Essay on Functional Areas of Business
July 22, 2013
Functional Areas of Business
A quality MBA program provides business leaders with the business acumen to succeed in all functional areas of business. These functional areas of business include management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic management (University of Phoenix, 2013). Two functional areas that involve leading people include leadership and human resource management.
Organizations with a strong leadership team are poised for success in the marketplace. This success is a result of maximizing the human capital potential and …show more content…
According to Michael Watkins (Watkins, 2012) managers who aspire to become leaders within an organization need to transform their management roles in seven critical areas. First, managers in leadership need to transition from a specialist to generalist role. This involves making decisions that are beneficial for the entire organization and evaluate the talent available to implement those decisions. Leaders accomplish this by learning the language and thought processes of all the departments and asking reflective questions directed toward front-line managers to uncover departmental needs. Second, managers focus on collecting information from departments and making trade-off decisions while explaining the rationale for how it benefits the entire organization. Third, managers shift from a tactician to strategist role by developing skills in shifting, pattern recognition, and mental stimulation. Level shifting involves focusing on lower level and big picture thinking and how they are interrelated. Pattern recognition is important for discerning casual relationships in