on the staff. This can include recruitment and dismissal, training and development, health and safety, also employee organizations and unions just to name a few. A manager in the human resources department is one of the most important jobs in an organization. They are responsible for taking employee complaints...
Words: 868 - Pages: 4
...The pursuit of a Masters of Business Administration (MBA) concentrates on the development in business administration. Organizations leaders have to study the functional areasof business and find ways to communicate these information’s to managers for effective leadership. Organizations formulate their organizational structures on numerous functional areas generating subdivisions around these functional areas and delegating responsibilities asnecessary. This paper focuses on the functional areas of business and the importance of managers to work in cross-sectional teams for a successful organization. Functional Areas of Business Small or large businesses have key functions to perform on a regular basis. It may includestock to be bought, bills to be paid, customers with questions, or other requirements that formsthe functional areas of the business. Small firms may have one or two people carrying out mostof these jobs. However, in large organization people with different task are specialized. Some large organizations have buyers purchasing stocks, an accounting department with staff to pay their bills and a customer service department with staff to checkout, service, and answer customers inquires. Therefore, the role of a manager within the functional areas of the business could either bring success or failure to the organization. Functional Areas in Business Organizations Because in a large organization, one could find people working together in departments;it is easier...
Words: 506 - Pages: 3
...Club IT Rhoda Smith Business Information System XBIS/219 February 9, 2013 Michael Scott Club IT mission statement is to offer live music, A DJ’s, dance floor, and refreshments that suit individual lifestyle, and to build a community that individual can meet regularly. Club IT clientele is anyone over the age of eighteen who enjoy dancing and meeting other individuals. Club IT intranet site provides their customer the ability to have access to the club upcoming functions, eating menu, the staff, merchandise and the club staff such as new hires, and the employee of the month. The functional information system provides tools that can help manage and organize businesses. The information system specific functional areas are production, marketing, finance, personnel and accounting. Each of these functions requires application to perform well in each particular area. The financial information system will give Lisa and Reuben the ability to manage the process of the business financial functions such as availability and cost, budgeting...
Words: 1496 - Pages: 6
...Functional Areas of Business Brendaliz Medina, Edric Vázquez, Félix Tapia, Javier Acosta & Yun Hernández University of Phoenix MGT / 521 January 3, 2012 Prof. Elsie Jiménez Galarza Functional Areas of Business There are different forms of organizational structures that are used according to the needs of each company. In this document to better understand the utilities that have to make a study of the functional area of the company. Also this paper shows how each part, functions and areas of interest are necessary to complement and thus lead a proper structural relationship. The departments of Sales, Marketing, Human Resources and the role of the manager are the areas that we will be covering to ensure success and the proper functioning of the business. Also here are some recommendations to consider when performing the functions of each one of these. The Sales Department as a functional area on any kind of business gave a deep look on whom, how, when the working team wants to achieve their future goals at short and long terms. This part of business is the beginning and the heart of any company even is a service or a products selling company. The important role of the Sales Manager begins with the fact that they have to know every product or service from the beginning to the end. They are the ones who take the customers and convince them of the high qualities and the good usage of any product or service they sale (Mehta, Anderson, Dubas, Dubinsky & Liu, 1999)...
Words: 1132 - Pages: 5
...Functional Area Interrelationships Paper Steven Stoney BUS/475 May 22, 2013 David Bonilla Functional Area Interrelationships Paper Thesis statement: Even though the main argument of this topic would be business functions of an organization, knowing about the key functions of how a business functions as an organization. Because they analyze some of their key organizational structures employed by the organization and how they identify their key stakeholders and how their roles are being used to achieve the organizations goals. Introduction: In my introduction on the paper of functional area interrelationships in an organization I will be using a virtual organization from the University of Phoenix website (University of Phoenix, 2013). The organization that I will be writing my paper is going to be on Kudler Fine Foods. In this paper I will be discussing the primary reasons of why Kudler fine foods is in existence from an analysis point of view of their mission statement, vision, values, and goals. I will discuss on how this organization identifies their different business functions from an employed business. Analyze the reason for the type of organizational structure employed by the organization, and identify the key positions that support that organizational structure. In this paper I will be identifying the key stakeholders and their roles needed to achieve the organizational goals, and recommend the collaborative interactions among the key stakeholders to facilitate...
Words: 445 - Pages: 2
...Functional Areas of Business Communication and cooperation has to be constant for maintaining the organization aims andobjectives. For these reasons joint decisions are made amongst departments, for fulfillingorganizational needs. Therefore, manager’s roles are more complex and demanding. Managers Role Managers have to find ways to remain confident, adaptable, and maximize profits for their stakeholders in the modern business environment (Parker, 2003). Studies have hypothesized in today’s fast and competitive business environment, manager’s role whether it is new product development (NPD) or activities that requires constant planning at various stages of the project;it is important to develop cross-functional teams (Koufteros & Marcoulides, 2006; Clark andFujimoto, 1991). Further studies by Carson, Tesluk and Marrone, 2007 “propose that when teams share the same voice, social support and shared purpose, the team is influenced anddevelop positively by shared leadership over time .” Manager’s role is to find ways to work effectively in the different functional areas for maximizing stakeholders profits. Conclusion Because, the pursuit of a Master ’ s of Business Administration (MBA) concentrates on thedevelopment in business administration, it is very important for organizations leaders to studythe functional areas of business, finding methods to communicate information’s to managers for effective leadership. After...
Words: 291 - Pages: 2
...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. ...
Words: 1152 - Pages: 5
