From the course: Developing Business Acumen
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Know your operations
- Your operations drive the performance of your business. The way your operations are set up drives your cost structure. Your operations dictate how you hire personnel. Your operations determine what technology you need. They drive your budget and your vendor management. All your functions are driven off of your operating model. The better you know your product or service operating model the easier it is for you to find opportunities to improve it. Ask yourself a few questions about your operations. How do your operations run? How are they organized? Is it centralized or distributed manufacturing? What's your supply chain like? How are you getting raw materials into your operations and how do you get your raw materials and finished goods out of your factories and out to your customer? Do you go to them, do they come to you? Do you deliver your products through distribution? A couple of examples of organizations I've worked with one includes a services business. We had a distributed…
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