Functional skills are the core competencies that can be transferred to different work areas like understanding of finance is independent and a finance expert can comfortably adapt to a manufacturing or service industry. Functional skills are obtained by understanding the various processes and the principles applicable to a business function. Functional experts are in great demand as they are specialists and required to manage the business processes like human resources, operations, or finance.
Ah, mastery... what a profoundly satisfying feeling when one finally gets on top of a new set of skills... and then sees the light under the new door those skills can open, even as another door is closing.
Functional Expertise is knowledge of business processes and related concepts that explains the nature, causes, and effects of individual and integrated business activities. Functional Knowledge is the practical, tangible, and usable knowledge of a particular business function enabling the possessor capable of performing that activity. Functional skills can be adapted from one business area to another and these skills are generally transferable across multiple business domains.
By functional knowledge, we refer to the knowledge of business processes. The functional leader shows broad knowledge of and interest in business products, systems, and duties and/or shows competence in a specialized functional area.
In IT Implementations two types of knowledge experts are needed, one of the business experts who provide the knowledge about the current business process and their expectations of the future automated system. These expectations are converted into software code by technical experts who specialize in various technologies and understand computer terminology and language.
Functional Consultants are the experts having knowledge of concepts and business processes with an understanding of business flows with the added capability to analyze underlying software functionalities in comparison to business expectations.
Functional Consultants are generally process-specific like Finance, HR, Manufacturing, and Procure to Pay, etc. They have educational background and experience in the relevant business process area, for example, you will find a Chartered Accountant working as a General Ledger Functional Expert. They acquire ERP or “Other Software Product” knowledge by undergoing a short training on ERP Module they are working in. Functional knowledge of business processes and software makes a good Functional Consultant.
Some examples of functional knowledge and skill areas are:
A good Functional Consultant will have an in-depth understanding of the business processes, product features, and the ability to propose a solution for the business requirements.
Gaining functional knowledge for a technical expert can be challenging, but very rewarding as demand for professionals who have both technical expertise and a strong foundation of business process expertise is ever increasing in today’s globalized economies. In the present era of globalization and liberalization, to deliver consistently, technical experts are required to reorient their historical approach of concentration on the technology and code development, and convert their expertise to a professional; who is not only technically sound; but who can understand the language business speaks. Similarly, it is becoming important for a functional expert; to gain technical excellence by understanding technical capabilities, development standards; and controls; to recommend a good functional design for the business.
Functional knowledge is the knowledge that can be included in different domains. The knowledge that may be efficient in every domain is called domain-independent knowledge or functional knowledge, for example – financial processes (order to cash processes, procure to pay processes). All of these processes share some common logic and fundamentals that remain true and valid for all domains and different businesses. The best functional best practices can be easily leveraged across different business units, geographies, or products.
By its very nature, functional excellence comes from functional expertise, and the applicant is able to demonstrate confidence in a function to deliver on the company's goals and objectives. Functional excellence is the ability to demonstrate a depth of knowledge and skill in a functional area. It further means being aware of the following attributes:
Functional knowledge helps professionals understand how a company operates and what are the standard business processes. It talks about the best practices in particular areas. This understanding of the knowledge of business fundamentals helps executives to think strategically and then take appropriate business decisions. It adds to their ability to think and take timely and appropriate business decisions.
Many companies today want to assess their candidates on functional expertise. Most of the modern job-profiles demand more specialized skill sets and employees want to assess their potential candidates on functional skills and domain capabilities.
TechnoFunc has created function/process-based assessments to help organizations measure a wide variety of process expertise and help students take functional knowledge tests and gain certifications. This helps candidates to do a self-assessment for evaluating themselves for a particular domain or a functional process area. Recruiters can evaluate the expertise of job seekers with the expert-curated questions provided in these business process-based assessments. The questions are presented in the form of multiple-choice and multiple answers. These TechnoFunc Functional assessments can also be used in employee development to facilitate the up-skilling of employees. The test results provide clarity on the areas that need improvement, which helps to create personalized training programs for workforce development as per industry standards.
Our functional knowledge resources help you gain a fundamental understanding of different business processes which helps in the development of strategic skills. Clubbed with good leadership and managerial skills it helps business executives to drive efficiency and effectiveness meeting business objectives.
Explore our section on Functional Knowledge to learn fundamentals and standard business processes. Browse process-specific tutorials by clicking on the image for the business process area of your interest.
The function is, essentially purpose. When we use the word function we are saying that something has a purpose. So when we apply that term to training for the workplace we are talking about purposeful training.
Stress is an essential part of our life. No one can live without stress. Stress can be beneficial as well as harmful. Stress as a positive influence adds excitement and hope while as a negative influence it can result in destructive feelings, anger, and depression. Although the general orientation to stress is to consider unfavorable outcomes, yet one must have observed that stress experiences may also facilitate the development of effective and varied coping behavior, increased personal resources, and lead to a sense of competence in development. Stress at a moderate level is not only inevitable but may be useful for physical and mental well-being.
Authentic leadership is an approach to leadership that emphasizes building the leader's legitimacy through honest relationships with followers which value their input and are built on an ethical foundation. The authentic leader acts upon his or her values and beliefs, and inspires others to do the same, is committed to know and develop oneself. Are you committed to developing yourself; know your motivations and the purpose of your leadership? Read this article to know more about authentic leadership style and discovering your authentic self.
Tips for Effective Time Management
After studying and analyzing how time is spent, why time is wasted, and where time is wasted you need to decide about the changes required for effective utilization of time. For this purpose, a large number of remedial measures can be taken by you. The first and foremost determinant of a planned and purposeful utilization of time is to develop consciousness of the value of time at all levels of the organization. Planning, goal setting, and defining priorities are concerns to addressed immediately.
Improving Skills & Competencies
Whenever you are looking for a job or having your yearend discussion with your manager, two terms generally referred to be “Skills” and “competencies”. Today success in a career is an outcome of having essential competencies and building required skills. Skills could be a major distinguishing factor for you to move up on the career ladder and jump from one role to another. Leadership skills when combined with relevant domain and functional expertise can transform your entire career growth and help you have a fulfilling career.
In our present Hitech scenario, society is changing very fast. What are the skills that are most relevant for leaders in relation to the changing economic environment? Leaders need to develop skills to drive innovation and change in order to play a more central role in their organizations’ activities. How do managers accept the change and meet business expectations by becoming a key figure in driving change and innovation?
A manager or an employee in an organization who is experiencing a high level of stress may develop high blood pressure, ulcers, irritability, difficulty in making routine decisions, loss of appetite, accident proneness, and the like. These can be subsumed under three general categories, physiological, psychological, and behavioral symptoms. Stress can give rise to a number of changes.
How often do you have a plan for how you are going to spend your day but you aren't able to complete the tasks on your plan because of unimportant tasks, interruptions, or your own procrastination? Wouldn't it be great to be able to manage your schedule and your time while avoiding, or at least controlling, these time stealers? Learn the strategies to manage your schedule while still handling interruptions and demands on your time.
Evaluating Your Career Interests
Want to find out what you are best at when it comes to proactively building your career? What are your real interests? The first step in career planning is reflecting. Reflecting upon your own self, to be more self-aware, and then following your dreams with both your heart and mind. Here is an opportunity to begin exploring yourself. At the end of the process, you will have a far better understanding of your desires than you have currently.
Develop your Leadership Skills
There are a number of broad skill areas that are particularly important for leaders. Today's demanding global business landscape is defined by relentless change and rising business complexity, bringing new challenges. Leadership skills provide career-enhancing resources and support you to be exceptionally successful in your career. Leaders need to provide direction to their teams and need to be able to make good and timely decisions to define and support strategic direction for the enterprise.
In the early years, most jobs were skill-oriented, and with the development in lifestyles and technology, the current jobs are knowledge-oriented jobs such as management, accountants, design, or computing. Career paths encompass varied forms of career progression and this article discusses how we can build a fulfilling career? Learn here about career paths, industries, and opportunities for gaining experience in the field of your choosing.
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