Function Areas of Business

Merav Nissim
      January 17, 2015
      Cedrina Charbonnet

      Function Areas of Business
      When deciding to pursue an MBA degree to further one's career. There will be different functional areas of business that one has to become familiar with. There are various organizational structures of business, which will be discussed in this paper. There are several functions of business that are fundamental to a business achieving its goals. This paper will focus on several areas of the function of business. This paper will focus on finance and accounting, human resources, production and operation, marketing and sales, and research and development. One will become an expert on the subject of the fundamental areas of business.
      Finance and Accounting
      Finance and accounting is an integral part of a business, and this fundamental is a very important part of business. Finance and accounting describes the actual management of a company and involves the various economic decisions made within companies. Finance in business is most relevant to projects and project management. Financial management consists of a wide variety of assets. Assets can be tangible, which includes facilities, equipment and offices. Assets in business can also be intangible, which consists of technical and expertise of management. Finance management refers to the actual management of a company. In business, there are financial managers and they are critical players in the financial management process, which helps them have a influence on the actual value of their company. There are three critical decisions that need to be made, here are some examples. Where the money will be sourced from to pay for real assets, which are financing decisions. The second decision is how the financing process should be managed, the decision of management in how to spend cash. Finally, the last question they should ask is, “How much the company should invest, this includes capital...