The 5 Key functional areas of a Successful Business

Major Business Functional Areas

Here are some of the major business functional areas:

• Finance: The finance function is responsible for managing the company’s money. This includes tasks such as budgeting, accounting, and investing.
• Marketing: The marketing function is responsible for creating and communicating the value of the company’s products or services to potential customers. This includes tasks such as advertising, public relations, and sales.
• Operations: The operations function is responsible for producing and delivering the company’s products or services. This includes tasks such as manufacturing, logistics, and customer service.

• Human resources: The human resources function is responsible for attracting, developing, and retaining the company’s employees. This includes tasks such as recruiting, hiring, training, and compensation.
• Information technology: The information technology function is responsible for developing and maintaining the company’s computer systems. This includes tasks such as software development, hardware maintenance, and data security.

These are just a few of the major business functional areas. The specific functions that are important to a particular business will vary depending on the size, industry, and goals of the business.

How to Start?

Usually, when we want to do our own business or a start-up, we find ourselves in a dilemma situation like what to do and where to start. A very common question that strikes our mind is – “What are the Key functional areas or the domain areas of a Successful Business?“. Well, It is always recommended to start in your area of expertise which will reduce the risk of failing in your to-be venture.

Here are a few more major functional areas of a business or let’s say functional domain which you can go through and decide to start your new entrepreneurship in one of these areas.

• Banking & Finance
• Beauty & Fitness
• Bus & Rail
• Car Rental & Taxi Services
• Career Resources & Planning
• Computers & Electronics
• Game Development (Online/Desktop/Mobile App)
• Education (Physical & Online Classes)
• Enterprise level Software Development
• Health & Fitness
• Food & Drink

• Home & Garden
• Hotels & Accommodations
• Stocks & Shares Investment
• Life & Motor Insurance
• Loan & Mortgages
• Concierge & Relocation
• Network Security
• Politics management & planning
• Travel & Sports
• Tax Preparation & Planning
• Web Design & Development
• Search Engine Optimization & Marketing
• Marketplace e-commerce
• Affiliate Marketing
• IoT (Internet of things)

Have fun, enjoy your new venture and all the best!!

Further Readings

• Check out our other blog on Business and Drop Shipping business.

Feel free to share your thoughts on this topic in the comments section below 👇 We would be happy to hear and discuss the same 🙂