The day of a business owner consists of decisions that impact daily productivity and company

growth. To help run the company more efficiently, the company owner puts together policies and
programs that address basic business activities. These comprehensive guidelines make it possible
for all employees to understand how to carry out basic business tasks and allow the company to
operate more efficiently. Identifying basic business activities makes business planning easier.

Crafting a Budget

Every company creates a budget that dictates how revenue is utilized in daily operations and in
the pursuit of future growth. Each department manager gives input on the costs of ongoing
operations, and then a budget is created that allows the company to track all spending and
revenue. The budget from the previous year is compared to that year's actual results to create a
guideline for creating the next year's spending plan.

Accounting Operations and Management

Accounting is the process of managing the flow of money in and out of the company. Areas that
come under the accounting group are accounts payable, accounts receivable, payroll, customer
credit accounts, collections and tax accounting. Accounting reporting is responsible for annual
tax filings, monitoring company costs and maintaining financial relationships with vendors and
customers.

Marketing Plans and Brand Recognition

Marketing helps to develop company and brand recognition in the marketplace as well as
develop advertising pieces that the buying public would see. The marketing group develops
comprehensive marketing plans that use sales projections to help determine the best way to use
company resources to gain more exposure for the organization and its products.

Growing Sales and Building Relationships

Sales are the group that maintains direct contact with the customer base. The sales group reaches
out to prospects to help expand the customer base while also maintaining relationships with
existing clients to secure repeat sales. The sales force is skilled at matching up company
solutions with customer needs to create product demand.

Hiring Qualified Employees

The human resources aspect of an organization is important to maintaining current operations as

well as planning for future expansion. A company needs to actively search out qualified
candidates whose qualifications match current available positions, or who can be kept available
should a personnel need arise.

Customer Service and Preserving Relationships

Customer service maintains corporate revenue by resolving customer issues and preserving the
buying relationship. The customer service group does not proactively seek to expand the
company's revenue base by providing solutions to customers. Proactive customer interaction is
reserved for the sales group. The customer service department is who the customer calls when
they have a shipping, product or billing issue.