MGT 521: Functional Areas Of Business
Functional Areas of Business
MGT/521
Traci Thurman-Bowen
Abstract
This paper will analyze the roles of a manger within the functional areas of business threw Law, Human Resource, Leadership, Accounting, Research and Statistics, Customers, Marketing, and Strategic Planning. In conclusion of this paper all areas of management will be analyzed and the role of how each area connects to one another.
Functional Areas of Business
Management
The role of management is important due to that their positions are held accountable threw company’s plans and goals. A mangers job is to manage their employees under them to make sure there plans and goals are being met. It is important for a manger to have their team responding and completing …show more content…
the tasks that they are given. When a goal is met and accomplished through a management’s team, the plan can move forward to continue its objectives. To have a successful company every employee must give there 100% commitment to their company to reach their values and goals.
Leadership
An important role within management is Leadership.
Having that leadership will factor the tone of the company you want working for you. Your tone can either make or break your company. Being the leader of your company, you are given the opportunity to influence the people or companies underneath yourself. Failing to be that positive influence can bring a negative impact not only for your company but within the team you are trying to build.
Marketing
Marketing is one of the most functional areas in any business. Every Co-Founder of any company had an image of how they wanted to present their company. With marketing an image of the company is presented. There are various types of ways a company can promote a product or sales within their store. A few ways to market in this era is Television Ads, Movies, Facebook, Twitter, Instagram, Billboards, Vehicles and so on. Promoting a new product or sales will draw the attention of loyal and even new consumers to your store. By placing your AD’s you are promoting your company to have a positive impact on that consumer. …show more content…
Customers
Without customers no company will ever become successful. Customers are like gold mines to the company. Positively influencing one customer will help spread the word of your company. Having the loyal customers, management should find a way to set programs in which those members can receive a better deal within your company. Kmart is a company in which any member who signs up for the Shop Your Way Program will receive discounts, coupons and on top of that will build points in which they can cash out the points and use those points towards their purchases. Any motivation to get a customer back in the store will help impact your company financially. Without any customers you will not have a company.
Law
Business law is important rules and regulations that a Manager must be in compliance with to run a company smoothly. Companies must comply with Federal, State, and international regulations in order to run a successful company. A manger should know there legal aspects of their business to help resolve any situations that might happen in there company. From any type of inspections to employee accidents each legal aspect should be read and understood to help there company from major losses of currency.
Accounting
In a company’s point of view there are two types of accounting. Managerial accounting is a type of accounting that managers review the audits of currency that the store is retrieving and spending. Within knowing there actual income in either making or losing money; Managers then decide if they have enough income for new projects or cut budgets due to company not making money. Financial accounting basically inputs and studies there financial statements. Managers usually hire accountants to handle that type of job.
Research and Statistics
As a manager you would like to know the important roles in which parts of your company is positively impacting and failing. Researching in having customer surveys is a very good way to know how your business is functioning. When the data is retrieved and put in perspective also known as statistics; a manager can focus on the poor areas to influence positive experience for future customers. The gathering of data a presenting it to your team can help you build a plan to change the outcome you are seeking within your company.
Human Resources
Human Resource (HR) is another type of management role that helps a business in various ways. Human Resources takes the roll threw hiring and training individuals for their establishment. Human Resources also helps the store manager with payroll, scheduling and even helping with disciplinary actions. Human Resources personnel is an important job function to any company that needs that type of assistance.
Strategic Planning
Strategic planning are plans that help organize goals within your company.
These plans are decided by management in a way to influence their expectations. These expectations can include how managers want their company to run, or how they want every employee to work together to create better outcomes for the company. These goals help the organization effectively. Goals are different in each position of management. If one part of management fails to implement their goals then most likely the goals of the other managers will fail as well. Working together as a team to help figure the importance of each plan will help impact the company in general. Strategic planning helps combine the functional areas of
business.
Conclusion
This paper has presented the many roles that a manger can impact a company and the functional areas of a business. These areas in Law, Human Resource, Leadership, Accounting, Research and Statistics, Customers, Marketing, and Strategic Planning are just a few roles in which a functional of business is ran. There are many other areas that this paper did not include but the information within these areas have been presented. The roles of management threw each function has also been presented.
Works Cited
Goldman, M. (2000). Integrate environmental management into business functions. Chemical Engineering Progress, 96(3), 27. Retrieved from http://search.proquest.com/docview/221616766?accountid=458
Kyriazoglou, J. (2012). Business management controls a guide. Ely, Cambridgeshire, U.K.: IT Governance Pub.
Robbins, S. P., & Coulter, M. K. (2012). Management (11th ed.). Boston: Prentice Hall.
MGT/521
Traci Thurman-Bowen
Abstract
This paper will analyze the roles of a manger within the functional areas of business threw Law, Human Resource, Leadership, Accounting, Research and Statistics, Customers, Marketing, and Strategic Planning. In conclusion of this paper all areas of management will be analyzed and the role of how each area connects to one another.
Functional Areas of Business
Management
The role of management is important due to that their positions are held accountable threw company’s plans and goals. A mangers job is to manage their employees under them to make sure there plans and goals are being met. It is important for a manger to have their team responding and completing …show more content…
the tasks that they are given. When a goal is met and accomplished through a management’s team, the plan can move forward to continue its objectives. To have a successful company every employee must give there 100% commitment to their company to reach their values and goals.
Leadership
An important role within management is Leadership.
Having that leadership will factor the tone of the company you want working for you. Your tone can either make or break your company. Being the leader of your company, you are given the opportunity to influence the people or companies underneath yourself. Failing to be that positive influence can bring a negative impact not only for your company but within the team you are trying to build.
Marketing
Marketing is one of the most functional areas in any business. Every Co-Founder of any company had an image of how they wanted to present their company. With marketing an image of the company is presented. There are various types of ways a company can promote a product or sales within their store. A few ways to market in this era is Television Ads, Movies, Facebook, Twitter, Instagram, Billboards, Vehicles and so on. Promoting a new product or sales will draw the attention of loyal and even new consumers to your store. By placing your AD’s you are promoting your company to have a positive impact on that consumer. …show more content…
Customers
Without customers no company will ever become successful. Customers are like gold mines to the company. Positively influencing one customer will help spread the word of your company. Having the loyal customers, management should find a way to set programs in which those members can receive a better deal within your company. Kmart is a company in which any member who signs up for the Shop Your Way Program will receive discounts, coupons and on top of that will build points in which they can cash out the points and use those points towards their purchases. Any motivation to get a customer back in the store will help impact your company financially. Without any customers you will not have a company.
Law
Business law is important rules and regulations that a Manager must be in compliance with to run a company smoothly. Companies must comply with Federal, State, and international regulations in order to run a successful company. A manger should know there legal aspects of their business to help resolve any situations that might happen in there company. From any type of inspections to employee accidents each legal aspect should be read and understood to help there company from major losses of currency.
Accounting
In a company’s point of view there are two types of accounting. Managerial accounting is a type of accounting that managers review the audits of currency that the store is retrieving and spending. Within knowing there actual income in either making or losing money; Managers then decide if they have enough income for new projects or cut budgets due to company not making money. Financial accounting basically inputs and studies there financial statements. Managers usually hire accountants to handle that type of job.
Research and Statistics
As a manager you would like to know the important roles in which parts of your company is positively impacting and failing. Researching in having customer surveys is a very good way to know how your business is functioning. When the data is retrieved and put in perspective also known as statistics; a manager can focus on the poor areas to influence positive experience for future customers. The gathering of data a presenting it to your team can help you build a plan to change the outcome you are seeking within your company.
Human Resources
Human Resource (HR) is another type of management role that helps a business in various ways. Human Resources takes the roll threw hiring and training individuals for their establishment. Human Resources also helps the store manager with payroll, scheduling and even helping with disciplinary actions. Human Resources personnel is an important job function to any company that needs that type of assistance.
Strategic Planning
Strategic planning are plans that help organize goals within your company.
These plans are decided by management in a way to influence their expectations. These expectations can include how managers want their company to run, or how they want every employee to work together to create better outcomes for the company. These goals help the organization effectively. Goals are different in each position of management. If one part of management fails to implement their goals then most likely the goals of the other managers will fail as well. Working together as a team to help figure the importance of each plan will help impact the company in general. Strategic planning helps combine the functional areas of
business.
Conclusion
This paper has presented the many roles that a manger can impact a company and the functional areas of a business. These areas in Law, Human Resource, Leadership, Accounting, Research and Statistics, Customers, Marketing, and Strategic Planning are just a few roles in which a functional of business is ran. There are many other areas that this paper did not include but the information within these areas have been presented. The roles of management threw each function has also been presented.
Works Cited
Goldman, M. (2000). Integrate environmental management into business functions. Chemical Engineering Progress, 96(3), 27. Retrieved from http://search.proquest.com/docview/221616766?accountid=458
Kyriazoglou, J. (2012). Business management controls a guide. Ely, Cambridgeshire, U.K.: IT Governance Pub.
Robbins, S. P., & Coulter, M. K. (2012). Management (11th ed.). Boston: Prentice Hall.