Business Operations and Risk Management

One of the operations techniques that stand out to me is record keeping for inventory control, and as for one of the risk management techniques that stood out to me, it would be the risk of employee theft. Proper inventory control through strong record keeping and ongoing risk management of employee theft are not only foundational needs for small businesses, they also highlight biblical values integrity, and Christians in business are called to treat resources with care, and be an ethical leader.

The benefits of record-keeping hinge on decision-making and stock-taking. Small businesses should not look down on record-keeping as part of running their businesses since proper record-keeping for small business is essential for business owners to effectively run of their businesses (Bannerman, J. et al., 2023). Proper recordkeeping helps tracks inventory levels, purchases and sales. Its purpose would be to help reconcile financial statements with actual stock, protecting against low inventory or having an excess of inventory, making record keeping an essential operations technique to have in place. There is a positive relationship between financial record keeping together with small businesses. Changes in the record keeping can affect the financial performance of small businesses, and it is essential to carry out proper record keeping to ensure proper business performance (Damascene, U. J. et al., 2025). Effective systems include automated software, and using bar-codes to scan. Record keeping can become even more essential when margins are tight, and the risks associated with failure to maintain inventory increase when sales volume suddenly increases or decreases. Hence, having a proper record keeping implemented in ones business operations can help the business be guarded against inventory errors, and identify business needs early on.