Question

Choose a major area of business (Supply Chain, Manufacturing, Marketing, Accounting, Information Technology, etc.) to research. Discuss how the key aspects and result areas of management, and the key aspects and result areas of leadership, directly apply to your chosen area of business. Support your answer with Internet research and your personal experience.

Answer 1

Major Area of Business: Sales

Sales is a wide area of operation and define how much you will sell and how much profits you will make. The sales team is the front-runner and provide data of the market. They get market information and competition behavior. They impact the KRA’s of the management and Leadership in many ways as discussed below.

Key aspects and results areas of management which directly get impacted by sales include the following:

• Profit generation: The company target would be to achieve a gross profit of 7% the sales team has to continuously ensure selling at x price to maintain the profitability and set KRAs of the management.
• Maintain the bottom line of the organization: sales generate revenues and maintain the organizations bottom-line. The sales team has to increase sales to existing customers and acquire new customers to maintain the companies bottom-line.
• Maximize the shareholders returns: The sales growth and matching the organizations sales goals will maximize the shareholders profit.
• Create a business strategy: The organizations business strategy will be based on the sales forecast.

Key aspects and results areas of leadership which are directly impacted by sales include the above and the following:

• Net profits: The tracking of sales and profits. To ensure the customer base is increasing is critical to sustaining the company. Identifying the way the customers are spending and what they are spending on will be the data provided by the sales team. The data will help define your strategy and directly influence the net profits.
• Revenue and revenue growth: Benchmarking revenue and revenue growth is based on the sales forecast and projected sales provided by the sales team. It will directly affect the leadership goals and objectives.
• Customer relationship management: Tracking the way the sales team manages the customer relationship and ensures repeat buying is critical for the growth of the organization. The leader will identify delays in satisfying customers and take sales team feedback to maximize customers satisfaction and delighting them.

To conclude sales and management have to be closely connected to manage customers and ensure the profitability of the organizations. The sales are also first to share competition data and the market feedback.