Business

A business in an organisation that is an entity that is made up of an association of people who share a common goal and are united by their purpose and exploit their skills and resources to provide goods and/or services that are of human need.

A business must encompass
1) Classification based on its activity
2) Structure based on its legal entity
3) Planning to earn and use assets
4) Accountable for financial transactions
5) Strategy to achieve success
6) Feedback for change
7) Management for execution of the business
8) Insights to become the leader and the best

A business operation constitutes of
1) People
2) Product
3) Assets
4) Process
5) Economy

Any business must have well defined and formed policies and protocols for the people that elicits the culture of the business. The management must perfect the policies and protocols to well suit the needs of the business.

Operations

Operations involve the entire set of activities a business needs to perform to achieve its business goals, objectives, mission and vision. Operations comprise planning, procurement, product, process, sales. The entire sequence of process carried out to attain the business surrounds operations.

Business strategy is the methods the business adopts to achieve its business stakeholders. The people are the reason for the business. A business needs to create loyalty from the people in order to survive in the business. A business strategy involves planning its goals and to develop a perspective for its mission. A business needs to constantly evolve and innovate methods to achieve its business. A well-defined target helps the business to perform.

People

People are both an asset and a liability in this universe. People are the needs of the business, the goals of the business, the objective of the business, the aim of the business, the purpose of the business and the business itself if for the people. A business on the outset is to meet the needs of people. People are the inspiration for the business and its motivation. The business exists for the people. People are the holding responsibility of the business and the business should have a positive impact on the people. A business that is against the order of people is no business. A business is in itself a service as well as a product to the people. The people are the managers of the business, employees of the business and consumers of the business.

Metrics to analyse and evaluate people include advocacy and commitment. The stakeholders of the business must advocate the business. They must believe in the business and must strive to achieve what the business aims to. Some common questions to ask are – “Would you recommend the business to others?”, “Do you believe in the mission and vision of the business?”. The stakeholders of the business must be committed to its cause, mission and vision. The stakeholders must care for the business.

The people in the business must play an active participant and be dedicated and faithful to the business to achieve its mission and vision. The people in a business organisation involves the suppliers, vendors, employees, investors, customers, consumers, agents, distributors. These are the stakeholders of the business.