Functional Areas of Business
A business is composed of several functional areas. The main functional areas of business are as follows: management, law, human resources, leadership, accounting, finance, economics, research and statistics, operations, marketing, and finally, strategic planning. All of the areas are equally important because they make the organization whole. Each area is responsible for contributing their portion to making the organization successful. The human resources and finance departments will be discussed at length along with the managerial roles for each.
"Human Resource management addresses the concepts of personnel development in a business" (University of Phoenix, 2012). This includes recruiting, hiring, training, evaluating, compensating, and providing benefits for employees (Zain, 2013). It is also the human resources departments responsibility to assist executives with strategic planning and facilitate communication between managers and employees. Effective human resources management results in the accomplishment of an organizations goals via the use of its employees contributing productively and efficiently. Darlington (2011) states that an organizations most valuable asset is its employees, and it is the job of the manager to make sure that the company's policies and procedures that affect the wellbeing and drive of its employees remains the focal point.
Managerial Roles of Human Resources
"Managers use Human Resource management throughout the employee life cycle, including hiring, training, proper compensation for work, and taking disciplinary actions to remediate, if necessary" (University of Phoenix, 2012). A human resources manager is responsible for hiring competent qualified employees. Some of the tools used to accomplish this include: applications, interviews, collection of background information, and verification of background information (Zain, 2013). These tools are used...