Functional Areas of Business Essay

1094 Words Jun 30th, 2013 5 Pages
Functional Areas of Business

Management MGT/521

Functional Areas of Business

The functional areas of business are areas that allow the organization to operate, develop, and progress abiding by laws and regulations when implementing policies and procedures in the organization to all employees and management. There are 10 functional areas of business: Management, law, human resources management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. The two functional areas that will be covered are human resources management and strategic planning because these are the two related to the human resources manager and developing the organization into a
…show more content…
These strategies are used to gain knowledgeable employees who will benefit the organization.

Strategic Planning

Strategic planning in any organization is essential to being successful, changing, and growing in the future. “Strategic planning is a formal, administrative process that calls for an explicit procedure to determine specific, long-range objectives and generate alternative strategies, requires both strict implementation and a system to monitor results” (Song, Im, Bij, & Song, 2011, p 505, para 4). This can be determined by performing a SWOT analysis, which states an organization’s strengths, weaknesses, opportunities, and threats. The SWTO will help to determine what needs looked at, what needs improved, and how the organization will improve it. The strategic plan will improve these details and enhance the organization when implemented.

Developing a strategic plan involves several steps: developing a clear understanding of opportunities and challenges, assessment of the organization’s strengths and limitations, an inclusive approach, a planning committee, involvement, sharing responsibility, learning from the best practices, clear priorities and plan, patience, and a commitment to change (Mittenthal, 2002). These steps will need broken down and followed closely to develop a plan that will benefit the employees and management it is affecting. The organization will be able to implement

Related Documents