BOP - Business Operations Overview

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Business Operations Overview

Introduction

After you develop your business idea and figure out how you are going to create your business then you will actually start your business. There’s a lot that goes into the day-to-day operations of a business. In this module you will learn how to develop your company’s goals, mission and vision that will guide all of your decisions. Then you will develop a logo for your business, develop a slogan and learn about the importance of your company’s online presence.

When developing and selling products businesses have to take into consideration the quality of the product. If there is a defect or if there aren’t appropriate warnings the company could be held liable.

To operate a business you need policies to help the business run smoothly. Policies help the owner and employees know what to do in various situations that arise. 

Key Terms

Code of Conduct – A policy that outlines expectations of companies

Design defects – Product designs that have defects that cause them to be dangerous

Grievance – A method employees use to file complaints in a workplace

Logo – A graphical representation of a business

Long-term Goals – Goals that are going to be reached in over 1 year

Manufacturing defects – Products that have defects caused in the manufacturing process

Medium-term Goals – Goals that are going to be reached in 1 month to 1 year

Mission Statement – A declaration of the purpose of the company

OSHA – Occupational Safety & Health Administration – Federal agency that regulates safety in companies

Performance evaluation – A method of measuring employee performance

Product liability – Laws that protect consumers from defective or dangerous products

SEO – Search Engine Optimization – A method of making sure your website is found on browsers

Short-term Goals - Goals that are going to be reached in less than a month

Slogan – A short, catchy phrase that identifies the business

SMART Goals – Goals that are specific, measurable, attainable, realistic and timely

Vision – A broad statement of what the company wants to become in the future

Warning defects – When a product doesn’t carry appropriate warnings of danger

Module Lessons Preview

In this module, we will study the following topics:

  • Goals, Mission, and Vision
  • Logos, Slogans, and Online Presence
  • Company Policies

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