Functional Areas of Business
Functional Areas of Business
MGT/521
February 27, 1014
Ronald Polk
Functional Areas of Business
In an organization, there are many functional areas of a business. These functional areas include management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. A manager’s role is never the same in these functional areas. Within the paper, the writer will analyze the role of a manager with the functional areas of business.
Management and Law
Managers have to ensure the business success; this is how management comes into play. Management has to use his or her human capital effectively, and efficiently to accomplish daily task within an organization. Human capital is also the organizational most important resource because employees can make a business successful. Managers need to ensure that a job is design properly, and when setting goals for employees are they reachable. Rewards are another part of how managers can get employees to complete his or her job in an efficient manner (Eveleth, D. M., Liesz, T. J., Pettit-O 'Malley, K. L., Rounds, M. S., & Xu, S., 2011).
In order for a business to function in today’s society, a manager has to ensure that the business is in compliance with the state, and federal laws. If a business operates in an international market, then the business also has international laws and regulations to follow. According to University of Phoenix MBA Overview Module (2014), “business law also helps managers safeguard the firm’s intellectual property and resolve situations when they arise” (para, Law).
Human Resource Management and Leadership
Human resource management in numerous organizations is the foundation of that business. One such role is ensuring that the right candidate acquires the job. Managers also use this to develop employee’s skills by training him or her properly, and ensure that employees wages are
MGT/521
February 27, 1014
Ronald Polk
Functional Areas of Business
In an organization, there are many functional areas of a business. These functional areas include management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. A manager’s role is never the same in these functional areas. Within the paper, the writer will analyze the role of a manager with the functional areas of business.
Management and Law
Managers have to ensure the business success; this is how management comes into play. Management has to use his or her human capital effectively, and efficiently to accomplish daily task within an organization. Human capital is also the organizational most important resource because employees can make a business successful. Managers need to ensure that a job is design properly, and when setting goals for employees are they reachable. Rewards are another part of how managers can get employees to complete his or her job in an efficient manner (Eveleth, D. M., Liesz, T. J., Pettit-O 'Malley, K. L., Rounds, M. S., & Xu, S., 2011).
In order for a business to function in today’s society, a manager has to ensure that the business is in compliance with the state, and federal laws. If a business operates in an international market, then the business also has international laws and regulations to follow. According to University of Phoenix MBA Overview Module (2014), “business law also helps managers safeguard the firm’s intellectual property and resolve situations when they arise” (para, Law).
Human Resource Management and Leadership
Human resource management in numerous organizations is the foundation of that business. One such role is ensuring that the right candidate acquires the job. Managers also use this to develop employee’s skills by training him or her properly, and ensure that employees wages are
References: Eveleth, D. M., Liesz, T. J., Pettit-O 'Malley, K. L., Rounds, M. S., & Xu, S. (2011). DuPont Model: Integrating the Traditional Business Functional Areas. International Research Journal Of Applied Finance, 2(7), 753-769. Business Dictionary. (2014). Retrieved on February 25, 2014 from http://www.businessdictionary.com/definition/marketing.html Dictionary. (2014). Retrieved on February 24, 2014 from http://www.dictionary.reference.com/browse/accounting?s=t University of Phoenix. (2014). MBA Overview Module. Retrieved on February 24, 2014 from University of Phoenix, MGT521 website.