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Business operations are the core business processes of an organization that tend to be the focus of efforts to optimize efficiency and productivity the term operations varies by industry but is often interpreted to include information technology logistics manufacturing service delivery marketing operations sales operations and customer service.
Business operations key terms. Operations management om the business function that refers to the transformation process of converting raw materials into finished goods and services. External opportunities threats. Learn vocabulary terms and more with flashcards games and other study tools.
Everything that happens within a company to keep it running and earning money is referred to collectively as business operations. B2b a b2b business to business company is one that offers products or services directly to other businesses. Om used to be called production and operations management p om or just production.
Internal strengths weaknesses. A list of business operations terms. Learn vocabulary terms and more with flashcards games and other study tools.
Start studying operations management key terms. These strategic management key terms are eight in numbers and are the base of strategic management. According to generally accepted accounting principles the sum of the owner s shareholders equity and a business liabilities equals the total assets a business has.
Start studying business business operations key terms. What is business operations. 8 important strategic management key terms.
The activities can be optimized to generate sufficient revenues revenue revenue is the value of all sales of goods and services recognized by a company in a period. As the field evolved from being primarily tactical e g making inventory and scheduling decisions on the manufacturing floor to being strategic today there are many ceos from the om field the term moved to focus on the broad notion of operations.
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