Business Operations Case Study

Key Functions of a Business's Operations

Business operations is a complex system of functions that must work harmoniously to succeed. Of course every business has a common goal(s), which is to make a profit. Businesses will generally operate with three primary functions in mind: To generate income for the business, to increase the value of the businesses assets and to make sure that income and profit for the business is continuously generated and maintained ("Primary Business Functions," 2013).

The first key function of business operations is financial record management. This includes key tasks as accounting, insurance and general record keeping. Managing a business’s records is extremely important whether it is a large corporation that

The physical location of the business will require certain permits or codes to occupy its presence. Nearly all businesses rely on some form of suppliers. If they are involved, so are contracts that need to be reviewed by legal management. A business no matter the size that produces and sells a product would want to patent it, to protect it against the competitors from reverse engineering and then creating a like or better product. Again, this is where the legal department would step in to ensure the proper paperwork has been completed.

The third key function of business operations is operations management. This is the day to day management that ensure the business is running efficiently and turns a profit. This function has several perspectives that make it fairly encompassing. These include: supply, efficiency, reliability, adaptability and quality control (Lacoma, n.d.). An operations manager would typical have employees in middle management positions that cover the for mentioned functions. A break or lack of effort in any of those sub-functions would cause a financial disaster

Every business is only as good as its best source. Arguably that source is its people. The office manager runs the day to day operations and different departments to ensure all administrative work is being run not only efficiently but effectively. One way to be effective which would naturally make the business efficient is to ensure the proper equipment and space that is needed is available.

The sixth function of business operations is production management. Production may very well be the life line of the company. After all, this function is what ultimately gets the product to the consumer. This function should be a continuous effort. Even if the process is efficient it should be reviewed and revised as necessary to ensure the smoothest process. This will keep cost down and products out in a timely fashion to the