The purpose of functional areas in a business is to ensure that important business activities are carried out effectively and efficiently. These functional areas are essential to a business if the business want to achieve its aims and objectives. Specific areas are responsible for supporting specific types, or aims, and objectives. For example, human resources and finance are some of the supporting areas. In this paper, a summary of the functional areas such as, human resources, and finance will be discussed. Also an explanation of the role of a manager in each functional area will be discussed.
Summary of two functional areas of business
The functional area of human resources involves staff hiring, training and arranging proper compensation for employees. Human resources also ensures that the organization retains good experienced staff, and also analyses staff turn over to remedy any problem areas. Human resources also ensure that employees receive continuous professional development and also discipline employees when necessary. Human resources also monitor working conditions, staff welfare policies, and ensure that the company pay rates are competitive and fair.Human resources ensure the company is complies with current laws and ensures the company stays up to date with legal changes. Human resources focus on valuing human capital and also supporting organizations change. Human resources are also the link betweenenvironment and corporate strategies and human resources policies in an organization, (Schuler & Jackson, 1987).
The functional area of finance in a business is considered to be the most important function in an organization; because a business requires regular flow of income to remain in business.The functional area of finance aims to improve profits and lowering costs by monitoring budgets, and current income from sales.
An Explanation of the role of manager in the two functional areas
According to Wright, a human resources...