Business Essentials
Essential Business Functions:
1. Marketing and Sales:– Market research and customer targeting- Product development and pricing- Sales and customer service
2. Operations:– Supply chain management- Production and manufacturing- Logistics and distribution
3. Finance and Accounting:– Financial planning and budgeting- Accounting and financial reporting- Cash flow management
4. Human Resources:– Recruiting and onboarding- Employee training and development- Performance management
5. Information Technology:– Systems management- Network infrastructure- Cybersecurity
6. Legal and Compliance:– Contracts and agreements- Intellectual property protection- Regulatory compliance
7. Customer Service:– Customer support and complaint resolution- Service quality management- Relationship building
8. Corporate Social Responsibility:– Environmental sustainability- Social community engagement- Ethical practices
Other Key Business Essentials:
– Legal Structure: Choosing the appropriate legal structure for your business, such as sole proprietorship, partnership, LLC, or corporation.– Business Plan: Creating a roadmap for your business, outlining your goals, strategies, and financial projections.– Financing: securing funding through equity, debt, or other sources.– Marketing Strategy: Developing a plan to reach your target audience and generate leads.– Customer Acquisition: Strategies for attracting and retaining customers.– Competitive Analysis: Studying your competitors to identify strengths and weaknesses.– Continuous Improvement: Embracing a culture of continuous improvement and growth.
Additional Resources:
