Business Process

The entire process of starting and running a business through various approaches and fields is a business process. Business process includes various steps or phases through which the entire project or task is done. The steps are –

1- Initiation
Business plans, strategies and canvas is made. The canvas contains all the parameters and basis of business along with the objectives, aims and bottom line of the business. The projection based on time is also included in the canvas.

2- Funding and finances
The mode of investments, receiving of money and paying money to sellers for finished as well as raw materials, the expenses for the running of an organisation including budget plans and total project expenses are all included in finding and finances. Import and export of raw materials are also involved.

3- Business management
The proper and clear running and audit of the business starting from finance to human resources and from project management to product/service management are all paerts of business management. The legal papers, audit and accounts also play a major role in this phase. Organisational hierarchy and management and board of directors’ selection is a major part.

4- Profits and shares
Assessment of the channels from where profits are received and the shares are received. Graphs and projections are analysed for checking the breakeven points. Improvement points for making it a profitable company with no liabilities is centred as the aim. Insurances and assets are focussed on. Generating funds regularly also makes a valid point in this phase.

5- Development
Development and research come when initial stages are established and one has to expand the business. Multiplying resources and outlets is one of the efficient ways and acquisition of worthy talents with revolutionising ideas and adding values to the work etc. are involved in the development phase.