Organising a business can be complex, but by categorising using fundamentals of a business, and subcategorising different aspects, it can be easier to manage and ensure that all areas are functioning effectively.
This suggested framework, which we have been using for the last five years, not only helps us keep track of everything, but also gives us an eagle eye over the entire business, making it easier to manage and understand in more depth.
Where all study and research and strategising about all the other sectors happens.
Covers the various aspects of managing a business's operations, including supply chain management, quality control, inventory management, human resources, and technology and IT management.
Involves managing the financial resources of the company. It is an important aspect of business management as it ensures financial stability, compliance with financial laws and regulations, and transparency and accountability through financial reporting.
The Finance category is an important aspect of business management, as it involves managing the financial resources of the company. It includes various subcategories such as accounting, budgeting, taxation, investment, and financial reporting.
Marketing and sales are essential components of a business's overall strategy and planning. They help a business to understand its target market, customer needs, and competition, and to develop effective marketing and sales strategies to promote its products and services.
Ensures compliance with legal and regulatory requirements. By ensuring that a business complies with legal and regulatory requirements, it can avoid legal disputes and penalties that can be damaging to the business.
It is true above framework doesn’t fit all businesses, however the goal is to approach the business with fundamental principles, so you can have an eagle eye over the entire operation of your business.
By categorising and subcategorising the different aspects of a business in this manner, it becomes easier to understand the different components and ensure that they are working together effectively.