The Relevant Range Of Operations And The Sphere Of Business Arrangements Of The Organization

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TOPIC 1 - CLARIFY THE SCOPE OF OPERATIONS IDENTIFY AND REVIEW THE RELEVANT RANGE OF OPERATIONS AND THE SPHERE OF BUSINESS ARRANGEMENTS OF THE ORGANISATION CONDUCT AN ANALYSIS OF THE OPERATIONS AND BUSINESS ARRANGEMENTS OF THE ORGANISATION AND IDENTIFY THE FUNCTIONS, PRODUCTS AND SERVICES THAT MAY BE SUBJECT TO COMPLIANCE REQUIREMENTS After joining an organisation, it can often be challenging to learn everything you need to know to be successful. Business and industry knowledge can grow over time, but there is often basic knowledge to be successful in a project. Here are some basic questions to ask and answer in order to get basic understanding of how a business works: • Who is the customer? • What is the product? • What is the sales…show more content…
Another useful method to put everything in context is to develop a narrative or visual model identifying the customers, products, and supporting processes. Learning is a never-ending process, be it learning new skills or learning more about a new business domain. Gradually, you will gain more knowledge about the business and as and when you are assigned to projects, you can always get more details and discover the specific business needs driving the initiative and key objectives to be delivered by the project. BUSINESS FUNCTIONS The functions of business are mainly categorised into three groups: • Internal functions of business, which is the foundation of the business • External functions of business, facilitates promoting products • Support functions of business, continuously help internal and external functions These three function groups are categorised based on their fundamental and immediate functions required to carry on the primary and ancillary (supportive) business processes. These three groups cannot operate independently, as they are interdependent for execution of their respective tasks or

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