Summary

Summary Enumerate Operations Management

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Course
Business Studies

Institution
MacEwan University ( )

Subtopics includes: What is Operations Management? The purpose of operational management, Decisions on strategic versus tactical operations, Ideal Skills of an Operations Manager, Marketing Management ,

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Uploaded on July 6, 2022
Number of pages 28
Written in 2020/2021
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What is Operations Management?

Operational management is a topic of large companies dealing with the

management of large business practices to extend execution within an

organization. It includes organizing, sorting and managing the organization's

procedures to reach trustworthy agreements and costs and obtain the absolute best

obtainable business advantage. An operations manager must ensure that the

organization accurately converts inputs, including materials, labor and age, into

revenue in an environmentally friendly way.

The purpose of operational management

The logic of controlling operations is to extend execution, even if objects and

contributions are created that effectively meet the needs of supporters.

Endless business choices need to be made, each of which has a long and short time

span that affects the organization's ability to do things and contribute things that

interact with customers. When the organization as a whole has made wise

workforce choices in planning and executing its change engine to meet customer

desires, its true capacity for long-term endurance will be greatly enhanced. For

example, assuming a company manufactures devices, some of the activity

monitoring options include the following:

,• Purchase of wood and fabrics,

• recruitment and training of workers,

• area and format of the furniture factory,

• Purchase cutting equipment and various manufacturing equipment.

If the company makes appropriate operational choices, it will be able to produce

affordable, functional and attractive home furnishings that customers will buy at a

price that will allow them to generate profits for the company.

The role of operations management within the organization

Operations are part of the 3 strategic skills of any company. This method is by far a

crucial element in implementing the company's approach and ensuring its

sustainability. The different areas of strategic importance for the company are

advertising and finance. The operational approach should guide the overall

business approach. Many organizations have put together a 5-12 month seasoned

formula to help with their operational planning. The seasoned form uses external

facts and modern monetary explanations, so you can expect fate including sales

and capital investments.

Decisions on strategic versus tactical operations

, Operational selections consist of selections that may be strategic in nature,

meaning they have long-term effects and regularly include a huge amount of

clearing and assistance obligations.

Strategic transaction decisions include the following:

• decisions on the location of the facility,

• the type of technologies that the organization will use,

• determine how work and equipment are organized,

• How much capacity the organization will provide in the long run to meet

customer demand. Tactical operational decisions have short and medium term

impacts on the organization, often require fewer resources and are more easily

modified than strategic decisions. Here are some tactical choices:

• human resources planning,

• Definition of quality assurance procedures,

• Conclusion of contracts with service providers,

• Inventory management.

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