This post was originally published on On Deck
In simple terms, “operations” is the internal engine that powers your business.
If you are currently trying to extend your product line, open a brand in an up-and-coming neighborhood, resolve a purchasing inefficiency or improve customer loyalty, then you should look at your company’s operations.
In this article, we will explain the basics of operations and cover key differences in operations management for small businesses across different industries.
What Is Operations?
When we talk about “operations” in the context of a business, we are referring to the processes and inner workings that allow a company to run as efficiently as possible.
Whether you make products, sell products or provide services, every small business owner has to oversee the design and management of the behind-the-scenes work that makes up their company’s operations.
Well-run operations is a critical and often overlooked source of a business’s success. It can help streamline costs, allowing you to do more with less and maximize the impact of business funding such as a business line of credit or term loan.
At a small business, you may not want to dedicate a single person to an operations role. Rather, both employees and owners should understand how
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