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Full summary of the Business Operations course
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Summary of the Business Operations course taught in the 1st year Business Administration programme.
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MNP2601 ASSIGNMENT 5 SEMESTER 1 2024
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Summary Operations Management chapter 1-18
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Operations management summary H2 process strategy and analysis
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Business OperationsWeekly workload:
Lecture
Take notes on the literature/summaries
Operation management, performance and
strategy - Ch1
machines to assemble product
people to create services to address client needs
knowledge to diagnose conditions to treat real and perceived patient concerns
resources to speedily provide supplies and services
Operations input resources and outputs
Business Operations 1
, 3 core functions of any organization:
Marketing - create demand
Product/service development - meet customer needs by innovations etc
Operations - fulfill customer needs
2 supprot:
Accounting/finance
HR
Operation as a function - part of the organization which creates and delivers
products/services for the external customers
Operation as an activity - management of the processes within any of the
organization’s function
Typology of operations and processes
Volume
implications of low and high volume in operations and processes
Business Operations 2
, HIGH Unit costs LOW Unit costs
Variety
HIGH Unit costs LOW Unit
costs
Variations in demand
HIGH Unit Costs LOW
Unit costs
Visibility
visibility of the processes
Business Operations 3
, HIGH Unit costs LOW
Unit costs
Operation Performance - Ch2
“make or break” activity
it can reduce costs by being efficient
reduce the risk of operational failure
increase capacity
Corporate social responsibility (CSR)
operations should take into account their impact on stakeholders
effective operation management can
reduce the costs of producing products/services
provide basis for future innovation
increase revenues
making efficient use of capital
reduce business failure
Triple bottom line
Business Operations 4
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