If you are running a small business, you most probably know what business operation is and how it can affect your business. All the activities that we do day to day linked to the overall growth and performance of a business. Even a small like how we behave towards our employee involved in those business operational activities.
Everyday operational activities of any business involve:
Acquiring assets,including non-selling and selling assets
Sales and marketing;Both are related to each other as marketing practices will be one of the causes of selling.
Management; Not only management of the company but also the workflow of its manpower.
Accounting and administrative role; A vital part of the operation where growth and performance of the business will be measured.
However, operations widely differ based on the industry we choose and prioritize them accordingly. Here we are going to have an overview of some of the following business operational activities categorized based on their respective industries;
Table of Contents
Retail Industries
If you belong to the retail industry, some of the business operation processes involve a surplus amount of products and distributing them based on ROI (Return on Investment)
Follow-ups of market demand products and paying a low price in return for a higher price. Referring to and ROI with respect to business.
Service Industries
Private banks, Ola, Oyo, etc., are examples of service-based businesses. Their chief task is to provide services to the customers concerning their needs. Hence, operations like an attentive response to the customers, addressing their needs and demands, plays a significant role. Businesses of such kind need responsive and robust customer support and service team.
Technological Industries
Big giants like TCS, Wipro, Infosys, and many more exist in this category. They work on the aspect of giving technological services to the companies. Therefore, they have a strong team in their technical support. Investing more into hiring a potential candidate who belongs to the technology field must be their field of interest.
Manufacturing Industries
Small Businesses lies in this category provide manufacturing assistance to other companies. They produce a large number of products at one time, so the cost at which they invest should be minimum. However, the main operational activities include acquiring cheap raw materials and maintaining advanced equipment.
Conclusion
Most small businesses adopt basic operational activities to run their business efficiently. These critical functions of these business operations include goal setting, making plans, implementing accordingly, and management. There should be proper alignment and direction to these activities in order to harvest more profit. Otherwise, poor management leads to the loss and failure of a business. It is seen primarily in small and new companies being the new players of the market.
