Business operations teams play a critical role in the success and growth of both big companies and small startups. While the specific responsibilities may vary based on the organization’s size, industry, and structure, these teams are generally responsible for various functions aimed at optimizing operations, driving efficiency, and supporting strategic goals.
Let’s explore the role of business operations teams in greater detail for both big companies and small startups.
Biz Ops in Big Companies
Within large organizations business operations teams perform seven main functions.
1. Strategic Planning
Business operations teams collaborate closely with senior management to define the company’s overall strategic goals and objectives. They contribute to the development of long-term plans, identify growth opportunities, and align operational activities with the strategic vision of the organization.
2. Process Improvement
One of the key functions of business operations teams in big companies is to analyze existing business processes and identify areas for improvement. They conduct thorough evaluations of workflows, identify bottlenecks, eliminate inefficiencies, and implement changes to enhance productivity and reduce costs.
3. Performance Measurement
Business operations teams establish key performance indicators (KPIs) to measure the company’s performance across various functions. They collect and analyze data, track progress, identify trends, and provide insights to support data-driven decision-making at both strategic and operational levels.
4. Project Management
Large companies typically have numerous projects running simultaneously, ranging from product launches to process optimization initiatives. Business operations teams can oversee project planning, resource allocation, timelines, and coordination across departments to ensure successful project execution and delivery.
5. Cross-functional Collaboration
In large companies where teams can become siloed within departments that don’t communicate effectively with the rest of the organization, business operations teams can act as a liaison between different departments. They facilitate communication, foster collaboration, and ensure alignment among teams to maximize efficiency and effectiveness.
6. Vendor Management
Managing relationships with external vendors and suppliers is crucial for big companies. Business operations teams can handle vendor selection, negotiate contracts, assess vendor performance, and maintain effective partnerships to ensure the timely delivery of goods and services. They can also monitor vendor compliance and manage any associated risks.
7. Change Management
Big companies often undergo significant organizational changes such as mergers, acquisitions, or restructuring. Business operations teams can play a vital role in managing these changes by developing change management strategies, facilitating communication, and ensuring a smooth transition for employees and stakeholders.
Biz Ops in Small Startups
Within small startups business operations teams can also play an important role, performing six main functions.
1. Operations Strategy
Business operations teams in startups can contribute to defining the overall operations strategy aligned with the company’s vision and goals. In this role, they collaborate with founders and senior management to develop scalable processes and systems that support growth, optimize resource allocation, and drive operational efficiency.
2. Resource Allocation
Startups typically have limited resources, including financial, human, and technological resources. Business operations can help to allocate these resources effectively by prioritizing initiatives, managing budgets, and ensuring that resources are optimally utilized to achieve business objectives.
3. Scalability Planning
Startups aspire to grow rapidly, and business operations teams can take responsibility for planning for scalability. They can assess current processes, anticipate future needs, and implement scalable solutions to accommodate increasing demand and operational complexity.
4. Compliance and Legal Matters
Startups must comply with applicable laws, regulations, and industry standards. Business operations teams can ensure legal and regulatory compliance by staying updated on requirements, implementing necessary procedures, and mitigating potential risks associated with compliance and legal matters.
5. Technology and Systems
Startups often leverage technology and systems to optimize operations and improve efficiency. Business operations teams can identify and implement appropriate tools, software, and systems to streamline processes, automate tasks, and enhance productivity across the organization.
6. Continuous Improvement
Startups operate in dynamic and fast-paced environments, and business operations teams can take responsibility for driving continuous improvement. They regularly evaluate operational performance, gather feedback, identify areas for enhancement, and implement iterative changes to refine processes and achieve operational excellence.
The bottom line
Whether in big companies or small startups, business operations associates wear a lot of hats and play an important role in solving problems that can prevent an organization from operating efficiently and effectively. This can range from refining the overall strategy and streamlining operations to developing scalable processes and driving continuous improvement. If you are interested in collaborative teams that face a multitude of challenges, this might be an area that interests you.
Zuhair Imaduddin is an Innovation Development Analyst at JPMorgan Chase. He studied Industrial and Labor Relations at Cornell University. Zuhair is interested in leveraging technology to solve problems.
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