The outcome of business operations is the harvest in terms of value from the assets owned by a business. An example of value derived from a physical asset, like a building is rent. An example of value derived from an intangible asset, like an idea is a royalty. The effort involved in “harvesting” this value is what constitutes business operations cycles.
Business operation encompasses three fundamental management imperatives that collectively aim to maximize value harvested from business assets:
1. Generate recurring income
2. Increase the value of the business assets
3. Secure the income and value of the business
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