business operations assignment

Business Operations

Activities that businesses engage in on a daily basis to increase the value of the enterprise and earn a profit

What are Business Operations?

Business operations refer to activities that businesses engage in on a daily basis to increase the value of the enterprise and earn a profit. The activities can be optimized to generate sufficient revenues to cover expenses and earn a profit for the owners of the business. Employees help accomplish the business’ goals by performing certain functions such as marketing, accounting , manufacturing, etc.

Business operations evolve as the business grows, and the management should plan to accommodate the changes to prevent glitches occurring in the system. For example, as a small business grows, it must be ready to handle arising challenges such as legal, marketing, and capacity issues. If the business does not evolve with the changes in business operations, glitches such as errors and omissions will emerge.

Business Operations in Different Industries

The operations of a business vary across industries, and they are structured according to the requirements of the specific industries. Mastering the operations of a specific industry can help the business achieve success. Here is an analysis of business operations in different industries:

1. Retail industry

One of the main goals of a retail business is to stock products that customers are looking for and at a price that the customers are willing to pay. This means that the business must maintain an efficient inventory system so that it knows what is in stock at any given time, while reducing instances of dead stock. Deadstock refers to products that the company has in stock but that are not in high demand.

In order to maximize revenues, the business should stock fast-moving items that customers are willing and happy to pay for. The business should also negotiate friendly credit terms with suppliers so that they can get the required products on credit to prevent stock-outs.

2. Service industry

The business operations of a service business are divided into the front-end and back-end side of the business. The management must ensure that the two divisions are running efficiently to prevent laxity on one side, which can hinder the achievement of the company’s objectives. On the front end, the business should focus on streamlining the service delivery to customers to increase their satisfaction. It should also formulate a means of receiving feedback and complaints from customers to know their expectations and how to improve service delivery.

On the back end, the management should employ the right people in each department. For example, the company should appoint trained and experienced staff to prepare forecasts for client projects to prevent the actual costs from exceeding client budgets.

3. Manufacturing industry

Manufacturing companies are involved in turning raw materials into physical products, which are then sold to consumers. One of the things that a manufacturing company can do to achieve efficiency is to source quality raw materials from credible suppliers. For perishable and edible products, the business should look into how raw materials are stored, processed, and shipped to consumers.

The company can also eliminate bottlenecks that increase processing times to save time during manufacturing and shipping. If the company is struggling with shipping logistics, it can outsource shipping and concentrate on other areas of the business that it excels in.

4. Technology industry

The key to streamlining operations of a technology company is hiring the right staff and training them on how to execute the tasks they are assigned. This means that the company should put a hiring criterion in place that helps them hire the best candidates for the job. The company should also come up with an internal training and mentorship program where senior staff works hand-in-hand with junior staff to help them perfect their skills.

Another way of increasing efficiency is by collaborating the different tools such as apps, websites, and systems that the company uses. The company’s management should continually monitor internal and external processes to spot any glitches and address these issues quickly.

How to Improve Business Operations

The following are some suggestions that businesses can use to improve business operations:

1. Measure performance

A business should come up with realistic and actionable means of measuring its business milestones. The process of measuring performance starts from the goal-setting stage. The company’s management should set achievable objectives with clear targets. For example, the goal of achieving a 30% increase in revenues is more actionable than setting a goal to make more money in the next financial period. The company should then implement a measurement system that determines how well the business is doing against the goal targets.

2. Keep up with the latest trends

A business should stay up to date with what happens in the industry to get ideas on how to get better than the competition. Trends can take the form of new innovation, changing state and federal laws, or changes in the local economy. Knowing the latest trends and changes in operations can help the company find new systems that improve performance and cut costs, or that help the company stay compliant with new regulations.

3. Streamline processes

Another way of improving business operations is to evolve with changes in the industry to increase productivity. The management should continually be on the lookout for new tools, software,  and equipment that improve and ease critical processes.

For example, where the business uses manual methods to manage inventory, the management can acquire an inventory management software program that automates most of the processes and saves both time and costs.

Related Readings

Thank you for reading CFI’s guide on Business Operations. To keep learning and advancing your career, the following CFI resources will be helpful:

• Current Good Manufacturing Processes (CGMP)
• Operations Management
• Supply Chain
• See all management & strategy resources

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What Are Business Operations? How to Improve Them

February 8, 2023

Key components of business operations

Types of business operations, how to improve business operations.

• Business operations examples

Processes are the pillars of a business. 

But when it comes to daily business operations, there are several levels of systems that work together to generate revenue, both on a micro and macro level. These activities ensure that a business makes products that serve customer satisfaction, pay expenses, and maintain profits. 

Business leaders use technology like revenue operations and intelligence software to analyze the different touchpoints in a buyer’s journey. These insights determine the wins and losses in customer interaction, resulting in improved business operations that bring success. 

What are business operations?

Business operations comprise a range of daily tasks a business performs to remain profitable. While these tasks can vary according to the business type or industry, they typically include marketing, sales, finance, and manufacturing . By improving business operations, companies reduce costs and encourage innovation.

While operations in business might be influenced by external factors like the state of the market, there are several internal moving parts to consider. These systems determine a company’s competency in developing products and services. 

As a business grows, its operations also need adjustments. Practices like business process modeling and business process management (BPM) allow companies to accommodate all such modifications and ensure efficiency in daily processes. Failing to plan ahead and modify will result in operational inefficiencies that can bring catastrophic losses.

From managing employee communication to ensuring compliance with key company policies and variables, it’s hard to fit all the roles of business operations under a single umbrella.

These five components of business operations show how wide-ranging and essential effective processes are for a company. 

Assigning roles and responsibilities

A role in business operations is like playing point guard on a basketball court. Business operations specialists delegate and distribute roles and responsibilities to other members of their team. When hiring new employees , it becomes clear that each candidate has a different skill set. Business operations encompass selecting suitable candidates and ensuring their individual roles within the company best suit their strengths.

It's one thing to have a company with top-tier talent. However, it's another to ensure that this talent fits into roles that maximize their ability to excel. Business operations are the funnel through which roles and responsibilities are delegated to the right employees for the jobs. 

Handling internal communication

While the assignment of these roles and responsibilities may be specialized and distinct, business operations also include ensuring that specialization doesn't compromise any qualities of a company's ability to function as a unit. 

A pivotal aspect of any company's ability to function is how its employees communicate internally, from the c-suite to its sales team and interns. Business operations facilitate this communication and, in turn, build a community for a company's employees. 

Maintaining effective relationships with coworkers is essential to a business where many individuals function as a unit. From using internal communication software to email management solutions , business operations promote effective conversation within a company to produce a positive result.

Managing resources

In addition to delegating roles and responsibilities within a company, business operations are also concerned with smartly managing a company's resources. A business must maintain the proper equipment inventory to function successfully and efficiently.

Business operations are concerned with finding an appropriate balance of cost and technology to deliver the best performance. Performance, in this case, is both in producing a product and making money. A business can have great engineers, product managers, and salespeople but can only function well with a well-constructed business operations plan.

Roadmapping a plan

Business operations are the foundations through which a company executes all the necessary actions to operate successfully. Companies can only work successfully by roadmapping a business plan .

A business roadmap is an essential element that visualizes specific aspects of a business plan in a defined time frame. It enables companies to find the most practical use for their talent and supports successful workers in creating a successful business. 

Ensuring compliance

Business operations ensure that employees comply with a company's fundamental guidelines and values. When a business is in the thick of operating, and there are moving parts left and right, compliance with specific regulations, such as an expense reimbursement policy or upholding cultural values, can be hard to track.

By improving business operations, a company can implement such guidelines sustainably for employees.

For a company to run successfully, the different business operations must be planned and executed efficiently. These include:

• Production involves the creation of goods and services for customers.
• Finance  applies to managing the company’s resources, investments, and taxes.
• Administration  includes overseeing the day-to-day activities around the office.
• Sales & Marketing comprises the promotion and selling of products and services.
• Human resources  concerns managing the people in a business.
• Customer service ensures addressing the needs and queries of customers

Business strategies are not set in stone. So, making vital improvements to your daily operations is crucial to remain competitive in the industry.

Define and monitor performance metrics

Before making any efforts toward improving business processes , it's essential to identify where you currently stand. Leaders must define and analyze key performance indicators (KPIs) and benchmarks to assess business operations. These metrics will vary depending on each process and help identify improvement areas.

Improve existing processes

Once you know the problem areas in your business operations, you can focus on making the necessary changes. This includes improving existing processes by streamlining or automating workflows for increased productivity. You can also identify if there is a need to hire newer staff members with better skill sets.

Use business intelligence

When a business leverages its data correctly, it can result in enhanced business intelligence , improving daily operations. Companies focused on digital transformation use business intelligence software to visualize data and make informed decisions. This practice also delivers insights that support new processes across the board.

Follow industry trends

One of the most effective ways to stay competitive is to be adaptive to new trends. Trends can come in the form of technology, laws, buying patterns, or any combination of economic changes. Staying in tune with the latest industry trends will empower you to rise above the competition and cut costs with innovation.

$26.18 billion

is the projected global market value of business process management by 2028.

Source: Fortune Business Insights

Business operations examples 

Depending on the market, business operations can be unique to your audience's needs and vary from others. So, understanding your industry is the first step in achieving long-term success. 

Here are some common examples of business operations across different industries:

Business operations in the technology industry comprise the development, maintenance, and management of IT infrastructure and systems. Businesses must hire and train the right people to execute these tasks and perfect their skill sets. It also involves using different task management software to monitor and fix issues immediately in case of deviations. 

Manufacturing

Manufacturing is all about converting raw materials into finished goods. One of the most essential things for manufacturing companies is to source their raw materials from credible sources. The business should also look into how these materials are stored, processed, and shipped. 

The retail industry focuses on maintaining the inventory of goods for customers at a price they are willing to pay. Preserving an efficient inventory allows businesses to avoid dead stock instances and maximize revenue. Negotiating with suppliers is also essential for retail companies to buy items on credit and always have fast-moving products in stock. 

Aim for progress, not perfection.

Every business practices a set of daily tasks that are vital for survival, growth, and overall success. Being relentless about learning, growing, and improving these processes will set you apart.

As roles become increasingly specialized within a company, there needs to be a strong backbone of company values and management of business activities that remains constant. Because when aiming for progress, the smallest adjustments can create the biggest difference.

Wondering how to optimize your production and manufacturing operations? Read this guide on operations management to create a unique strategy that benefits your target customers.

This article was originally published in 2019. The content has been updated with new information.

Rob is a former content associate at G2. Originally from New Jersey, he previously worked at an NYC-based business travel startup. (he/him/his)

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Business Operations: What They Are (and How To Improve Them)

Updated: July 22, 2024

Published: October 06, 2023

The success of your business relies on the processes you put into place. Ignore this for too long, and you’ll run into issues with properly training workers and quality assurance. 

When workers lack proper procedures to follow and tools to implement them, it trickles down to your bottom line. It hurts the customer experience and profitability. Plus, it makes working in your company less desirable (hello, high turnover rates). 

How do you prevent this from happening in your company?

The answer lies in building business operations at every level so your company is efficient, scalable, and effective.

Table of contents:

What are business operations?

• Importance of business operations

Types of business operations

How to improve business operations, business operations examples.

Business operations refer to all the activities and procedures a company undertakes to create and deliver its products or services. This includes all the routine tasks and functions essential for the efficient running of a business, such as managing the supply chain, production, customer service, and administrative duties.

Importance of business operations 

Maintaining fluid business operations is vital to achieving the company’s goals. Here’s a look at some of the ways they improve your business and help it succeed:

• Efficiency: Effective business operations ensure that tasks and processes are carried out efficiently, minimizing waste of time, resources, and effort. This leads to cost savings and increased productivity.
• Customer satisfaction: Smooth business operations enable businesses to provide timely and high-quality products or services to customers. This enhances customer satisfaction, loyalty, and retention.
• Cost control: Well-managed operations help identify and eliminate unnecessary expenses, reduce overhead costs, and optimize resource allocation. This leads to improved profitability and financial stability.
• Competitive advantage: Streamlined operations give businesses a competitive edge by enabling them to deliver products or services faster, at a lower cost, or with better quality than their competitors. This helps attract and retain customers in a crowded market.
• Scalability and growth: Efficient operations lay the foundation for business scalability and growth. By optimizing processes, businesses can handle increased demand, expand into new markets, and seize growth opportunities.
• Risk management: Effective operational processes include risk management strategies to identify and mitigate potential risks and uncertainties. This helps businesses minimize disruptions and maintain continuity in the face of challenges.
• Employee engagement and satisfaction: Well-organized operations create an environment conducive to work by establishing clear processes, roles, and responsibilities. Employees understand their tasks and expectations, reducing confusion and increasing efficiency.
• Compliance and legal requirements: Sound business operations ensure compliance with legal and regulatory requirements, reducing the risk of penalties, lawsuits, and reputational damage.

The business you run will determine the type of operations you implement. Below are listed some of the typical operations you’ll find in many companies. 

Production operations

Production operations involve the creation and delivery of products or services. By optimizing production processes, businesses can reduce waste, improve quality, and enhance overall efficiency.

For instance, a manufacturing company may implement lean manufacturing techniques to streamline its production line, reducing lead times and improving customer satisfaction.

Here are some tips for improving production operations:

• Conduct a thorough analysis of your production processes to identify bottlenecks and areas for improvement.
• Implement lean manufacturing principles to eliminate waste and streamline workflows.
• Embrace automation and technology solutions to increase productivity and reduce human error.
• Regularly monitor key performance indicators (KPIs) such as production cycle time and defect rate to track progress and identify areas for further optimization.

Marketing and sales operations

Marketing and sales operations are responsible for attracting customers, generating leads, and closing deals. Aligning these operations is crucial for driving revenue growth.

For instance, you can connect the data gathered from sales for marketing teams to use to attract customers better.

Consider the following strategies to improve marketing and sales operations:

• Develop a comprehensive marketing plan that aligns with your target audience and business goals.
• Leverage customer relationship management (CRM) systems to track leads, manage customer interactions, and improve sales forecasting.
• Use data analytics to gain insights into customer behavior and preferences, enabling targeted marketing campaigns.
• Foster collaboration and communication between marketing and sales teams to ensure a seamless customer journey.

Financial operations

Financial operations involve managing the financial aspects of your business, including budgeting, accounting, and financial reporting. Streamlining financial operations is crucial for maintaining economic stability and making informed business decisions.

For instance, a company may implement automated accounting software to streamline its financial operations, reducing the time and effort required for manual bookkeeping.

Here are some tips for optimizing your financial operations:

• Implement cloud-based accounting software to automate bookkeeping processes and improve accuracy.
• Develop a robust budgeting and forecasting system to track expenses and revenue projections.
• Regularly review financial statements and key financial ratios to identify areas for cost reduction or revenue enhancement.
• Establish strong internal controls to prevent fraud and ensure compliance with financial regulations.

Human resources operations

Human resources operations include managing employees, such as recruitment, training, and performance management. Improving human resources operations can lead to higher employee satisfaction and productivity. 

For instance, a company may implement an online employee management system to streamline its human resources operations, making it easier to track employee performance, provide training opportunities, and enhance communication between HR and employees.

Consider the following strategies to improve your HR operations:

• Streamline the recruitment and onboarding process to attract top talent and reduce time-to-hire.
• Provide ongoing training and development opportunities to enhance employee skills and knowledge.
• Implement performance management systems to set clear goals, provide regular feedback, and recognize employee achievements.
• Foster a positive company culture that promotes collaboration, communication, and work-life balance.

Supply chain operations

Supply chain operations involve the management of the flow of goods and services, from sourcing raw materials to delivering the final product to customers. Optimizing supply chain operations can lead to improved efficiency and customer satisfaction.

For instance, a company may implement a real-time inventory tracking system to streamline its supply chain operations, allowing it to accurately monitor stock levels, reduce stockouts, and improve order fulfillment speed.

Consider the following tips:

• Develop strong relationships with suppliers to ensure timely delivery and quality control.
• Implement inventory management systems to optimize inventory levels and reduce carrying costs.
• Use data analytics to forecast demand and improve supply chain planning.
• Embrace sustainable practices in the supply chain to reduce environmental impact and enhance brand reputation.

Implementing the necessary operations into your business is only the first step. Now you must keep your business operations efficient and effective. Sometimes, this requires making changes and updates to keep your processes moving smoothly without affecting profit margins. 

Here are several steps you can take to improve your business operations. 

Conduct a business operations audit

A business operations audit is a thorough assessment of your current processes, systems, and resources. It identifies areas of improvement and highlights potential bottlenecks or inefficiencies in your operations.

For example, a retail store may conduct a business operations audit to evaluate its inventory management, point-of-sale systems, and customer service processes.

Tips to implement the step properly:

• Define the scope of the audit: Determine which areas of your operations you want to assess, such as supply chain management, production processes, or customer support.
• Gather data and information: Collect relevant data, including financial records, customer feedback, and employee input, to gain a comprehensive understanding of your operations.
• Analyze and identify areas for improvement: Evaluate the collected data to identify specific areas where operational efficiency can be enhanced or bottlenecks can be eliminated.
• Develop an action plan: Based on the audit findings, create a detailed plan outlining the necessary changes, timelines, and responsible individuals or teams.

Streamline processes and workflows

Streamlining processes and workflows involves identifying and eliminating inefficiencies in your business operations. By optimizing how tasks and information flow within your organization, you can improve performance, reduce costs, and enhance overall productivity.

For example, a manufacturing company may streamline its production process to reduce lead times and increase output. By analyzing the current workflow, it identifies bottlenecks and unnecessary steps slowing down production. 

Tips for identifying and eliminating inefficiencies in processes:

• Map out your processes: Visualize how tasks and information flow within your organization to identify potential bottlenecks or unnecessary steps.
• Involve employees: Seek input from your employees who are directly involved in the processes. They often have valuable insights and suggestions for improvement.
• Standardize procedures: Establish clear guidelines and standard operating procedures (SOPs) to ensure consistency and efficiency in executing tasks.
• Leverage automation and technology: Implement software or tools that automate repetitive tasks, streamline communication, and improve collaboration, such as customer relationship management software (CRM), inventory management systems, and project management tools.

Track performance metrics and key performance indicators (KPIs)

Performance metrics and KPIs provide quantifiable measures of the success of your business operations. They help you evaluate performance, identify areas for improvement, and make data-driven decisions.

Examples of relevant metrics and KPIs for different business operations include revenue growth, conversion rate, average order value, average response time, customer satisfaction score (CSAT), first-call resolution rate, defect rate, and production cycle time. 

Tips for setting and tracking performance goals using metrics and KPIs:

• Align metrics with business objectives: Choose metrics directly contributing to your overall goals.
• Set specific and measurable targets: Clearly define what success looks like and set achievable targets.
• Regularly review and analyze data: Monitor performance metrics regularly to identify trends, patterns, and areas for improvement.
• Communicate results and provide feedback: Share performance data with employees, recognize achievements, and provide constructive feedback to drive continuous improvement.

There’s no one way to build your business operations. There are various methods, technologies, and strategies you can use to enhance your processes.

Here are several examples of how companies across industries can design and improve its operations:

• Production operations: A manufacturing company implementing a just-in-time inventory system to reduce inventory holding costs and improve overall production efficiency.
• Marketing and sales operations: A software company implements a lead scoring system, enabling the sales team to prioritize leads based on their likelihood to convert, increasing conversion rates.
• Financial operations: A retail store implemented an inventory management system that integrates with its accounting software, enabling real-time tracking of inventory costs and reducing discrepancies.
• HR operations: A hospitality company implements a comprehensive employee training and development program, resulting in increased employee skills, improved customer service, and reduced turnover rates.
• Supply chain operations: A clothing manufacturer implements a just-in-time inventory system, allowing them to receive raw materials and produce garments based on customer demand, resulting in reduced inventory holding costs, improved production efficiency, and faster order fulfillment.

How you decide to build and innovate your business processes is entirely up to you. However, the reasons behind your methods should remain the same: to improve efficiency, employee engagement, and customer satisfaction. Get these right, and your operations will help your business thrive.

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Business Operations

Last Updated :

21 Aug, 2024

Blog Author :

Edited by :

Reviewed by :

Dheeraj Vaidya

Table Of Contents

What Is Business Operations?

Business operations can be defined as daily activities or deliverable business to sustain themselves, enhance the enterprise's value, and derive income from it. The employees perform these operations.

Sustainability depends on the type of employees hired by the organization and the kind of technology utilized to deliver business results. The business operations focus on the day-to-day activities performed in the business. Such activities help the business to earn profit or revenues or cover the cost of operations.

Table of contents

How to improve, limitations, recommended articles.

• Business operations are daily activities or deliverable businesses to survive, improve the enterprise's value, and obtain income. The employees handle the business operations.
• The various business industries are retail, service, manufacturing, and technology. The business operations ensure that all resources and assets are fully used to get the business results and objectives. Moreover, they must coordinate well among departments, namely accounting, finance, marketing, and sales.
• The elements of the business operations are process, location, technology, business machinery & equipment, and staffing. Moreover, the business activities help the business to gain profit or revenues or make up the operations expenses.

Business Operations Explained

A business operations plan refers to the process or carrying out an entity's daily procedures through proper coordination between different departments to manufacture, market the goods and services, and earn revenue and profit.

Different parts of the business perform different operations which help it to run smoothly and achieve its aim. The employees, management, directors, laborers, etc all are an integral part of managing business operations .

The goods and services offered may be tangible or intangible, but every business tries their best to reach out to the maximum market possible to cater to the needs of consumers.

The various types of business operations plan are given below:

#1 - Production

This is the main aim of setting up of an organization. Every organization produces some type of goods or services for the benefit of the community by selling which, they can earn revenue and cover the cost.

#2 - Marketing

Marketing is an integral part of the business because it helps in earning revenue and expandand grow. Marketing helps in informing the consumers about the products and services manufactured in the business so as to earn revenue and profit.

#3 – Finance

This is the part of the business that helps in managing the financial resources, and channelizing them towards optimum use. This operation helps the entity to use the money earned by properly investing in useful areas that will earn return that can be further invested from expansion.

#4 - Human resource

This operation refers to the employees, management, laborers, etc, whoever help in running the day to day operations smoothly by contributing their time and effort.

Let us look at the different business operations functions.

• The primary function is to help a business earn income, as sustainable operations could only achieve this.
• The business has to ensure that all resources and assets are utilized to their fullest to drive the business results and objectives. Wastage of resource is a loss for the business.
• They have to ensure that there is an establishment of good coordination among different departments, namely accounting, finance, marketing, and sales.
• True and correct strategy will help in aligning the mission with the procedure so as to achieve the aim with least cost and maximum revenue.

Some examples of business operations functions are given below:

The Service industry would have different sets of business operations compared with the manufacturing and retail industry. The Merchandising industry has a model that believes in selling merchandise inventory quickly. Therefore, these types purely depend on the industry level it works.

The business varies with different industries and can be classified as follows: –

#1 - Retail Industry

The retail industry deals with products that could be immediately sold to customers at a price that matches their paying capacity. The business operating in such inventory needs to have a robust inventory management system. The system should be so robust that the business should differentiate between a finished product or a product in low demand with high demand.

#2 - Service Industry

The service industry can be bifurcated based on the nature of business operations. They can be classified as back-end and front-end. The front-end business works with the customers and tries to meet their expectations. To meet customer expectations, they have to develop mechanisms that record the feedback given by the customer that allows them to prioritize their requirements and deliver optimized business outcomes.

The backend business operations strategy should work towards supporting the front-end part of the business. They should help the front-end people with forecasts and projections that prevent the business from exceeding their budgeted or expected costs.

#3 - Manufacturing Industry

Manufacturing businesses focus on transforming raw materials into marketable finished products. To produce quality finished goods, they have to access quality raw materials from the suppliers. Additionally, they have to focus on eliminating any potential bottlenecks that may arise in the manufacturing of products and then shipping them to the correct business outlet or warehouse.

#4 - Technology Industry

To have a high-impact business, the technology business operating in the industry has to hire the right skill set required to execute the job function or project it has in hand. To meet the business requirement, such hires may be trained first on utilizing tools and skillset to accomplish the job at hand.

Managing business operations tend to be different and distinct as per the business types, size, and industry. Online stores or E-store operations are different from brick and mortar stores. Therefore, it is necessary to chalk out the broad elements.

The elements are primarily composed of the following elements: –

#1 - Process

The process is termed as the backbone of the business operations. It has a lasting impact on efficiency and productivity. The processes can be performed both on a manual basis and with the application of automated software. The activities that form the part of the process should be documented carefully and should be named as the standard operating procedure.

Such standard operating procedures could then allow quality managers to go through such documents and, in time, drive continuous improvements.

#2 - Location

For running a business smoothly, it is critical to shortlist a favorable business location. If the business is large corporate, it should easily be accessible to its employees. If the business is small and led by a solo entrepreneur, he can work from remote locations to drive value generation.

#3 - Technology

A business operations strategy cannot sustain itself if it does not adopt the latest technology. Fruitful leverage of technology in the business drives operational excellence and sustainability.

#4 - Business Machinery and Equipment

This aspect focuses on the hardware utilized by the business to run its business operations. The business should invest in the right machinery and equipment to sustain its operations.

#5 - Staffing

Any business to meet its organizational needs and business targets must possess the right talent in place. The right talent should have the desired skill set and domain expertise to drive operational excellence, thereby ensuring the sustainability of the business operations. The staffing needs of the organization vary with size and process needs.

A small process or organization may have limited staffing needs and a closed group of employees. A larger organization may have unlimited staffing needs to meet its business objectives.

• Measurement of Key Performance Indicators or Performance: - The business should establish the right metrics and measures that help measure the milestones that are to be achieved by the business. It should establish the right goals and targets that could be met easily.
• Analyze and Understand the Trends Dominating the Industry and Markets: - To stay competitive in the industry, a business has to stay updated with the trends in the industry. The business should have the ability to learn from the trending topics and innovate from them to deliver projects that exceed the expectations of their customers or clients.
• Streamlining the Deliverables and Projects in Pipeline or Process: - The business should eliminate redundant and non-value-add activities and attempt to streamline the process so that the business achieves the right business outcomes.
• It helps in streamlining of operation process in a smooth and structured way which will help to achieve the ultimate objective. .
• It leads to effective utilization of assets and resources of the business. If resources are not used properly, then it leads to wastage and loss for the entity. The assets do not grow and the business easily loses its place in the highly competitive market.
• It offers the opportunity to replicate innovations achieved in one process to be replicated in the process with similar objectives. This is very important because each department in a business is interlinked. Innovation in one department and not in the others will not help the business to grow or expand. If growth is the aim them the management should concentrate on all parts equally and bring innovation or implement new technology in all areas.
• It helps in identifying lagging areas and make plan to either revamp them or eliminate them. These are the areas that are perhaps not generating enough revenue  or dragging the company towards losses. A good business operation will identify these areas.
• Creation of   departments within a business which might be unnecessary or lead to resource wastage.
• There might be lack of coordination among team members. This may create a hindrance in the smooth performance of business operation.
• At times, the balance between the execution and business strategy may not be aligned with one another. This may lead to disastrous consequences since the company is not actually working towards achieving the purpose but working in a mismanaged way due to which the directors and management is not clear about the correct path or using incorrect strategy, leading to effort wastage.

Frequently Asked Questions (FAQs)

The business operations Manager inspects accounting with bank processes, handles funds, supervises financial data, and provides approaches to enhance profitability. In addition, they create strategies and policies for company growth, implementing plans and procedures for stock losses and theft.

The Operations Executive's role is communicating with upper management to create strategic operations objectives, make long-range plans to obtain strategic goals, and design and control the organization's fiscal operating and capital budget and expenses.

Technology plays a critical role in contemporary business operations. It can automate processes, improve efficiency, enhance communication, enable data-driven decision-making, and open new growth opportunities.

This business operations Director's responsibilities include conducting negotiations, making budgets, purchasing, and applying effective workflows to increase a company's output and performance. In addition, a operations Director must build long-term operational plans, working with senior management closely to satisfy company goals.

This has been a guide to what is Business Operations. We explain it with examples, types, functions, elements, how to improve, benefits and limitations. You may learn more about financing from the following articles –

• Time vs Money
• Operational Risks
• Factory Overhead
• Statement of Operations

Understanding Business Operations & How to Improve Them

Hiring candidates, developing products, and providing customer support are just a few of the operations that keep a business running. 

To run and grow a business, these operations must work as efficiently as possible. Operations management can help by supporting these various operational areas with the processes, data, technology, and personnel they need to achieve their goals and advance the company’s overall business strategy.

This guide will cover what business operations are in more depth and how to improve them. It will also explain what a business operations manager and strategy are and why they’re important to achieving a company’s short- and long-term objectives.

What is business operations?

Business operations refers to the day-to-day tasks that a business performs in order to run and ultimately make a profit. More specifically, business operations are the core activities that transform inputs like raw materials, labor, and capital into outputs like products and services. 

While these vary for different industries and businesses, business operations typically include marketing, sales, and service. For certain companies, they might also include product, manufacturing, and order management. 

Take a restaurant, for example. Their business operations might include:

• Inventory management
• Order management
• Food preparation

To learn more about what business operations are, check out this video by Operations Management Consultant Laurence Gartside: 

What is business operations management?

There is typically a dedicated team in charge of optimizing the day-to-day tasks and carrying out high-priority initiatives across all the operational areas of a company. This team is the business operations management team. 

It is responsible for resource coordination and management, capacity planning, forecasting, and more. This team reports to the chief operating officer, who is responsible for managing the daily business operations of the company as a whole. 

Here’s an example of an organizational chart for a manufacturing company that includes an operations department. 

We’ll talk about the individuals that make up a business operations team in more depth later. For now, let’s take a closer look at the different elements that make up business operations. 

Elements of Business Operations

While they vary widely, business operations for any company or industry are related to four major elements. Business operations teams are responsible for managing and improving these elements, as outlined below.

1. Processes

Processes are essential for business operations. They outline how a company does things from start to finish, like developing a product or submitting an expense sheet. By ensuring that employees are completing tasks in the most efficient and error-free way possible, processes can boost productivity and profitability when done right. 

2. Personnel

A company’s workforce also has a major impact on its productivity and profitability. So another key pillar of business operations is calculating how many employees are needed and in what job functions, deciding whether employees should be hired full-time, part-time, or on an “as needed” basis, and ensuring employees have clearly assigned roles and responsibilities that align with their skill sets. 

3. Technology

Technology or equipment is another key element of business operations. Understanding what technology is needed to help employees achieve their day-to-day tasks is essential to running and growing a company and estimating costs. Another operational decision is whether you should build that technology internally or buy it. 

4. Location

Location is the final important element of business operations. Some businesses may require a location in a city or one with parking. Others may be able to operate entirely remotely. The optimal location will vary according to industry, company size, and other factors. When picking a location, consider factors like square footage, layout, traffic flow, parking, and storage. Also, consider what location would enable you to reach a wide enough pool of customers and be accessible to employees (even if that’s just yourself) as well as vendors. 

Now that we have a better understanding of what business operations is let’s take a look at more examples of business operations below.

What are business operations examples?

Below we’ll look at examples of common business operations across a variety of industries and companies. 

Product Operations

Product operations is designed to ensure the product team works as efficiently as possible by providing them with business processes, best practices, budgeting, reporting, and infrastructure. It also helps improve alignment, communications, and processes among the product, engineering, and customer success teams of a company to ensure products are successfully created and launched to market.

Daily tasks might include:

• Performing market research, including user interviews
• Analyzing and reporting data to product management teams
• Creating and optimizing processes to streamline product development
• Managing and sourcing new tools for the product team
• Working cross-functionally with engineering, sales, and customer service
• Overseeing the testing process for new features

Human Resources Operations

One of the most common business operations for companies in a range of industries is human resources. HR operations is responsible for optimizing all stages of the employee lifecycle, including recruitment, onboarding, performance management, and offboarding.

• Outlining HR compliance policies
• Creating and maintaining onboarding materials
• Planning headcount for the recruitment team now and as the company scales
• Launching initiatives to improve employee relations

Sales Operations

Sales operations consist of all the processes and initiatives designed to reduce friction in the sales process so the sales team is more productive and successful. Lead management, territory structuring and alignment, compensation plans, and sales automation can all help salespeople work more efficiently.

• Creating and optimizing the sales strategy
• Gathering external market and competitor research
• Reporting internal sales performance data
• Scheduling appointment bookings with leads and contacts for sales reps
• Defining and assigning sales territories

Marketing Operations

Marketing operations are also common in any type of business. This operational area is made up of all the personnel, processes, and technology that allow marketers to function efficiently. 

• Developing and documenting workflows
• Gathering customer, market, and competitive intelligence research
• Managing all the ​​marketing automation platforms the team uses
• Creating a review and approval process of marketing materials to ensure compliance

Financial Operations

Financial operations is a business operation that consists of overseeing all workflows and processes related to a company’s finances and financial decision-making. This includes the accounts receivable and accounts payable processes and data collection.

• Creating financial reports
• Overseeing financial transactions
• Developing investment strategies
• Ensuring daily operations comply with the law and standard practices

Supply Chain Management Operations

A common business operation of manufacturing and retail companies is supply chain management. This involves optimizing and managing the processes, personnel, technology, and locations used for sourcing, producing, and delivering products or services to customers.

• Evaluating suppliers
• Negotiating contracts with vendors
• Forecasting demand to maintain a lean inventory

How to Improve Business Operations

• Define and measure key performance metrics.
• Identify inhibitors to growth. 
• Create new processes.
• Analyze and improve existing processes. 
• Stay informed about industry trends.

1. Define and measure key metrics.

Before you can launch improvement efforts, you need to define and measure key performance metrics and benchmarks. This will enable you to better assess your operations and understand where to target your improvement efforts. 

These metrics should be tailored to different business operations. For example, for service, KPIs may include:

• Net promoter score
• Customer churn rate 
• Number of support tickets
• Wait time for callers

KPIs for supply chain management, on the other hand, might include:

• Inventory turnover
• Customer order cycle time
• On-time delivery

2. Identify inhibitors to growth. 

Defining, tracking, and analyzing KPIs will begin to reveal operational inefficiencies or issues that are impeding profit or growth.

For example, if the supply chain management team consistently underperforms in terms of customer order cycle time, then you may need to evaluate the current processes, personnel, equipment, and location of that team. It’s possible that no one currently predicts and manages the demand for the company’s products so products are constantly on backorder. Or maybe someone is manually determining and scheduling the resources needed to fulfill and deliver orders instead of using a tool to simplify or automate those tasks. 

3. Analyze and improve existing processes. 

Once the company’s operational performance has been mapped to some inhibitors to growth, you can begin to improve existing processes across the organization.

For example, you may find that the HR department uses several tools to store, manage, and track requests, which is resulting in delays, duplication, and other issues. To improve these processes, you may implement new technology for storing, managing, and tracking all HR requests in one place.

4. Create new processes.

In addition to improving existing processes, an operations team may need to create totally new processes. 

For example, say the satisfaction of employees who have been at the company for less than three months is much lower than employees who have been there for at least a year. One explanation may be a lack of a solid onboarding process. You can therefore create a process made up of activities like an introductory phone call, follow-up email, and virtual training in order to set expectations for new employees as well as existing team members who should be involved (like managers).

5. Stay informed about industry trends. 

In addition to looking at your performance data, staying informed about industry trends can help you optimize or create new processes. For example, new technology, regulations or taxes may prompt changes in processes that help you outperform your competitors, cut costs, or stay compliant with changing state and federal laws.

While all employees can help improve business operations in these ways, there may be one individual who leads these optimization efforts. Let’s take a closer look at this individual’s roles and responsibilities below. 

Business Operations Manager

A business operations manager is responsible for designing, improving, executing, and leading the operations of a company to drive its growth. To achieve this, they must be able to collaborate cross-functionally across teams, manage various projects from product launches to board meetings, and track and report on KPIs, OKRs, and other key metrics. 

This only covers a portion of the breadth of work that business operations managers do. They may also be responsible for hiring people, restructuring teams, negotiating contracts, addressing budget matters, and creating company-wide policies for operating most efficiently as well. 

When looking on job posting sites, you may see titles like Operations Supervisor, Solutions Consultant, and Operations Research Analyst. These titles have similar job responsibilities to the ones listed above — the naming convention just varies by company and industry. You may also see titles like Chief Engineer or Production Line Supervisor, which have some operational responsibilities in addition to others. It’s common for companies to combine operational responsibilities into other roles like this. 

To get a better understanding of this role, check out part of this job description for a Business Operations Manager role at RapidSOS that is posted on LinkedIn :

In short, a business operations manager is responsible for helping to plan, execute, and adapt a company’s overall business operations strategy. Before we discuss this type of strategy, let’s take a quick look at how much a business operations manager can expect to make annually. 

Business Operations Manager Salary

Business operations managers made a median salary of $103,650 in 2020, according to data from U.S. News & World Report .

Glassdoor estimates the median salary is a bit lower at $82,073 per year based on salaries collected from its users , with the most likely range from $58,000 to $128,000. Where a business operations manager falls in the estimated pay range will depend on location, years of experience, and other factors.

To truly understand the role of a business operations manager, you must understand what a business operations strategy is. Let’s take a look at this term below, then check out the different types of operations strategy and some examples. 

Business Operations Strategy

Business operations strategy is a decision-making framework for planning, executing, and analyzing a company’s operations in order to achieve its core objectives. A comprehensive operations strategy can help a company boost productivity, increase revenue, and achieve growth.

Every organization faces the same challenge of trying to manage multiple working aspects across different operational areas with a limited amount of resources. To overcome this challenge, an organization needs an operations strategy that aligns with its mission and helps them manage workflows and processes, maintain business goals, and measure performance. It should also help guide structural decisions and how operational capabilities must evolve to remain competitive. 

An operations strategy is therefore critical to the overall business strategy of a company. While the business strategy is the “what,” the operations are the “how.” 

Now that we have a better understanding of the benefits, let’s take a look at what elements make up an operations strategy below. 

Elements of an Operations Strategy

An operations strategy is shaped by a number of factors, including what products a company produces, how they are produced, where they’re produced, if technology is used, and how many total resources are available for operations. We’ll briefly look at each of these key elements below. 

• Product : Arguably, the most important element of any operations strategy is the product. The strategy should include how to allocate resources to iterate on the product based on its lifecycle and market trends.
• Production system : A company’s operations strategy also depends on its production system. A production system determines how resources are turned into products and services using clear workflows, quality control benchmarks, and supply chain management strategies.
• Production facilities : A company’s production facilities may have different specializations, production goals, and inventory management systems, which will affect its operational capabilities. The size and number of a company’s production facilities will also be a factor.
• Technology : Technology can affect how the product is produced. An operations strategy should help analyze and select tools and software that help improve the quality or production of products. Machine learning, production line automation, real-time metrics, and market forecasting tools are just a few examples.
• Resource Allocation : Finally, an operations strategy must take into account the total resources available for operations, including locational, mechanical, and human resources, and decide how to allocate them. 

Types of Operations Strategy

There are five major types of operations strategies that can help optimize the use of processes, people, technology, and facilities. Let’s define them below. 

1. Corporate

Corporate strategies are operational strategies that support the company mission and help cross-functional teams work together. These high-level operation plans should enable all business units to successfully implement the overall business strategy. 

2. Customer Driven

Customer-driven operations strategies are designed to meet the needs and expectations of a specific customer segment. To create this type of operational strategy, ask how you can better serve your customers. 

3. Core Competencies

Core competencies strategies are operational strategies that focus on developing and leveraging the company’s key strengths and resources. For example, if a company has technical superiority over its competitors, then this type of operational strategy might focus on educating the sales and customer support team to explain that to customers. 

4. Competitive Priorities

Competitive priorities strategies aim to differentiate the company in the market so they can better provide a product or service. These strategies might focus on the company’s production process, for example, so they can deliver products faster or cheaper than their competitors. 

5. Product Development

This type refers to operations strategies in product development and design. These strategies might be focused on bringing new products to a market or modifying existing ones to perform more competitively in an existing market or launch in new markets. Note that products are not just tangible items — they can also be services. 

Operations Strategy Examples

Below are some different examples of operations strategies that vary by type and what the business’s core objectives are.

1. Automating Inventory Management

Inventory management is a crucial business operation that ensures you can fulfill customers’ orders while reducing backorders and overstocks. A franchise restaurant may decide to use technology, like a stock control database system, to know what inventory they have at any given time so they can keep stores stocked and avoid unnecessary ordering. 

2. Creating a Hiring Plan

To ensure they’re hiring people with the right skill set, a technology company may create a hiring plan. This plan should define each step of the hiring process — from posting a job to screening candidates, scheduling and conducting interviews, extending an offer, and all the steps in between. This ensures that the talent acquisition team can most effectively identify, acquire, assess, and hire candidates and that every candidate has the same positive experience in the recruitment funnel. 

3. Outsourcing Production

To improve its competitive position, a retailer may decide to outsource production to an automated facility in order to manage its supply chain better and speed up its production system. They may also hire an internal employee or an external supply chain management firm to oversee the production and distribution of their products to ensure they meet quality standards. This outsourcing strategy can help the organization cut costs and solve customers’ needs at a better price point.

4. Standardizing Communication

To improve alignment and reduce ad hoc requests from cross-functional teams for custom content, training, and other resources from the product team, a SaaS company may implement strategies to standardize communications. For example, they may assign a specific individual or team the task of maintaining and updating documentation on processes, guidelines, and other critical materials for new and existing products. They may also set up monthly meetings between product marketers and support and sales team leaders.

Optimizing Your Business Operations 

Business operations are the core activities that keep your company running and able to compete and scale. Having a business operations management team and strategy can ensure that your operations are running as efficiently as possible so you can reduce costs, provide superior customer experiences, and boost employee productivity and satisfaction. 

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What Is Operations Management?

Understanding operations management.

• Operations and Supply Chain Management

What Operations Managers Do

The bottom line.

• Business Essentials

Operations Management: Understanding and Using It

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

Operations management (OM) is the administration of business practices to create the highest level of efficiency possible within an organization. It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization.

Operations management teams attempt to balance costs with revenue to achieve the highest possible net operating profit .

Key Takeaways

• Operations management (OM) is the administration of business practices to create the highest level of efficiency possible within an organization.
• Operations management is concerned with converting materials and labor into goods and services as efficiently as possible.
• Corporate operations management professionals try to balance costs with revenue to maximize net operating profit.

Katie Kerpel / Investopedia

Operations management involves utilizing resources from staff, materials, equipment, and technology. Operations managers acquire, develop, and deliver goods to clients based on client needs and the company’s abilities.

Operations management handles various strategic issues, including determining the size of manufacturing plants and project management methods and implementing the structure of information technology networks. Other operational issues include the management of inventory levels, including work-in-process levels and raw materials acquisition, quality control , materials handling, and maintenance policies.

This aspect of a company entails studying the use of raw materials and ensuring that minimal waste occurs. Operations managers use numerous formulas, such as the economic order quantity formula, to determine how large an inventory order to process and when to do so as well as how much inventory to hold on hand.

The combination of understanding and coordinating the work of a company is central to becoming a successful operations manager.

Operations and Supply Chain Management (OSCM)

A critical function of operations management relates to the management of inventory through the supply chain . This process is known as operations and supply chain management (OSCM).

To be an effective operations management professional, one must be able to understand the processes that are essential to what a company does and get them to flow and work together seamlessly. The coordination involved in setting up business processes in an efficient way requires a solid understanding of logistics .

An operations management professional understands local and global trends, customer demand, and available resources for production. Operations management approaches the acquisition of materials and the use of labor in a timely, cost-effective manner to deliver customer expectations. Inventory levels are monitored to ensure that ample quantities are on hand. Operations management is responsible for finding vendors that supply the appropriate goods at reasonable prices and have the ability to deliver the product when needed.

Another large facet of operations management involves the delivery of goods to customers. This includes ensuring that products are delivered within the agreed time commitment. Operations management also typically follows up with customers to ensure that the products meet quality and functionality needs. Finally, operations management takes the feedback received and distributes the relevant information to each department to use in process improvement.

Operations managers are involved in coordinating and developing new processes while reevaluating current structures. Organization and productivity are two key drivers of being an operations manager, and the work often requires versatility and innovation. As part of their daily responsibilities, operations managers must possess a variety of skill sets, including:

• Technical expertise in areas such as production automation, data entry, budget tracking, and design.
• Organizational ability and attention to detail, including keeping track of project files, employee reports, budgets, schedules, and other details related to company processes.
• Motivational prowess in the form of strong leadership skills that provide the expertise to motivate others, inspire ideas, and foster a supportive and diverse team.
• Analytical aptitude , including skill in risk analysis and mitigation when initiating new projects. Operations managers must also analyze processes to identify challenges and offer solutions if negative situations develop.
• Decision-making proficiency , especially under stress, when there is very little time to assess all factors.
• Ability to maintain quality standards , including as they relate to raw materials, machinery, manufacturing procedures, packaging, delivery processes, and the finished product.

A master of business administration (MBA) degree in operations management can provide a global perspective on industry trends and an awareness of financial regulations and political uncertainties that can affect an organization. It also provides a solid grasp of the inherent complexities and the tools needed to respond effectively to change.

What Is the Purpose of Operations Management?

Operations management (OM) is concerned with controlling the production process and business operations in the most efficient manner possible. OM professionals attempt to balance operating costs with revenue to maximize net operating profit.

What Are Some Systems of Operations Management?

Modern operations management revolves around four theories:

• Business process redesign (BPR) , which is focused on analyzing and designing  workflow  and business processes within a company. The goal of BPR is to help companies dramatically restructure the organization by designing the business process from the ground up.
• Reconfigurable manufacturing systems , which are designed to incorporate accelerated change in structure, hardware, and software components. This allows systems to adjust rapidly to the capacity at which they can continue production and function efficiently in response to market or intrinsic system changes.
• Six Sigma , an approach that focuses on quality. The word “six” references the control limits, which are placed at six  standard deviations  from the normal distribution mean. Tools used within the Six Sigma process include trending charts, potential defect calculations, and other ratios.
• Lean manufacturing , which is the systematic elimination of waste within the manufacturing process. This theory sees resource use for any reason other than value creation for customers as wasteful and seeks to eliminate wasteful resource expenditures as much as possible.

What Is an Example of Operations Management?

Operations management is prevalent and most easily understood in the healthcare sector. The current healthcare system overuses expensive, technological, and emergency-based treatment. High costs from care often remain uncompensated due to uninsured patients. The high frequency of services in expensive settings creates a burden on taxpayers, health insurance holders, and healthcare institutions.

To combat this, operations management seeks to streamline costs through optimally allocating resources and optimizing efficiencies to provide quality patient care.

In simple terms, operations management (OM) is the process of prioritizing and employing business practices designed to achieve maximum efficiency as a means to achieve maximum profitability. Within the process, operations managers utilize organization and productivity to achieve their primary goals.

Balancing the efficient use of resources, including staff, materials, equipment, and technology, is key to a successful OM process and, by extension, the success of the company.

University at Buffalo, School of Management. “ Operations and Supply Chain Management .”

Indeed. “ 15 Essential Operational Management Skills .”

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What Are Business Operations Managers and What Do They Do?

Biz ops pros are key to an organization’s success. Here’s why.

A business  operations manager contributes to the overall health of an organization, often by analyzing data to create financial budgets, developing production goals and improving workflows for different departments. With growth as a high priority, this position leads company-wide initiatives that emphasize efficiency and profitability.

What Is a Business Operations Manager?

Business  operations managers are like Swiss army knives — when it comes to contributing to various aspects of a business, they can pretty much do it all.

“If you consider yourself good at everything, but not great at anything, this is the job for you,” Emad ElShawa, senior manager of business operations and strategy at Fundbox , told Built In.

As companies expand and grow more complex, they often need someone who can work cross-functionally to align teams, steer projects and get stuff done. That’s why a business operations manager is crucial to a company’s success.

What Is Business Operations?

Depending on the industry and size and stage of the company, business operations may manifest in different ways.

In some cases, business operations might focus more heavily on change management . In others, it might deal with metrics and reporting alignment between different teams.

Essentially, biz ops is about strategically managing a company’s resources, making its processes standardized, smoothed and streamlined. That way, costs can go down,  employee performance can go up and the organization can run more efficiently.

About 147,300 business operations manager positions are expected to open up between 2022 and 2032, representing about 4.2 percent employment growth, according to projections by the Bureau of Labor Statistics. 

What Does a Business Operations Manager Do?

Business operations managers are versatile employees who collaborate across several departments to find areas where teams can streamline processes, ramp up production and generate more revenue.  

To measure the effects of their decisions, business operations managers compile and analyze data on company revenue. They also make  financial projections to estimate a company’s future performance and adjust financial budgets, production goals and business practices accordingly.  

Business operations managers sometimes report directly to the CEO and are often involved in devising broader strategies that guide the company.

Responsibilities of a Business Operations Manager

The responsibilities of a business operations manager vary by industry and organization, but there are some consistent expectations of the role. Built In asked several business operations pros to explain what they do. Their responses below have been edited and condensed.

1. Build Relationships With Everyone

Often, business operations managers collaborate closely not only with their own biz ops teams (if those exist; sometimes, business operations managers are part of executive teams) but also with leaders from marketing,  sales ,  customer success , HR, legal and more.

“Our biz ops team has worked with pretty much every function at the company. Depending on the project, there is no limit to the number of functions you would work with or the people you would interact with. I report to the head of biz ops, who then reports to the chief operating officer.” — Ayesha Jaggi, Plaid

2. Help Out Everywhere

It’s part of the business operations manager’s job to support the various departments, drive visibility and  guide them toward efficiency .

“We’re like internal consultants. If you think about a body, we’re kind of like the spine. We have access and knowledge from the C-suite level and understand those priorities, as well as the managers’ priorities. At the same time, we sit in the middle; we have access to the other moving parts of the body. We work on different projects, ranging from high-level strategy to operational stuff. We look at the company from two angles: what is the strategy, and what are the infrastructural and operational needs to execute on that strategy.” — Sarah Ouyang, Lattice

3. Create Alignment and Synergy

Business operations managers are uniquely positioned, as they are often connected to top leadership, while also involved in — but distinct from — various departments. They leverage their positions to make sure  department-level success is contributing to larger, organization-wide goals.

“My job is to ask the right questions. Sometimes the manager of a department may not want to make a certain decision; it may be more work for their department, but it’s the right decision for the overall project or the company. It’s my job to nudge them, to make sure they’re following that path, rather than making decisions specifically for their own organization.” — Emad ElShawa, Fundbox

4. Think Analytically and Strategically

Business operations managers look for ways the company can seize new opportunities and reduce costs .

“Another big part of the role is having a strategic lens. The business is always evolving, so there are always new needs that come up. So we might assess, for example, where we want to potentially launch a new initiative, or figure out if there is a gap in the business or a problem we need to fix.” — Jaggi

5. Get Stuff Done

Yes, GSD is a vague, catch-all term. But biz ops managers really do have the explicit function of helping move projects along.

“A lot of my time is dedicated to understanding the progress of the projects I’m involved with. That means getting general status updates from team leads on what’s going good, what’s going bad and where they need me to leverage my influence throughout the company to drive something along that may be stagnating.” — ElShawa

6. Constantly Course Correct

Business operations managers typically have to pivot a lot .

“Several things come up during the course of a project that you didn’t initially anticipate. A decision will have to be made often within a day. It’s important that you stay on top of how it’s going, try to analyze what the problem is and make the best decision to continue pushing the team to the ultimate goal. When you put a project plan together, often you’re looking at it from an overall company, strategic point of view and putting together targets without the direct input of the various teams you’re working with. Sometimes we’ll launch a project with broad goals in mind.” — ElShawa

7. Improve Processes

Biz ops managers dive into the details to help smooth out day-to-day work .

“Recurring responsibilities tend to be very operational. For example, if there’s a system error in one of our tools, if there’s something a sales rep can’t do that they normally can, they would ping me. I think about how to help sales reps become more efficient. For example, I’ll try to find a way to push funding information into Salesforce, so reps don’t have to hunt for that. Or, let’s say they have a very manual contract-signing process, I’ll roll out a way to automate that as fast as the click of a button.” — Ouyang

8. Monitor and Measure Metrics

Measuring key performance indicators , or objectives and key results, as they relate to the business’ operational efficiencies, helps keep everything on track. The business operations manager may oversee this.

“We monitor everything that’s working on an as-is basis, and then we continue to improve the efficiency and performance of the business. We’re setting targets every quarter. We’re measuring metrics. We’re seeing if the strategies we put in place are actually working to deliver the outcomes we expected.” — Jaggi

9. Succeed When Others Succeed

Business operations managers are often involved in lots of different projects with various teams. They are considered successful when those projects are effective and teams meet their goals.

“If I work extensively with the partnership function, our success is tied to the success of that function. Let’s say the partnership team has eight OKRs, or 10 metrics, to hit every quarter. If they miss that number, I hold myself accountable for them having missed that number. I’m working, day in and day out, in the trenches with every member of that team to figure out how they can achieve those targets. So I’m pretty much accountable for that success.” — Jaggi

Qualities of a Business Operations Manager

There’s no cookie-cutter personality that neatly maps onto the role of a business operations manager, nor is there a common career path that leads straight to it. However, people who are successful in this role are often quick decision-makers, good problem solvers and savvy relationship builders .

1. Quick Decision Maker

A business operations manager has to act — and adjust. It’s a role suited for people who can be decisive while at the same time considering the overarching goals of the business and the needs of various stakeholders.

“The best biz ops managers generally have big-picture mentalities. They analyze situations and make decisions based on the company’s best interest, not that of an individual person or department. It’s important to have somebody who’s able to pivot quickly and make decisions, who can stay level-headed, not get too high and not get too low. A lot is going to be thrown at you.” — ElShawa

2. Good Problem Solver

A successful business operations manager has a knack for knowing what to do in complex situations.

“A good sense of problem-solving is really important. When I think about all the different projects, or all the different pain points that I hear from the managers, a lot of it is vague. So being able to understand what that problem is and then internalize it, digest it and break it into specific projects is really helpful.” — Ouyang

3. Relationship Builder

Business operations managers are constantly communicating with people — peers, managers, executives. The job is about supporting other teams, so a biz ops manager needs to be able to  communicate effectively — and empathize — with them. The ability to forge relationships and create synergy within the organization is crucial to getting things done.

“Relationships are really important — being a nice person, having positivity in the work you do, being intentional about talking with others. I think that’s a very important skill for just being a good business partner.” — Jaggi​

Frequently Asked Questions

Is a business operations manager a good job.

A career as a business operations manager has a promising outlook, with the position on track to experience 4.2 percent employment growth between 2022 and 2032.

What is the difference between an operations manager and a business manager?

Operations managers focus on optimizing everyday processes to ensure teams are efficient while still delivering high-quality products. Business managers, on the other hand, dedicate more attention to long-term goals and take on broader responsibilities like managing finances.

What are the responsibilities of an operations manager?

Operations managers are in charge of finding ways to refine day-to-day workflows, so teams can save time and cut down on costs. Depending on the company, they may also keep track of department budgets and report their findings to company leadership and external stakeholders.

What skills do you need to be a business operations manager?

Those seeking to become business operations managers must be able to develop relationships with different teams and stakeholders, solve complex problems and organize their priorities according to business needs, among other skills. 

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• 7 functions of operations management (p ...

7 functions of operations management (plus the skills you need to master them)

Companies have operations departments to keep everyday functions on track. The operations department focuses on maintaining the efficiency of the production process and helps teams make smart decisions. In this piece, you’ll learn the seven functions of operations management. These functions outline the essential duties of the operations team.

Operations management keeps processes running smoothly within organizations. Think of your company as an airport. Each team is an airplane taking off in different directions with their projects and ideas. As an operations manager, you’re the air traffic controller keeping everyone and everything on track. 

Operational planning

Product design

Quality control

Forecasting

Supply chain management

Operations is involved in almost every aspect of an organization. For example, if a project manager wants to hire a new team member, the operations team will first perform a cost-benefit analysis . When the production team wants to create a new product, the operations team starts by assessing customer demand. 

You may spend more time managing some functions than others. For example, if your company doesn't provide a physical product, you likely won't focus much on supply chain management. But understanding every operational function is the best way to prepare to work in any industry. 

1. Operational planning

Operational planning is the foundational function of operations management. Your duties within this function may include:

Monitoring daily production of goods

Managing and controlling your inventory

Keeping tabs on team member performance and well being

Production planning

The role of operations management is to uphold operational efficiency . Always be on the lookout for new advancements to remove bottlenecks and improve your operations strategy.

Skill needed: Resourcefulness

When you’re resourceful, you’ll have an easier time maintaining business processes. As an operations manager, you’ll have to manage your team and keep the company’s wellbeing front of mind. To handle these changes, you need to be fast on your feet. In situations when you don’t have the tools you need at your disposal, it’s critical to think quickly and use what you have to come up with solutions. 

Finance is an essential—and universal—function of operations management because every company strives to reduce costs and increase profits. As an operations manager, you’ll ensure company leaders keep the budget in consideration when they make important decisions. Some of your tasks may include:

Creating budgets to meet production goals

Finding investment opportunities

Allocating budgets and managing resources

You may wonder how the financial duties of the operations team differ from those of the finance department. The finance department will handle everything from revenue to salaries. Meanwhile, you should limit your financial participation to things relevant to the production process.

Skill needed: Financial planning

Financial planning happens when you determine if your business has the budget to achieve strategic objectives and goals. To push your company leaders toward financial success, you’ll need to plan ahead.

Keep production costs low by finding high-quality vendors with low prices. You want to create a top-notch product that stays within your customer’s budget.

3. Product design

Product designers may be the creatives of the team, but the operations team is the eyes and ears that gathers information from the market. Once you identify customer needs and marketing trends , you'll relay what you've learned back to the designers so they can make a strong product. 

Specific tasks your team may handle in this function include:

Consolidating market research into digestible results

Communicating results to a product design team

Offering design direction to help designers devise a product

Without the operations team, the product design team would have trouble knowing what to create. The market is always changing, and creating a successful finished product requires extensive research.

Skill needed: Data interpretation

The ability to interpret data is a key skill for this function of operations management. As the operations manager, you must turn data into understandable directions. Your goal should be to clearly communicate how you want your product to match or exceed other products on the market. 

Once you have a plan in place, streamline communication across teams by using one platform or tool. Create a central project plan to track action items, information, and feedback. Then, share it in a project management tool so everyone can access it and view changes in real time.

4. Quality control

Quality control goes hand in hand with product design. After the production team creates a product, the operations team will ensure it meets quality standards. You’ll need to test the product to guarantee there are no defects before releasing it to the public. Your tasks for quality control may include:

Performing risk analysis to identify potential problems

Inspecting products to make sure they meet quality standards

Creating tests to control your product quality

Documenting any defects or deficiencies of products

The level and standards of quality control vary by industry—one of the first things your team should do during the quality control process is to perform market research to determine what quality standards should be in your industry. Once you’ve outlined a set of quality standards, use them as a benchmark for quality management moving forward.

Skill needed: Conflict management

Not every product will be top quality after one round through the production process. It may take many rounds of design and a few trips back to the drawing board to create a quality product up to standards. 

This type of feedback will ultimately make your product the best version of itself, but it can be hard to hear in the moment. In order to excel at this function of operation management, build strong conflict management strategies . That way, you can weather these times of uncertainty and create products that wow customers.

5. Forecasting

Forecasting isn't just a term for the weather—operations teams also use forecasting to predict the demand for a product. Your team can master forecasting by trying to answer hypothetical questions like:

What will the demand for this product be in the future?

What marketing and promotions should we plan for this product?

What sales initiatives should we plan for this product?

Can we estimate the storage costs we’ll need for inventory?

Can we determine the cost of sourcing and raw materials?

Skill needed: Data driven decision making

Data driven decision making will serve you well in many functions of operations management. The only way to make accurate predictions is to base your predictions on facts. Start by forecasting product demand by analyzing past trends. Then, communicate forecast results to department leaders so they can adjust future plans accordingly.

6. Strategy

Strategy is a broad function of operations management that can involve operational planning , monitoring, and analysis. The goal of strategic management is to make sure production decisions align with business goals. Your company’s business objectives may include: 

Prioritizing customer satisfaction

Improving the production system 

Controlling costs while maintaining a competitive edge

Your job as operations manager is to find ways to meet the business objectives of your company. Some strategies you could use for the examples above include:

Analyzing your inventory: To prioritize customer satisfaction, start by analyzing your inventory. This can increase customer satisfaction by ensuring you’re always able to meet customer demand. 

Collaborating among teams: More collaboration among teams will improve the production system because communication will increase, resulting in less room for error.

Prioritizing green processes: Switching to more environmentally friendly processes can save money in the long run and keep customers invested in your brand.

Skill needed: Critical thinking

Critical thinking is important for the strategic function of operations management because it’s how you create thoughtful ideas and tie them back to fundamental points. When you logically think through concepts, you’re able to develop strong strategies. You can use research and data to support your ideas and then use what you’ve learned to make well-supported decisions for your team. 

7. Supply chain management

If your company produces products or services, your company will need supply chain management for sourcing, producing, and shipping. You may have a separate department for the supply chain, but supply chain issues related to internal production will be yours to handle. The supply chain should flow in a cyclical fashion as follows:

Raw materials

Production/manufacturer

Distributer

The supply chain is cyclical because once you analyze consumer demand, you'll source more raw materials and go down the chain again. 

You don’t necessarily have to follow each of these steps. For example, if you work at a small company, you may send products or services directly to consumers. This cuts out distribution and retail costs, but you’ll still need to keep the supply chain intact. If there’s a bottleneck in one stage of the supply chain, it can wreak havoc on every other stage.

Skill needed: Problem-solving

As an operations manager, you'll need to organize, plan, and delegate . But to take your skills a step further, you must be a good problem-solver as well. There are many problem-solving strategies you can study and keep in your toolbox—and your team members will appreciate your quick solutions when things get tough. 

The importance of operations management

The functions of operations management are critical for every business—whether you’re in the manufacturing or tech industry. While tech companies may find finance and strategy more important and manufacturing companies may focus more on the supply chain, these seven functions draw a full picture of how to run any internal team.

Companies make many decisions through the production process, and the operations team often serves as a voice of reason between departments. Without operations management, departments may have trouble aligning decisions with company goals, avoiding conflict, and keeping operations running smoothly. In particular, operations management:

Motivates team members: The operations team motivates team members by keeping the workplace organized and improving workplace conditions. Team members are more excited to work when they have a functioning work environment.

Utilizes resources: Another part of your job as operations manager is to build a budget that uses the company's resources wisely. Try to reduce costs whenever possible, stretch resources to fit project needs, and keep resources from going to waste.

Enhances collaboration: You can enhance team collaboration within your organization by improving decision making. When you make good decisions, you establish trust among teams, which results in the delivery of top-quality products to customers. 

Helps achieve objectives: You'll help achieve business objectives by serving as a checkpoint for big decisions. When department leaders consider changes or initiatives, you’ll assess whether their ideas align with company goals.

Improves productivity: Increase productivity by making the product’s delivery process more efficient. Team members in your organization may complete their work faster when you make improvements to production.

Understanding the operations team in relation to other departments

An operations department can take on different roles depending on company size and the product. If you’re a small company, the human resources team may share some duties with the operations team, like financial planning. But larger manufacturing companies often have clear lines between operations and human relations. In this setting, you’ll likely work hand-in-hand with a supply chain management team.

You may wonder why supply chain management is one of the main functions of operations management if it’s also a separate department. Even though these two processes are typically closely tied together, the teams focus on slightly different priorities.  Traditionally, operations management involves the internal part of production, while supply chain management involves the external part. 

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Guide teams toward efficiency with Asana

The goal of operations management is to make your decisions smarter and your production leaner. Whether you’re keeping daily projects on track, monitoring product quality, or developing business strategies, Asana can give you the high-level perspective you need to do it all. 

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Business Operations Management (Assignment Guide)

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Introduction to Business - Managing Process (OER LibreTexts)

Read about process.

• Section 12: Managing Process
• 12. 1. Why It Matters - Managing Process Planning, scheduling, technology, logistics, supply chain management, quality assurance—all the aspects of operations management. (OER - LibreTexts)
• 12.2 Operations Management An operations manager is in charge of making sure that production processes run smoothly. That includes fine-tuning production processes to ensure quality, holding down the costs of materials and labor, and cutting costs that don’t add value to the finished product. As you might expect, the role of an operations manager is broad, encompassing many operational areas. (OER - LibreTexts)
• 12.3 Production Processes Businesses know what they want to produce, but the challenge is to select a process that will maximize the productivity and efficiency of production. Senior management looks to their operations managers to inform this decision. As we examine the four major types of production processes, keep in mind that the most successful organizations are those that have their process and product aligned.
• 12.4: Production Planning Operations managers engage in similar planning, but they use different terminology to describe the different parts of the plan. In production planning, the components are facility location, facility layout, materials-requirement planning (MRP), and inventory control.

Process - Credo Reference (Library Database)

More about process.

• Process A process is a set, documented, and repeatable method for executing an organizational task. | from SAGE Key Concepts series: Key Concepts in Operations Management
• Process Management Process management is the set of management activities by which managers design, monitor, and improve the way in which business operations are conducted. from SAGE Key Concepts series: Key Concepts in Operations Management
• Flow Chart A flow chart is a diagram that uses graphic symbols to depict the nature and flow of the steps in a process. | from Dictionary of Industrial Terms
• Gantt Chart A graphic tool widely used in project management for planning and scheduling work, setting out tasks and the time periods within which they should be completed. | from BUSINESS: The Ultimate Resource
• Henry Laurence Gantt The first Gantt chart, known as a ‘daily balance chart’, was developed or the purpose of describing the process of work. Updated daily, the chart showed how work was progressing and facilitated continuous pre-planning of production. Gantt went on to develop other charts to depict costs and expenses graphically. Gantt was always adamant that the purpose of his charts was to provide information on which managers could make decisions, not to make the decisions for them. | from Encyclopedia of the History of American Management
• SAGE Key Concepts series: Key Concepts in Operations Management Key Concepts in Operations Management introduces a selection of key concepts and techniques in the field. Concise, informative and contemporary, with consideration given to explaining the principles of the topic, as well as the relevant debates and literature. | Author: Michel Leseure; Publisher: Sage UK; Copyright: © SAGE Publications Ltd 2010 |Credo Reference Database

Gantt Charts - An Overview

Gantt charts.

A  Gantt chart , named after the designer, Henry Gantt, is an easy-to-use graphical tool that helps operations managers determine the status of projects. Let’s say that you’re in charge of making the “hiking bear” offered by the Vermont Teddy Bear Company. Figure 10.3 is a Gantt chart for the production of one hundred of these bears. As you can see, it shows that several activities must be completed before the bears are dressed: the fur has to be cut, stuffed, and sewn; and the clothes and accessories must be made. Our Gantt chart tells us that by day six, all accessories and clothing have been made. The sewing and stuffing, however (which must be finished before the bears are dressed), isn’t scheduled for completion until the end of day eight. As operations manager, you’ll have to pay close attention to the progress of the sewing and stuffing operations to ensure that finished products are ready for shipment by their scheduled date.

• Source: 10. Operations Management OER (LibreTextbooks) Textbook: Book: Fundamentals of Business (Skripak)

How to Make a Gantt Chart

• How to Make a Gantt Chart in Excel Step-by-step instructions with clear visual diagrams. | Geeks for Geeks (Website)

Communicating with Visuals

• 4.7.1: Tables, Charts, and Infographics In this age of information, there are huge amounts of data to process and an equally impressive number of graphs and charts you can use to tell the data’s story. Here are some of the more commonly used graphs and the kinds of stories they can help you tell. (OER LibreTexts: Business Communication - Buch)
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Operational Planning: How to Make an Operations Plan

The operations of your business can be defined as the sum of all the daily activities that you and your team execute to create products or services and engage with your customers, among other critical business functions. While organizing these moving parts might sound difficult, it can be easily done by writing a business operational plan. But before we learn how to make one, let’s first understand what’s the relationship between strategic and operational planning.

Operational Planning vs. Strategic Planning

Operational planning and strategic planning are complementary to each other. This is because strategic plans define the business strategy and the long-term goals for your organization, while operational plans define the steps required to achieve them.

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Operational Plan Template

Use this free Operational Plan Template for Word to manage your projects better.

What Is a Strategic Plan?

A strategic plan is a business document that describes the business goals of a company as well as the high-level actions that will be taken to achieve them over a time period of 1-3 years.

What Is an Operational Plan?

Operational plans map the daily, weekly or monthly business operations that’ll be executed by the department to complete the goals you’ve previously defined in your strategic plan. Operational plans go deeper into explaining your business operations as they explain roles and responsibilities, timelines and the scope of work.

Operational plans work best when an entire department buys in, assigning due dates for tasks, measuring goals for success, reporting on issues and collaborating effectively. They work even better when there’s a platform like ProjectManager , which facilitates communication across departments to ensure that the machine is running smoothly as each team reaches its benchmark. Get started with ProjectManager for free today.

What Is Operational Planning?

Operational planning is the process of turning strategic plans into action plans, which simply means breaking down high-level strategic goals and activities into smaller, actionable steps. The main goal of operational planning is to coordinate different departments and layers of management to ensure the whole organization works towards the same objective, which is achieving the goals set forth in the strategic plan .

How to Make an Operational Plan

There’s no single approach to follow when making an operation plan for your business. However, there’s one golden rule in operations management : your strategic and operational plans must be aligned. Based on that principle, here are seven steps to make an operational plan.

• Map business processes and workflows: What steps need to be taken at the operations level to accomplish long-term strategic goals?
• Set operational-level goals: Describe what operational-level goals contribute to the achievement of larger strategic goals.
• Determine the operational timeline: Is there any time frame for the achievement of the operational plan?
• Define your resource requirements: Estimate what resources are needed for the execution of the operational plan.
• Estimate the operational budget: Based on your resource requirements, estimate costs and define an operational budget.
• Set a hiring plan: Are there any skills gaps that need to be filled in your organization?
• Set key performance indicators: Define metrics and performance tracking procedures to measure your team’s performance.

Free Operational Plan Template

Leverage everything you’ve learned today with our template. This free operational plan template for Word will help you define your budget, timeline, KPIs and more. It’s the perfect first step in organizing and improving your operations. Download it today.

What Should be Included in an Operational Plan?

Your operational plan should describe your business operations as accurately as possible so that internal teams know how the company works and how they can help achieve the larger strategic objectives. Here’s a list of some of the key elements that you’ll need to consider when writing an operational plan.

Executive Summary

An executive summary is a brief document that summarizes the content of larger documents like business plans, strategic plans or operation plans. Their main purpose is to provide a quick overview for busy stakeholders.

Operational Budget

An operational budget is an estimation of the expected operating costs and revenues for a given time period. As with other types of budget, the operational budget defines the amount of money that’s available to acquire raw materials, equipment or anything else that’s needed for business operations.

It’s important to limit your spending to stay below your operational budget, otherwise, your company could run out of resources to execute its normal activities. You can use our free operating budget template for Excel to track your operating costs.

Operational Objectives

It’s essential to align your operational objectives with your strategic objectives. For example, if one of your strategic objectives is to increase sales by 25 percent over the next three years, one possible operational objective would be to hire new sales employees. You should always grab your strategic plan objectives and turn them into one or multiple action items .

Processes & Workflows

Explain the various business processes, workflows and tasks that need to be executed to achieve your operational objectives. Make sure to explain what resources are needed, such as raw materials, equipment or human resources.

Operational Timeline

It’s important to establish a timeline for your operational plan. In most cases, your operational plan will have the same length as your strategic plan, but in some scenarios, you might create multiple operational plans for specific purposes. Not all operational plans are equal, so the length of your operational timeline will depend on the duration of your projects , workflows and processes.

Hiring Plan

Find any skills gap there might be in your team. You might need to hire a couple of individuals or even create new departments in order to execute your business processes .

Quality Assurance and Control

Most companies implement quality assurance and control procedures for a variety of reasons such as customer safety and regulatory compliance. In addition, quality assurance issues can cost your business millions, so establishing quality management protocols is a key step in operational planning.

Key Performance Indicators

It’s important to establish key performance indicators (KPIs) to measure the productivity of your business operations. You can define as many KPIs as needed for all your business processes. For example, you can define KPIs for marketing, sales, product development and other key departments in your company. This can include product launch deadlines, number of manufactured goods, number of customer service cases closed, number of 5-star reviews received, number of customers acquired, revenue increased by a certain percentage and so on.

Risks, Assumptions and Constraints

Note any potential risks, assumptions and time or resource constraints that might affect your business operations.

What Are the Benefits of Operational Planning?

Every plan has a massive effect on all team members involved, and those can be to your company’s benefit or to their detriment. If it’s to their detriment, it’s best to find out as soon as possible so you can modify your operational plan and pivot with ease.

But that’s the whole point of operational planning: you get to see the effect of your operations on the business’s bottom line in real time, or at every benchmark, so you know exactly when to pivot. And with a plan that’s as custom to each department as an operational plan, you know exactly where things go wrong and why.

How ProjectManager Can Help with Operational Planning

Creating and implementing a high-quality operational plan is the best way to ensure that your organization starts out a project on the right foot. ProjectManager has award-winning project management tools to help you craft and execute such a plan.

Gantt charts are essential to create and monitor operational plans effectively. ProjectManager helps you access your Gantt chart online so you can add benchmarks for operational performance reviews. You can also create tasks along with dependencies to make the operation a surefire success.

Whether you’re a team of IT system administrators, marketing experts, or engineers, ProjectManager includes robust planning and reporting tools. Plan in sprints, assign due dates, collaborate with team members and track everything with just the click of a button. Plus, we have numerous ready-made project reports that can be generated instantly, including status reports, variance reports, timesheet reports and more.

Related Operations Management Content

• Operational Strategy: A Quick Guide
• Operations Management: Key Functions, Roles and Skills
• Operational Efficiency: A Quick Guide
• Using Operational Excellence to Be More Productive

Operational planning isn’t done in a silo, and it doesn’t work without the full weight of the team backing it up. Ensure that your department is successful at each benchmark. ProjectManager is an award-winning pm software dedicated to helping businesses smooth out their operational plans for a better year ahead. Sign up for our free 30-day trial today.

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Browse Course Material

Course info, instructors.

• Prof. Charles H. Fine
• Prof. Tauhid Zaman

Departments

• Sloan School of Management

As Taught In

• Mathematics
• Social Science

Introduction to Operations Management

Assignments, “quick” case analyses.

The purpose of these assignments is to support your thinking about primarily qualitative issues raised in the course. These three write-ups ( choose three from CVS, Toyota, Zara/M&S, Amazon, European Recycling, Hank Kolb, Katrina, Break.com, Barilla ) should provide a point of view as to what some protagonist in the case should do given the situation faced. These write-ups should be in the form of a one-page memo (single spaced, max font of 12) and contain your opinions, based on reasoned analysis addressing issues raised by the preparation questions (see the Case Preparation Questions section). Please DO NOT answer these questions directly. Rather, use these questions to help guide your thinking as to what issues may be relevant in the case. Quantitative or numerical analyses ARE NOT EXPECTED in these quick case analyses, although they are not discouraged either. In preparing for these assignments, please adhere to the following guidelines:

• Work as an individual on these assignments. This is a firm constraint, no exceptions.
• Written assignments are to be turned in at the beginning of class on the due date assigned.
• Case analysis assignments are limited in length to a single-page, single-spaced memo using a text font no smaller than 12.
• Each one-page memo may be accompanied by up to two pages of supporting exhibits, provided they are clear and self-explanatory. No fonts smaller than 12.

“Deep” Case Analyses

These two write-ups ( choose two from PATA, HP-DeskJet, and Sport Obermeyer ) should contain your answers to the specific preparation questions for the corresponding cases (see the Case Preparation Questions section). In preparing for these assignments, please adhere to the following guidelines:

• Work in teams of at most 3 students. This is a firm constraint, no exceptions.
• Case analysis assignments must be less than 4 pages in length (excluding appendices) and use text fonts no smaller than 12.
• Every graph or table/spreadsheet showing the results of computations must be accompanied by both a clear description of what all numbers shown represent qualitatively, and a detailed explanation of how they are computed, including a statement of all the relevant mathematical formulas or algorithms. Please do not submit a table copied from a spreadsheet assuming that the instructors will try to figure out by themselves how the numbers it shows are calculated—they won’t.

There will be two short homework assignments that will aim to test your grasp of some of the quantitative material taught in the course:

• The assignments should be done individually and submitted at the beginning of class on the day they are due.
• Homework assignments should be 1 page of text font no smaller than 12.

The Goal Book Report

Each student in the class should individually prepare and turn in a report of at most 3 pages containing answers to the following questions (in Q&A form, not essay form):

• What are the methods described in The Goal for identifying a bottleneck?
• After bottlenecks have been identified, what are the concrete factory floor-level actions described in the book for improving overall system performance?
• Relate the notions of statistical fluctuations and dependent events mentioned in the book to concepts covered during the course. Also explain and relate to course concepts the statement made by Jonah that a factory “balanced with demand” will soon experience bankruptcy.
• Several times in the book, lot sizes are reduced in order to decrease cycle time. What are the limits to this strategy?
• When designing an operational process from scratch, which process step(s) should be the bottleneck(s)?
• What are the high-level management messages in this book that you consider to be of value?
• Leaving writing style and other delivery issues aside (e.g., romance novel format), what substantial critiques of this book would you make pertaining to its function as a “textbook” on the management of business operations?

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Operations Management Research Paper Topics

Operations management research paper topics encompass a wide array of subjects related to the effective planning, organizing, and supervision of business operations. These topics offer a rich field of inquiry for scholars and practitioners alike, reflecting the complexity and centrality of operations management in modern business. This page is designed to provide students with comprehensive guidance on operations management research, including a categorized list of research topics, insights into choosing and writing on these topics, and exclusive writing services by iResearchNet. Whether you are a beginner or an advanced researcher in the field, this resource aims to support your exploration of the diverse and dynamic world of operations management.

100 Operations Management Research Paper Topics

Operations management is a multifaceted field that integrates various aspects of business like production, logistics, quality control, and much more. For students looking to delve into research, here’s an extensive list of topics categorized into ten different sectors.

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• The role of technology in enhancing production efficiency.
• Sustainable production practices and their impact on profitability.
• Mass customization in modern manufacturing.
• Just-in-time (JIT) production: Pros and cons.
• Managing production lines for optimal workflow.
• The influence of automation on manufacturing processes.
• Ergonomics and production management.
• The future of 3D printing in manufacturing.
• Outsourcing production: Challenges and opportunities.
• Lean manufacturing principles and their application.

Supply Chain Management

• The importance of information sharing in the supply chain.
• Risk management in global supply chains.
• Ethical considerations in supply chain management.
• Impact of e-commerce on traditional supply chain models.
• Inventory management: Best practices.
• The role of transportation in the supply chain.
• Achieving sustainability through green supply chain practices.
• The influence of big data on supply chain decisions.
• Cross-border supply chain challenges.
• Vendor management and strategic partnerships.

Quality Control and Assurance

• Total Quality Management (TQM) in the 21st century.
• Six Sigma methodology in operations management.
• Quality assurance in the food and beverage industry.
• Role of continuous improvement in quality management.
• Balancing cost and quality in manufacturing.
• Role of customer feedback in quality assurance.
• Impact of quality control on brand reputation.
• Quality assurance standards in healthcare.
• The relationship between employee training and quality control.
• Quality management systems: ISO 9001 and others.

Logistics Management

• Technological advancements in logistics and distribution.
• Managing logistics in e-commerce.
• Impact of globalization on logistics management.
• Third-party logistics (3PL) vs. in-house logistics.
• Green logistics: Integrating sustainability.
• Humanitarian logistics in disaster management.
• Role of government regulations in logistics.
• Challenges of urban logistics.
• Reverse logistics: Principles and practices.
• The future of drone technology in logistics.

Service Operations Management

• The importance of customer experience in service operations.
• Managing service quality in the hospitality industry.
• Service blueprinting as a tool for service design.
• Role of technology in enhancing service efficiency.
• Balancing supply and demand in service industries.
• The application of lean principles in service operations.
• Innovations in healthcare service operations.
• Ethical considerations in service provision.
• Outsourcing services: A strategic perspective.
• Transforming traditional services with digital technologies.

Strategic Operations Management

• Aligning operations strategy with business goals.
• The role of operations management in organizational success.
• Developing a competitive advantage through operational excellence.
• Integrating innovation into operations strategy.
• Global strategies in operations management.
• The role of leadership in strategic operations management.
• Operations strategy in small and medium-sized enterprises (SMEs).
• Evaluating the performance of an operations strategy.
• Mergers and acquisitions: Integrating operations.
• Strategic considerations in outsourcing operations.

Sustainability and Environmental Considerations

• Incorporating sustainability into operations management.
• Environmental regulations and their impact on operations.
• Waste management practices in manufacturing.
• Achieving energy efficiency in operations.
• Sustainable practices in supply chain management.
• The role of corporate social responsibility (CSR) in operations.
• Life cycle assessment in product design.
• Sustainable procurement practices.
• The green factory: Myths and realities.
• Social sustainability in operations management.

Technology and Innovation Management

• The impact of Industry 4.0 on operations management.
• Implementing Artificial Intelligence (AI) in operations.
• Challenges of integrating IoT in manufacturing.
• The role of innovation in competitive advantage.
• Managing technology-driven change in organizations.
• Virtual reality (VR) and augmented reality (AR) in operations.
• The future of robotics in manufacturing.
• Innovation culture: Fostering creativity in operations.
• Technology management in healthcare operations.
• Digital transformation and its impact on operations.

Project Management

• Agile project management in operations.
• Risk management in project execution.
• The role of project management offices (PMOs).
• Project portfolio management: An integrated approach.
• Tools and technologies for efficient project management.
• Stakeholder management in project execution.
• The psychology of project management.
• Cross-cultural considerations in global projects.
• Managing virtual teams in projects.
• Project failure: Analysis and lessons learned.

Human Resources and Operations

• Managing diversity in operations management.
• The role of team dynamics in operational success.
• Talent management in operations.
• Employee motivation and performance in operations.
• Human factors in safety management.
• The importance of organizational culture in operations.
• Training and development in operations management.
• Employee engagement and its impact on operational efficiency.
• Managing remote work in operations.
• Labor relations and negotiations in operations.

Operations management remains an evolving and essential field in both academia and industry. The above topics reflect the breadth and depth of areas one could explore. Each subject offers unique insights and challenges, enabling students to apply theoretical concepts to real-world scenarios. These topics are designed to inspire critical thinking and provide a starting point for those embarking on research in operations management. Whether you are looking for a topic that aligns with your interests or seeking to address current issues in the field, this comprehensive list offers diverse paths to contribute to the body of knowledge in operations management.

Operations Management and the Range of Research Paper Topics

Operations management is a vital aspect of business that deals with the design, administration, and optimization of business processes. It plays a crucial role in ensuring that an organization operates efficiently and effectively. From manufacturing to services, operations management transcends various sectors and industries. In this article, we’ll delve into the multifaceted world of operations management, explore its significance, and elucidate the range of research paper topics it offers.

Introduction to Operations Management

Operations management is all about the planning, oversight, and control of processes that transform inputs such as materials, labor, and technology into outputs like goods and services. It’s a dynamic field that requires a blend of analytical thinking, problem-solving, and practical skills.

Operations managers focus on improving efficiency, reducing costs, maintaining quality, and ensuring that products or services are delivered on time. The scope of operations management is broad, encompassing areas like:

• Production Management : Deals with the creation of goods and services.
• Supply Chain Management : Focuses on the flow of materials from suppliers to customers.
• Quality Control : Ensures products meet specified quality standards.
• Logistics : Concerned with the movement, storage, and flow of goods.
• Project Management : Involves planning and overseeing projects to ensure they are completed on time and within budget.

Significance of Operations Management

Operations management is at the heart of any organization, impacting several critical areas:

• Efficiency : By optimizing processes and eliminating waste, operations management helps in utilizing resources more efficiently.
• Cost Reduction : Through continuous improvement and innovation, costs can be reduced, leading to higher profitability.
• Customer Satisfaction : By ensuring quality and timely delivery, operations management plays a key role in customer satisfaction.
• Competitive Advantage : Organizations that excel in operations management often have a competitive edge in the market.

The Ever-Evolving Nature of Operations Management

The field of operations management continues to evolve, driven by technological advancements, globalization, environmental concerns, and changing consumer preferences. Topics such as sustainability, automation, digital transformation, and global supply chain challenges are becoming increasingly relevant.

Range of Research Paper Topics

Given the diverse and complex nature of operations management, the range of research paper topics is vast and can be categorized into several areas:

• Production Management : From lean manufacturing to the use of artificial intelligence, research can focus on how to make production more efficient and adaptable.
• Supply Chain Management : Topics could include risk management, ethical considerations, green practices, and the influence of e-commerce on traditional supply chains.
• Quality Control and Assurance : Research in this area could explore methodologies like Six Sigma, continuous improvement, and the relationship between training and quality control.
• Logistics Management : With the growing importance of e-commerce and sustainability, research in logistics management is thriving.
• Service Operations Management : This includes the design and management of processes that create and deliver services, with potential research focusing on customer experience, technology, and innovation.
• Strategic Operations Management : Research topics can explore how operations strategy aligns with business goals and contributes to competitive advantage.
• Sustainability and Environmental Considerations : This is an emerging area focusing on how operations management can contribute to a more sustainable future.
• Technology and Innovation Management : From Industry 4.0 to digital transformation, this category looks at how technology is reshaping operations management.
• Project Management : Topics might include agile methodologies, stakeholder management, risk mitigation, and cross-cultural considerations in global projects.
• Human Resources and Operations : This could include topics like managing diversity, team dynamics, employee motivation, and training in operations management.

Operations management is a vibrant and multifaceted field with a wide array of research possibilities. From traditional manufacturing to modern service industries, from small businesses to multinational corporations, operations management is at the core of organizational success.

The broad range of topics reflects the evolving nature of the field and the challenges and opportunities that come with it. For students seeking to contribute to this essential area of business, these topics offer a rich and diverse avenue for exploration and innovation.

By understanding and engaging with these various aspects, scholars, practitioners, and students can appreciate the importance of operations management in today’s global economy and contribute to its future development. Whether through academic research or practical application, operations management remains a critical field that continues to shape the way businesses operate and thrive.

How to Choose Operations Management Research Paper Topics

Choosing the right topic for a research paper in operations management is a critical step that can significantly impact the quality and relevance of your work. It can be both an exciting and daunting task, given the wide array of topics available in this dynamic field. In this section, we’ll provide an introductory paragraph, 10 practical tips, and a concluding paragraph to guide you in selecting the ideal operations management research paper topic.

Operations management is a multifaceted field that encompasses various aspects of business processes, from production to logistics, supply chain to quality control. As such, it offers a wide range of intriguing research paper topics. The right topic not only aligns with your interests and academic goals but also has the potential to contribute to the broader field of operations management. Here are some tips to assist you in making an informed choice.

10 Tips for Choosing Operations Management Research Paper Topics

• Identify Your Interests : Start by listing areas within operations management that intrigue you the most. Passion for the subject can fuel your research and make the process more enjoyable.
• Understand the Scope : Consider the breadth and depth of the topic. A topic that’s too broad may be unmanageable, while a too narrow focus may lack sufficient material for research.
• Check for Relevance : Ensure that the topic aligns with current industry trends and challenges. A relevant topic will have a greater impact and may open opportunities for further study or career advancement.
• Consult Academic Sources : Look through academic journals, textbooks, and other scholarly publications in operations management to discover prevailing research themes and gaps in the literature.
• Consider Practical Implications : If possible, choose a topic that has practical applications in real-world scenarios. This connection between theory and practice can make your research more compelling.
• Assess Available Resources : Evaluate the resources you have at your disposal, including access to data, software, labs, or industry experts. Some topics might require specialized tools or contacts.
• Seek Guidance from Advisors : Consult with professors, mentors, or industry professionals who have expertise in operations management. Their insights can help refine your topic and provide direction.
• Evaluate Your Skill Set : Reflect on your skills and expertise in the subject area. Selecting a topic that complements your strengths will facilitate a smoother research process.
• Consider Ethical Implications : Ensure that the chosen topic adheres to ethical standards, especially if it involves human subjects, sensitive data, or controversial issues.
• Think about Future Opportunities : Your research paper can be a stepping stone for further studies, publications, or career opportunities. Consider how the chosen topic might align with your long-term goals.

Concluding Thoughts

Choosing a research paper topic in operations management is a delicate balance between your interests, the academic and industry relevance, the feasibility of research, and alignment with ethical standards. By adhering to these tips, you can select a topic that not only resonates with your passion and capabilities but also contributes to the field of operations management.

Remember that the right topic is a catalyst that can ignite your creativity and analytical abilities, leading to a meaningful and rewarding research experience. Whether you’re exploring sustainable supply chain practices or innovative quality control techniques, your choice of topic is the foundation upon which your entire research project is built. Make it a strong, informed one, and you’ll set yourself up for success in the vibrant world of operations management.

How to Write an Operations Management Research Paper

Writing a research paper in operations management is a systematic process that requires careful planning, in-depth research, and coherent presentation. This endeavor involves not only an understanding of the operations management concepts but also the ability to analyze, evaluate, and apply them in various real-world contexts. Below, you will find an introductory paragraph, 10 essential tips, and a concluding paragraph to guide you through the process of writing an operations management research paper.

Introduction

Operations management is a complex field that integrates various aspects of production, quality control, logistics, and supply chain management. Writing a research paper on a topic within this discipline demands a clear understanding of both theoretical principles and practical applications. The task may seem overwhelming, but with the right approach and adherence to specific guidelines, you can craft a paper that stands out in quality and relevance.

10 Tips for Writing an Operations Management Research Paper

• Choose the Right Topic : Refer to the previous section for tips on selecting a relevant and engaging topic that aligns with your interests and the broader field of operations management.
• Conduct Thorough Research : Utilize reputable academic sources such as journals, textbooks, and industry reports. Gather sufficient data and insights that relate to your chosen topic.
• Create a Strong Thesis Statement : Your thesis should clearly articulate the main idea or argument of your paper. It serves as the guiding star for your entire research.
• Develop an Outline : Before diving into writing, create a detailed outline that maps out the structure of your paper. It should include an introduction, literature review, methodology, findings, discussion, conclusion, and references.
• Write a Compelling Introduction : Start your paper with an engaging introduction that provides background on the topic, states the problem, and introduces the thesis statement.
• Include a Literature Review : Summarize existing research on the topic, highlighting key theories, models, and empirical findings. This section establishes the context for your study.
• Explain Your Methodology : Describe the research design, methods, and tools you used to collect and analyze data. Be meticulous in explaining how you ensured the reliability and validity of your study.
• Present Findings Clearly : Organize and present your research findings in a logical manner. Use charts, graphs, and tables where necessary to visualize the data.
• Discuss the Implications : In the discussion section, interpret the results, compare them with existing research, and explore the implications for operations management practice and future research.
• Edit and Revise : Spend ample time revising and proofreading your paper. Consider seeking feedback from peers, mentors, or professional editing services to ensure clarity, coherence, and correctness.

Writing a research paper in operations management is a rewarding yet challenging task. It requires a fusion of technical knowledge, analytical thinking, and writing skills. By following the tips outlined above, you’ll be well-equipped to craft a paper that is not only academically rigorous but also relevant to the dynamic and multifaceted world of operations management.

Remember, writing a research paper is a process that demands time, effort, and perseverance. Be patient with yourself and stay committed to excellence at every stage of the journey. The final product – a well-researched, well-written paper – is a testament to your intellectual curiosity, hard work, and contribution to the ever-evolving field of operations management. Whether you’re a seasoned researcher or a student just starting out, these guidelines are designed to empower you to write with confidence and integrity in the domain of operations management.

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11.4 The Business Plan

Learning objectives.

By the end of this section, you will be able to:

• Describe the different purposes of a business plan
• Describe and develop the components of a brief business plan
• Describe and develop the components of a full business plan

Unlike the brief or lean formats introduced so far, the business plan is a formal document used for the long-range planning of a company’s operation. It typically includes background information, financial information, and a summary of the business. Investors nearly always request a formal business plan because it is an integral part of their evaluation of whether to invest in a company. Although nothing in business is permanent, a business plan typically has components that are more “set in stone” than a business model canvas , which is more commonly used as a first step in the planning process and throughout the early stages of a nascent business. A business plan is likely to describe the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives. An in-depth formal business plan would follow at later stages after various iterations to business model canvases. The business plan usually projects financial data over a three-year period and is typically required by banks or other investors to secure funding. The business plan is a roadmap for the company to follow over multiple years.

Some entrepreneurs prefer to use the canvas process instead of the business plan, whereas others use a shorter version of the business plan, submitting it to investors after several iterations. There are also entrepreneurs who use the business plan earlier in the entrepreneurial process, either preceding or concurrently with a canvas. For instance, Chris Guillebeau has a one-page business plan template in his book The $100 Startup . 48 His version is basically an extension of a napkin sketch without the detail of a full business plan. As you progress, you can also consider a brief business plan (about two pages)—if you want to support a rapid business launch—and/or a standard business plan.

As with many aspects of entrepreneurship, there are no clear hard and fast rules to achieving entrepreneurial success. You may encounter different people who want different things (canvas, summary, full business plan), and you also have flexibility in following whatever tool works best for you. Like the canvas, the various versions of the business plan are tools that will aid you in your entrepreneurial endeavor.

Business Plan Overview

Most business plans have several distinct sections ( Figure 11.16 ). The business plan can range from a few pages to twenty-five pages or more, depending on the purpose and the intended audience. For our discussion, we’ll describe a brief business plan and a standard business plan. If you are able to successfully design a business model canvas, then you will have the structure for developing a clear business plan that you can submit for financial consideration.

Both types of business plans aim at providing a picture and roadmap to follow from conception to creation. If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept.

The full business plan is aimed at executing the vision concept, dealing with the proverbial devil in the details. Developing a full business plan will assist those of you who need a more detailed and structured roadmap, or those of you with little to no background in business. The business planning process includes the business model, a feasibility analysis, and a full business plan, which we will discuss later in this section. Next, we explore how a business plan can meet several different needs.

Purposes of a Business Plan

A business plan can serve many different purposes—some internal, others external. As we discussed previously, you can use a business plan as an internal early planning device, an extension of a napkin sketch, and as a follow-up to one of the canvas tools. A business plan can be an organizational roadmap , that is, an internal planning tool and working plan that you can apply to your business in order to reach your desired goals over the course of several years. The business plan should be written by the owners of the venture, since it forces a firsthand examination of the business operations and allows them to focus on areas that need improvement.

Refer to the business venture throughout the document. Generally speaking, a business plan should not be written in the first person.

A major external purpose for the business plan is as an investment tool that outlines financial projections, becoming a document designed to attract investors. In many instances, a business plan can complement a formal investor’s pitch. In this context, the business plan is a presentation plan, intended for an outside audience that may or may not be familiar with your industry, your business, and your competitors.

You can also use your business plan as a contingency plan by outlining some “what-if” scenarios and exploring how you might respond if these scenarios unfold. Pretty Young Professional launched in November 2010 as an online resource to guide an emerging generation of female leaders. The site focused on recent female college graduates and current students searching for professional roles and those in their first professional roles. It was founded by four friends who were coworkers at the global consultancy firm McKinsey. But after positions and equity were decided among them, fundamental differences of opinion about the direction of the business emerged between two factions, according to the cofounder and former CEO Kathryn Minshew . “I think, naively, we assumed that if we kicked the can down the road on some of those things, we’d be able to sort them out,” Minshew said. Minshew went on to found a different professional site, The Muse , and took much of the editorial team of Pretty Young Professional with her. 49 Whereas greater planning potentially could have prevented the early demise of Pretty Young Professional, a change in planning led to overnight success for Joshua Esnard and The Cut Buddy team. Esnard invented and patented the plastic hair template that he was selling online out of his Fort Lauderdale garage while working a full-time job at Broward College and running a side business. Esnard had hundreds of boxes of Cut Buddies sitting in his home when he changed his marketing plan to enlist companies specializing in making videos go viral. It worked so well that a promotional video for the product garnered 8 million views in hours. The Cut Buddy sold over 4,000 products in a few hours when Esnard only had hundreds remaining. Demand greatly exceeded his supply, so Esnard had to scramble to increase manufacturing and offered customers two-for-one deals to make up for delays. This led to selling 55,000 units, generating $700,000 in sales in 2017. 50 After appearing on Shark Tank and landing a deal with Daymond John that gave the “shark” a 20-percent equity stake in return for $300,000, The Cut Buddy has added new distribution channels to include retail sales along with online commerce. Changing one aspect of a business plan—the marketing plan—yielded success for The Cut Buddy.

Link to Learning

Watch this video of Cut Buddy’s founder, Joshua Esnard, telling his company’s story to learn more.

If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept. This version is used to interest potential investors, employees, and other stakeholders, and will include a financial summary “box,” but it must have a disclaimer, and the founder/entrepreneur may need to have the people who receive it sign a nondisclosure agreement (NDA) . The full business plan is aimed at executing the vision concept, providing supporting details, and would be required by financial institutions and others as they formally become stakeholders in the venture. Both are aimed at providing a picture and roadmap to go from conception to creation.

Types of Business Plans

The brief business plan is similar to an extended executive summary from the full business plan. This concise document provides a broad overview of your entrepreneurial concept, your team members, how and why you will execute on your plans, and why you are the ones to do so. You can think of a brief business plan as a scene setter or—since we began this chapter with a film reference—as a trailer to the full movie. The brief business plan is the commercial equivalent to a trailer for Field of Dreams , whereas the full plan is the full-length movie equivalent.

Brief Business Plan or Executive Summary

As the name implies, the brief business plan or executive summary summarizes key elements of the entire business plan, such as the business concept, financial features, and current business position. The executive summary version of the business plan is your opportunity to broadly articulate the overall concept and vision of the company for yourself, for prospective investors, and for current and future employees.

A typical executive summary is generally no longer than a page, but because the brief business plan is essentially an extended executive summary, the executive summary section is vital. This is the “ask” to an investor. You should begin by clearly stating what you are asking for in the summary.

In the business concept phase, you’ll describe the business, its product, and its markets. Describe the customer segment it serves and why your company will hold a competitive advantage. This section may align roughly with the customer segments and value-proposition segments of a canvas.

Next, highlight the important financial features, including sales, profits, cash flows, and return on investment. Like the financial portion of a feasibility analysis, the financial analysis component of a business plan may typically include items like a twelve-month profit and loss projection, a three- or four-year profit and loss projection, a cash-flow projection, a projected balance sheet, and a breakeven calculation. You can explore a feasibility study and financial projections in more depth in the formal business plan. Here, you want to focus on the big picture of your numbers and what they mean.

The current business position section can furnish relevant information about you and your team members and the company at large. This is your opportunity to tell the story of how you formed the company, to describe its legal status (form of operation), and to list the principal players. In one part of the extended executive summary, you can cover your reasons for starting the business: Here is an opportunity to clearly define the needs you think you can meet and perhaps get into the pains and gains of customers. You also can provide a summary of the overall strategic direction in which you intend to take the company. Describe the company’s mission, vision, goals and objectives, overall business model, and value proposition.

Rice University’s Student Business Plan Competition, one of the largest and overall best-regarded graduate school business-plan competitions (see Telling Your Entrepreneurial Story and Pitching the Idea ), requires an executive summary of up to five pages to apply. 51 , 52 Its suggested sections are shown in Table 11.2 .

Are You Ready?

Create a brief business plan.

Fill out a canvas of your choosing for a well-known startup: Uber, Netflix, Dropbox, Etsy, Airbnb, Bird/Lime, Warby Parker, or any of the companies featured throughout this chapter or one of your choice. Then create a brief business plan for that business. See if you can find a version of the company’s actual executive summary, business plan, or canvas. Compare and contrast your vision with what the company has articulated.

• These companies are well established but is there a component of what you charted that you would advise the company to change to ensure future viability?
• Map out a contingency plan for a “what-if” scenario if one key aspect of the company or the environment it operates in were drastically is altered?

Full Business Plan

Even full business plans can vary in length, scale, and scope. Rice University sets a ten-page cap on business plans submitted for the full competition. The IndUS Entrepreneurs , one of the largest global networks of entrepreneurs, also holds business plan competitions for students through its Tie Young Entrepreneurs program. In contrast, business plans submitted for that competition can usually be up to twenty-five pages. These are just two examples. Some components may differ slightly; common elements are typically found in a formal business plan outline. The next section will provide sample components of a full business plan for a fictional business.

Executive Summary

The executive summary should provide an overview of your business with key points and issues. Because the summary is intended to summarize the entire document, it is most helpful to write this section last, even though it comes first in sequence. The writing in this section should be especially concise. Readers should be able to understand your needs and capabilities at first glance. The section should tell the reader what you want and your “ask” should be explicitly stated in the summary.

Describe your business, its product or service, and the intended customers. Explain what will be sold, who it will be sold to, and what competitive advantages the business has. Table 11.3 shows a sample executive summary for the fictional company La Vida Lola.

Business Description

This section describes the industry, your product, and the business and success factors. It should provide a current outlook as well as future trends and developments. You also should address your company’s mission, vision, goals, and objectives. Summarize your overall strategic direction, your reasons for starting the business, a description of your products and services, your business model, and your company’s value proposition. Consider including the Standard Industrial Classification/North American Industry Classification System (SIC/NAICS) code to specify the industry and insure correct identification. The industry extends beyond where the business is located and operates, and should include national and global dynamics. Table 11.4 shows a sample business description for La Vida Lola.

Industry Analysis and Market Strategies

Here you should define your market in terms of size, structure, growth prospects, trends, and sales potential. You’ll want to include your TAM and forecast the SAM . (Both these terms are discussed in Conducting a Feasibility Analysis .) This is a place to address market segmentation strategies by geography, customer attributes, or product orientation. Describe your positioning relative to your competitors’ in terms of pricing, distribution, promotion plan, and sales potential. Table 11.5 shows an example industry analysis and market strategy for La Vida Lola.

Competitive Analysis

The competitive analysis is a statement of the business strategy as it relates to the competition. You want to be able to identify who are your major competitors and assess what are their market shares, markets served, strategies employed, and expected response to entry? You likely want to conduct a classic SWOT analysis (Strengths Weaknesses Opportunities Threats) and complete a competitive-strength grid or competitive matrix. Outline your company’s competitive strengths relative to those of the competition in regard to product, distribution, pricing, promotion, and advertising. What are your company’s competitive advantages and their likely impacts on its success? The key is to construct it properly for the relevant features/benefits (by weight, according to customers) and how the startup compares to incumbents. The competitive matrix should show clearly how and why the startup has a clear (if not currently measurable) competitive advantage. Some common features in the example include price, benefits, quality, type of features, locations, and distribution/sales. Sample templates are shown in Figure 11.17 and Figure 11.18 . A competitive analysis helps you create a marketing strategy that will identify assets or skills that your competitors are lacking so you can plan to fill those gaps, giving you a distinct competitive advantage. When creating a competitor analysis, it is important to focus on the key features and elements that matter to customers, rather than focusing too heavily on the entrepreneur’s idea and desires.

Operations and Management Plan

In this section, outline how you will manage your company. Describe its organizational structure. Here you can address the form of ownership and, if warranted, include an organizational chart/structure. Highlight the backgrounds, experiences, qualifications, areas of expertise, and roles of members of the management team. This is also the place to mention any other stakeholders, such as a board of directors or advisory board(s), and their relevant relationship to the founder, experience and value to help make the venture successful, and professional service firms providing management support, such as accounting services and legal counsel.

Table 11.6 shows a sample operations and management plan for La Vida Lola.

Marketing Plan

Here you should outline and describe an effective overall marketing strategy for your venture, providing details regarding pricing, promotion, advertising, distribution, media usage, public relations, and a digital presence. Fully describe your sales management plan and the composition of your sales force, along with a comprehensive and detailed budget for the marketing plan. Table 11.7 shows a sample marketing plan for La Vida Lola.

Financial Plan

A financial plan seeks to forecast revenue and expenses; project a financial narrative; and estimate project costs, valuations, and cash flow projections. This section should present an accurate, realistic, and achievable financial plan for your venture (see Entrepreneurial Finance and Accounting for detailed discussions about conducting these projections). Include sales forecasts and income projections, pro forma financial statements ( Building the Entrepreneurial Dream Team , a breakeven analysis, and a capital budget. Identify your possible sources of financing (discussed in Conducting a Feasibility Analysis ). Figure 11.19 shows a template of cash-flow needs for La Vida Lola.

Entrepreneur In Action

Laughing man coffee.

Hugh Jackman ( Figure 11.20 ) may best be known for portraying a comic-book superhero who used his mutant abilities to protect the world from villains. But the Wolverine actor is also working to make the planet a better place for real, not through adamantium claws but through social entrepreneurship.

A love of java jolted Jackman into action in 2009, when he traveled to Ethiopia with a Christian humanitarian group to shoot a documentary about the impact of fair-trade certification on coffee growers there. He decided to launch a business and follow in the footsteps of the late Paul Newman, another famous actor turned philanthropist via food ventures.

Jackman launched Laughing Man Coffee two years later; he sold the line to Keurig in 2015. One Laughing Man Coffee café in New York continues to operate independently, investing its proceeds into charitable programs that support better housing, health, and educational initiatives within fair-trade farming communities. 55 Although the New York location is the only café, the coffee brand is still distributed, with Keurig donating an undisclosed portion of Laughing Man proceeds to those causes (whereas Jackman donates all his profits). The company initially donated its profits to World Vision, the Christian humanitarian group Jackman accompanied in 2009. In 2017, it created the Laughing Man Foundation to be more active with its money management and distribution.

• You be the entrepreneur. If you were Jackman, would you have sold the company to Keurig? Why or why not?
• Would you have started the Laughing Man Foundation?
• What else can Jackman do to aid fair-trade practices for coffee growers?

What Can You Do?

Textbooks for change.

Founded in 2014, Textbooks for Change uses a cross-compensation model, in which one customer segment pays for a product or service, and the profit from that revenue is used to provide the same product or service to another, underserved segment. Textbooks for Change partners with student organizations to collect used college textbooks, some of which are re-sold while others are donated to students in need at underserved universities across the globe. The organization has reused or recycled 250,000 textbooks, providing 220,000 students with access through seven campus partners in East Africa. This B-corp social enterprise tackles a problem and offers a solution that is directly relevant to college students like yourself. Have you observed a problem on your college campus or other campuses that is not being served properly? Could it result in a social enterprise?

Work It Out

Franchisee set out.

A franchisee of East Coast Wings, a chain with dozens of restaurants in the United States, has decided to part ways with the chain. The new store will feature the same basic sports-bar-and-restaurant concept and serve the same basic foods: chicken wings, burgers, sandwiches, and the like. The new restaurant can’t rely on the same distributors and suppliers. A new business plan is needed.

• What steps should the new restaurant take to create a new business plan?
• Should it attempt to serve the same customers? Why or why not?

This New York Times video, “An Unlikely Business Plan,” describes entrepreneurial resurgence in Detroit, Michigan.

• 48 Chris Guillebeau. The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future . New York: Crown Business/Random House, 2012.
• 49 Jonathan Chan. “What These 4 Startup Case Studies Can Teach You about Failure.” Foundr.com . July 12, 2015. https://foundr.com/4-startup-case-studies-failure/
• 50 Amy Feldman. “Inventor of the Cut Buddy Paid YouTubers to Spark Sales. He Wasn’t Ready for a Video to Go Viral.” Forbes. February 15, 2017. https://www.forbes.com/sites/forbestreptalks/2017/02/15/inventor-of-the-cut-buddy-paid-youtubers-to-spark-sales-he-wasnt-ready-for-a-video-to-go-viral/#3eb540ce798a
• 51 Jennifer Post. “National Business Plan Competitions for Entrepreneurs.” Business News Daily . August 30, 2018. https://www.businessnewsdaily.com/6902-business-plan-competitions-entrepreneurs.html
• 52 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition . March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf
• 53 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition. March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf; Based on 2019 RBPC Competition Rules and Format April 4–6, 2019. https://rbpc.rice.edu/sites/g/files/bxs806/f/2019-RBPC-Competition-Rules%20-Format.pdf
• 54 Foodstart. http://foodstart.com
• 55 “Hugh Jackman Journey to Starting a Social Enterprise Coffee Company.” Giving Compass. April 8, 2018. https://givingcompass.org/article/hugh-jackman-journey-to-starting-a-social-enterprise-coffee-company/

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Access for free at https://openstax.org/books/entrepreneurship/pages/1-introduction

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Assignment on Business Management: Quick Guide

What is Business Management Assignment

College curriculums are loaded with unfamiliar subjects, and students often feel lost. The first assignments are usually the hardest to get done, and a little help would be nice. If you are a beginner facing this challenge and are asking all around 'what is business management' or how it differs from business administration, you have come to the right place. This quick guide will explain the basics of the management of business and will provide topics of business management essays.

To put it simply, business management is a process of planning, organizing, directing, and controlling the organizational resources to achieve the company's objectives. While business administration concentrates on the organization's day-to-day operations, business management focuses on the overall process.

Business management is vital for a successful business. A business manager's job is to make strategic decisions, allocate resources, hire the best employees, and ensure the company meets its business objectives.

A business management assignment helps students demonstrate their ability to apply theoretical knowledge to real scenarios and prepare them for future challenges. While the structure of the assignment is not foreign to experienced students, it covers a wide range of topics. It could involve operations management, financial and human resources management, organizational behavior, etc.

In the following chapters, you will find useful tips, a formal structure, and a general outline of a business management essay. Down below, there is a list of essay topics you could write a magnificent essay about. To clarify things, here is a business assignment sample essay. Our college essay writing services will provide a business essay crafted to meet the highest standards of your university.

How to Write a Business Assignment: Helpful Tips

Even though every essay structure and general outline resembles one another for each type, there are still many intricate details that you should consider when writing a business management assignment.

Let's move on to discuss constructing an impressive business paper without wasting time making mistakes. The following guide will save you the trouble of extensive research on how to polish an academic paper and help you reach the academic success you deserve.

If you don't have much free time on your hands, our exceptional custom essay writing service is also a great option. Let us know what is due, and we will deliver unforgettable reports on business management.

Choose Relevant Business Management Topics

Start by implementing a general to a specific approach. Think about the areas of your expertise and how it links with the business assignment. A topic you feel comfortable writing will help you construct a high-quality and meaningful research paper.

Writing about the topics of business you feel passionate about will make the process more engaging and enjoyable. Consider your audience, and make the topic meet their needs. This will help you write an informative and engaging paper. Be relevant. Stay up to date with trending topics of business management. Choose a topic about an important issue and provide new perspectives or even a solution. Filling in the existing gaps will help your essay stand out.

Narrowing down the scope is always a good idea. The specific topic will make your work more manageable and keep you focused. A broad topic is always difficult to cover, but narrowing it down too much can limit your research options. Thus, balance is the key!

Maintain Your Management Assignment Structure

Maintaining the structure of the assignment is crucial. Make sure to keep your ideas coherent and your essay easy to follow. Whether you are writing about international business management or organizational structure, the most important thing is simply communicating your ideas to the readers.

Start by following the course guideline. Make sure you understand every component. Usually, professors give out this kind of map to determine the structure, format, and length of the management of business assignments.

Before you start writing, create an outline. Organize your thoughts and ideas and stay on track. Use headings and subheadings to break up your assignment into sections. Start with a strong introduction and an easy-to-digest thesis statement. Follow it with comprehensive body paragraphs. Here you can provide your arguments, show other people's work, and communicate with the audience about the problems you've discovered. Use transitional sentences to connect your ideas and eventually to the bigger picture. Finally, write a powerful conclusion that ties everything up. Showcase your ability to link various arguments to one another.

Following our guidelines will bring clarity and coherence to your writing. Well-structured and easy-to-follow essays always get positive feedback from their readers.

Analyze Topics of Business, Don't Repeat

Analyzing business paper topics can get tricky, especially for beginners who have to develop their writing style. Chances are you will repeat the same argument several times to make it look more convincing. But answering the question 'what is business management' several times with different words will only make your paper look unprofessional.

It's tricky, but there are ways to avoid repeating the arguments. Do the prior research. Acquiring knowledge will expand your horizon, and you won't feel the need to repeat the same sentence couple of times. Create the general outline. Knowing the order of your essay elements will help you avoid restating the same information twice.

Besides the general outline, it's a good idea to list all the key points and prioritize them. This way, you will cover every important detail in your essay. Last but not least, consider alternative perspectives. If you incorporate opposing viewpoints, you will enrich the paper and show off your writing skill level.

Provide Rationale for Your Business Assignment

It is trivial, but for safety reasons, let's point out: an argument without supporting evidence is not valid. The same goes for the topics of business management essay. You must provide a rationale for every stage of the essay.

Being able to provide supporting evidence demonstrates strong research abilities. Writing a well-reasoned essay requires thorough research. Providing rationale and citing sources in the assignment shows that the writer has done their best. Besides looking professional, it will be easier to convince the reader about the credibility of your argument if they can see the reasoning behind it. If you can explain why you think what you think, it shows that you have considered opposing viewpoints. Critical thinking is one of the most important aspects of the writing process.

Writing essays about the management of business takes extensive research. If the deadline is too close and there is not enough time to master the art of writing, you can go to the website and check out our custom research papers writing service . Our team of professional writers is always here to help you.

Use Formal Language in Your Business Assignment

In business, academia, or any other professional setting, we use formal language. It strictly adheres to the rules of grammar, tone, and vocabulary.

Formal language helps to establish a professional tone in A management assignment which supports creating a positive impression on the reader. Using formal language also increases the clarity of the arguments. Formal language is more precise, which can help avoid ambiguity and confusion.

No matter which business management topic assignment you write, having a respectful relationship with your audience is crucial. Formal language and correctly chosen vocabulary can take you a long way. It shows respect to the reader and the topic also.

Thus, you must avoid using slang, vocabulary unsuitable for the audience, contractions, and other unprofessional language or tone forms. And if you are reading all these, you are thinking, 'why can't somebody else write an essay for me ,' visit our website, and your wish will become a reality in no time. Get top-notch essays tailored to your specific requirements.

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Business Management Topics

Mastering the art of constructing an impressive essay is only one-half of the job. First of all, you need an engaging topic. Our team has prepared a comprehensive list of business management topics to write about. From operations to business process management, explore a list of topics covering a wide range of fields, choose the one that excites you the most, and start implementing the freshly acquired knowledge.

International Business Management Topics

Our experienced writers have gathered the 20 most engaging topics about international business management. Explore the list and find the most attractive one:

• Exploring management concepts in international business
• Cross-cultural challenges in achieving Organizational goals
• The challenges of the first line managers in international organizations
• Key strategies for managing international business operations in an efficient and effective manner
• Maximizing international business success through effective human resource management strategies
• Navigating global business challenges through effective management of cultural intelligence
• Effective leadership strategies for international business management
• Cross-cultural communication as an essential part of international business management
• The link between happy employees and successful international business management
• Maximizing global business performance through effective staff managers
• Leveraging various resources for competitive advantage
• Understanding the universal phenomenon of cross-cultural communication challenges
• Foreign direct investment and risks for international businesses
• Sustainability in international business
• Challenges of corporate governance in international businesses
• The role of ethical leadership as an essential part of international business management
• Developing a high degree of cross-cultural competence
• Managing global value chains: integrating all the activities in international business management
• The importance of cultural awareness in international business management
• The role of self-confidence in international business management

Operations Management Assignment Topics

Below you will find the most relevant and moderns operations management assignment topics:

• Enhancing Organizational Performance through Effective Operations Management and Managerial Skills
• The role of organizational chart in effective operations management
• The impact of executive functions on operations management
• The role of operations management in achieving success at a shareholder meeting
• The importance of understanding human behavior in operations management
• Leveraging consumer insights based on market research
• Optimizing group dynamics in operations management
• Leadership and strategies of general managers in operations management
• Planning effectively: best practices for operations management
• Tools, techniques, and approaches for a good knowledge base in operations management
• How to manage an organization effectively: operations management strategies
• The role of operations management in organizational development
• Achieving efficiency and productivity through simple form and process
• The role of independent decision-making in operations management
• Management theories: How to plan effectively toward organizational success
• Optimizing human activities for the entire organization's success
• Streamlining operations management for a particular job: important strategies for effectiveness
• From plans decided to action implemented: the importance of effective operations management
• Provide guidance for upper management: strategies for leadership and direction
• Balancing technology and human beings for global success

Business Process Management Topics

Explore 20 more topics about business process management:

• Strategies for implementing effective business process management principles across the entire organization
• The role of human effort and organizational structure in achieving operational excellence
• How successful managers utilize basic principles for achieving operational excellence
• Interplay between management principles and executive function in driving business process
• Achieving synergy between top management and other employees for improved operational efficiency
• The crucial role of company leadership in aligning objectives and strengthening decision making
• A critical analysis of management theories: exploring the role of functional managers in achieving goals
• Optimizing the management process to achieve organizational goals
• Effective business process management consists of strategic allocation for company growth
• How to manage challenges created by leadership and top management
• Optimizing business process management through collaborative efforts between top managers and the best employees
• Crucial managerial skills: Optimizing processes through nurturing talent and celebrating human efforts
• The role of the functional manager in talent acquisition and optimizing human resource management
• Why business process management involves determining the journey, not just the destination
• Aligning employee decision-making with business objectives
• How process-centered leadership empowers organizations to manage change
• Process improvement through agile methodologies
• The evolution of process management thought
• The role of information technology in business process management
• The impact of business process management on customer satisfaction and retention

Additional Interesting Topics of Business

If you can choose from a wide range of topics, this list is for you. Impress your professor with an intriguing topic assignment:

• Measuring the ROI: Key metrics and techniques for demonstrating value to stakeholders
• Effective change management: how to implement and adapt
• Digital transformation in business management
• Strategies for handling and overcoming business crises
• Strategies for reducing environmental impact and promoting social responsibility
• Best practices and emerging trends for effective online branding
• Strategies for driving innovation and creating a culture of creativity
• Managing human resources in small business
• Strategies for managing cash flow, budgets, and investments
• The importance of market research and analysis for effective business management
• Using game mechanics to improve employee performance and engagement
• Strategies for effective time management and priorities in a busy workplace
• Strategies and tactics for successful business deals
• Emerging trends in remote work, automation, and AI
• Benefits and best practices for reducing stress and improving productivity
• Creating a workplace culture that fosters happy employees
• How understanding human behavior can inform business decision making
• Is servant leadership a new paradigm for effective business management?
• Techniques for handling uncertainty and complexity in an organization
• The role of entrepreneurial mindset and creativity in business success

Business Assignment Sample Essay

In the next section of the article, you will find a sample business management essay to help you understand how to structure and write a successful business assignment. Read through it carefully and take notes on the techniques used.

Further Academic Help

Are you struggling to come up with an assignment on management topic? Let us help you! Our online assignment writing service provides a comprehensive list of essay titles across various subjects to choose from, whether it's topics of business management or history assignment.

Don't stress yourself out; rely on our expertise to deliver outstanding results. Contact us today and take advantage of our reliable and affordable writing services.

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Annie Lambert

specializes in creating authoritative content on marketing, business, and finance, with a versatile ability to handle any essay type and dissertations. With a Master’s degree in Business Administration and a passion for social issues, her writing not only educates but also inspires action. On EssayPro blog, Annie delivers detailed guides and thought-provoking discussions on pressing economic and social topics. When not writing, she’s a guest speaker at various business seminars.

is an expert in nursing and healthcare, with a strong background in history, law, and literature. Holding advanced degrees in nursing and public health, his analytical approach and comprehensive knowledge help students navigate complex topics. On EssayPro blog, Adam provides insightful articles on everything from historical analysis to the intricacies of healthcare policies. In his downtime, he enjoys historical documentaries and volunteering at local clinics.

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Southwest to end open seating for 2026 flights, offer more legroom and red-eye bookings

Southwest airlines under pressure from activist investor elliott management.

Former Continental Airlines CEO reveals how cutting airfare boosted customer demand

'Flying for Peanuts' author Frank Lorenzo reveals what he has learned in the industry on 'The Claman Countdown.'

Southwest Airlines on Thursday announced changes to its longtime business model in the hopes of reversing turbulence from declining profits and a sinking stock price.

The Dallas-based carrier is pivoting from the so-called open seating model, charging a premium for the best seats, and offering red-eye flights, the airline said in a press release.

"We're now ushering in a new era at Southwest, moving swiftly and deliberately to transform the Company by elevating the Customer Experience, improving financial performance, and driving sustainable Shareholder value," said Bob Jordan, Southwest’s president, CEO and Vice Chairman of the Board, in a statement.

The airline described the overhaul as an "evolution" spurred by customer surveys about the changing needs and expectations of travelers.

SOUTHWEST AIRLINE'S BATTLE WITH ACTIVIST INVESTOR HEATS UP: ARE FREE BAGS ON THE CHOPPING BLOCK?

Southwest Airlines said most of its customers surveyed want to know their seat assignments instead of choosing among open seats as they board the plane. (Kevin Carter/Getty Images, File / Getty Images)

Southwest said that 80% of its customers surveyed want their seat assigned before arriving at the airport rather than picking a seat when they board. The airline expects to operate flights under this new model in the first half of 2026.

For travelers with a preference for extra legroom, Southwest said it will allow customers to purchase premium seating options while maintaining standard economy seating.

Southwest said that its "bags fly free" policy will remain unchanged. (Scott Eisen/Bloomberg via Getty Images / Getty Images)

Famous for its "bags fly free" policy, which allows customers two free checked bags, Southwest confirmed that there will be no changes to the popular feature.

"Extensive research reinforces Southwest's bags fly free policy  remains the most important feature by far in setting Southwest apart from other airlines," the company said.

Southwest hopes to boost profits with the announced changes. (Daniel Slim/AFP via Getty Images, File / Getty Images)

UNITED AIRLINES FLIGHT MANEUVER TO AVOID ANOTHER PLANE INJURES 2

Southwest said it expects to begin offering red-eye flights in "key markets" beginning in February 2025. The company did not specify which markets in the press release.

The changes come as the airline is facing pressure to boost profits from activist investor Elliott Management.

The carrier's chief operating officer, Andrew Watterson, notified workers in a Sept. 19 video that changes were coming to the company, Bloomberg reported, citing a transcript.

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"There are some difficult decisions coming as well," he also said, telling employees that "bigger changes for some cities" that were "not city closures" are coming.