Business Operations Key Terms

Learn about some common business operations

Business 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.

 

Bylaws

Bylaws are the rules and regulations a business creates to govern itself. Bylaws include specific regulations for the board of directors, shareholders and officers of a company.
Try: All Law provides an example of a set of bylaws for a 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.
Try: HR Village provides a list of the responsibilities of a CFO, plus the skills required to hold this position.

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.
Try: Stever Robbins provides a detailed job description of a CEO and ways to measure the success of a CEO.

Bridge financing

Bridge 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.
Try: Business Finance provides an explanation of bridge financing and which situations are appropriate for this type of financing.

Business license

A 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.
Try: The 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 operations

Back office operations are the areas of a business that help to support distribution and delivery of the products or services the business sells.
Try: All Business provides information on choosing the right back office operations solution for businesses that are considering outsourcing back office operations.

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