Functional Areas of Business Essay

1174 Words Apr 15th, 2013 5 Pages
Functional Areas of Business
MGT/521
October 12, 2012

Functional Areas of Business
The pursuit of the MBA focuses on developing leaders in the area of business administration. Business leader development includes the study on functional areas of business and roles that managers take to be effective leaders using this information. This paper will focus on two functional areas of business and also explain the role of the manager in our areas.
Human Resources and Project Management
The first area of business to examine is that of human resources. It is the responsibility of human resources (HR) to attract employees, ensure the employees are trained adequately for their jobs, help employees retain their positions, motivate employees
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This change in the role of HR has been steadily increasing and recently “has intensified due to changes, among others, in increased competition and workforce demographics” (Payne, 2006). This makes the function of the HR manager an exciting area of business to consider when evaluating the planning and strategy of a company.
A second functional area of business to consider is Project Management. Project management can be described as the act of planning and organizing with a goal in mind to ensure the companies resources are most effectively put to use. These assets can range from the workforce, to financial holdings and physical assets such as data processing equipment or a manufacturing floor.
Managerial Roles
As with Human Resources, Project Management is a functional area of business that is currently evolving to meet the changing demands of the modern business. Whereas in the past Project Management could be described as taking a task from start to finish, in the modern workplace there is much more emphasis on ensuring a task is completed as efficiently as possible with little or no downtime between projects.
When looking at what a project manager’s role would be, it is easiest to look at practical examples. Some businesses have broken down their operations into sub-units or groups. Government contractors are very familiar with this practice. The term “Project” is a functional group gathering together to accomplish a