What Are the Top Ten Core Business Processes?
While many businesses have shifted their store from a physical one to online in hopes of grabbing a large audience’s attention, in any organization there exists a common set of core business processes that must exist for the organization to function properly. Small organizations start with a small set of five Core Business Processes, that are the critical business processes to every business, and then grow from there.
First Core Business Processes
Every organization needs a sales and marketing function. Even non profits, governments and hospitals must identify their customers, manage the relationships, and deliver a good or service in exchange for funds.
Once you have cash coming in you must account for that cash and complete your tax return, which means you need accounting policies and procedures . Accounting operates on technology, so in a small company a technology process often time is part of accounting (unless you are a technology company and then it is part of product development).
Product or Service Delivery Process
Next comes your product or service delivery process that you collected money for. You have to deliver it and deliver it well, with a quality process, or else you won’t get more money from your customers in the future.
A business must hire employees, manage the operation, and finance the ups and downs. And lastly, you have to have a product development process to design products for your customers.
Five Core Processes for Small Business
After selling and delivering your product or service, you have to account for it, pay your taxes, and ensure compliance with government standards, laws, and regulations. That means accounting, quality, human resources (HR), maybe finance, and product development.
So what are the Five Core Processes for Small Business?
- sales and marketing
- Accounting & Technology
- Quality & Product/Service Delivery
- Management, HR & Finance
- Product Development
Ten Core Business Processes
A small business is pretty simple, until you start to grow. Growth introduces new complexities that require more employees and more focus. The five core processes for a small business quickly grow to the ten core processes for business.
That is, each of the core small business processes splits into two and now sales and marketing are separate processes, same with accounting, technology, quality and product delivery.
We now have identified the Ten Core Business Processes:
- Customer Strategy & Relationships (Marketing)
- Employee Development & Satisfaction (Human Resources)
- Quality, Process Improvement & Change Management
- Financial Analysis, Reporting, & Capital Management
- Management Responsibility
- Customer Acquisition (Sales)
- Product Development
- Product and Service Delivery
- Accounting Management
- Technology Management (Computer & IT)
Examples of Business Processes
As an organization grows even bigger it will add more sub-processes or perhaps additional core process like supplier management, strategy, or legal & compliance. There are hundreds of sub-processes that are created and when you get to that point then you are ready for a set of policy and procedure manuals.
Download Free Policies and Procedures to see hundreds of example business processes and how easy it is to edit MS Word Templates to build your own policy and procedure management system.
I posed the question to ChatGPT about the 10 most common core processes for any business and this is what it provided:
The 10 most common core processes for any business are:
1. Sales and marketing: This process involves identifying and reaching out to potential customers, understanding their needs, and promoting products or services to meet those needs. It also involves developing and maintaining relationships with customers to encourage repeat business and referrals.
2. Product or service development: This process involves researching, designing, and developing products or services to meet the needs and preferences of customers.
3. Operations: This process involves the day-to-day activities required to deliver products or services to customers, including production, distribution, and delivery.
4. Customer service: This process involves providing support and assistance to customers before, during, and after the purchase of products or services. It includes resolving complaints, handling returns and exchanges, and maintaining customer satisfaction.
5. Finance: This process involves managing the financial resources of the business, including budgeting, accounting, financial reporting, and cash flow management.
6. Human resources: This process involves managing the people who work for the business, including recruitment, training, compensation, and employee relations.
7. Information technology: This process involves managing and maintaining the technology infrastructure of the business, including hardware, software, and networks.
8. Procurement and supply chain management: This process involves identifying and sourcing the materials, products, and services required to run the business, as well as managing the logistics and supply chain operations.
9. Quality assurance and control: This process involves ensuring that products or services meet the quality standards and requirements of customers, as well as regulatory and legal requirements.
10. Strategic planning and management: This process involves setting goals and objectives for the business, developing strategies to achieve those goals, and monitoring and adjusting the strategies over time to ensure continued success.
Thanks for the article. Business process is extremely important for any small business. If you cannot work out your business process it is going to be hard to scale your business through your team. Having a business process manual is going to help you dramatically create appropriate business process.
Nice post @bizmanualz, at Loqualist we digitalize Quality & Process management, and help SMB to optimize their core business by automatizing their purchasing process & spend management !
Nice blog, at GoodFlow most of the process you mentioned can be manged and tracked properly.
Nice blog, thanks for sharing
Please i needed to know the current business process we have ,and the additional process we require,this piece is intresting kudos