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What are functional areas of business?

Functional areas of business are the categories you use to group professionals with similar skills to address common responsibilities. Identifying these areas allows for collaboration and effective division of labour. They also allow you to manage your teams more effectively, as you can identify common goals and delegate responsibilities.

What are the activities needed to operate a business?

The activities needed to operate a business can be divided into several functional areas: management, operations, marketing, accounting, and finance. Let’s briefly explore each of these areas. 1. Management The crucial role of managers in a business surrounding is to supervise and manage business activities.

Why should a business be divided into functional areas?

One of the reasons for separating business operations into functional areas is to allow each to operate within its area of expertise, thus building efficiency and effectiveness across the business as a whole. Functional areas in a business vary according to the nature of the market and the size of the business.

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