Business Operations Key Terms
Learn about some common business operationsBusiness operations are the day-to-day actions of a business and its employees. In order to have business operations that run smoothly, a business must have all of its priorities in order. All aspects of a business come into play in business operations including human resource issues, finances and interactions with the consumer. To be successful, business operations should work to produce reoccurring income and a tangible value for any investors in the business.
Chief financial officer (CFO)The chief financial officer (CFO) holds a similar position in the company as a CEO, but the CFO deals solely with the financial aspect of business operations, from budgeting to maintenance of accounting practices.
Chief executive officer (CEO)The chief executive officer is responsible for setting the direction of a company. The CEO helps to develop strategies and goals for a successful future. The CEO is also often the face of a company, promoting and defending the major decisions of any business.
Bridge financingBridge financing is a way that a company can get intermediate financing for the time in between major projects, or to generate cash flow before a business goes public.
Business licenseA business license is a document that authorizes a business to conduct operations. A business license can be issued by local or state government licensing offices.
U.S. Small Business Administration provides a list of resources where businesses can obtain licensing according to the state where it is located.
Back office operationsBack office operations are the areas of a business that help to support distribution and delivery of the products or services the business sells.
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