managers continually review operational processes B u s i n e s s F i n a n c e
Consider all of the possibilities in regard to operations management. For example, a married couple is opening a new restaurant and are deciding where to place the bar, decorate the dining room, and install the dishwashing machine so that the kitchen can operate efficiently. A young entrepreneur has seen immense growth within his company that began in the community and spread across the country, and now the company is about to launch in 5 other countries. A distribution manager is estimating how many shipments will be sent out for the month in order to ensure there are enough workers and transportation vehicles available to meet the demand. The role of operations management, as well as the strategies and decision making connected to it, can be felt in nearly every aspect of a business. Managers continually review operational processes in order to cut costs, improve quality, and help their businesses grow.
In this Assignment, you will have the chance to apply the concepts of operations management and decision making to real-world examples in order to help you understand the impact and functions involved with operations management processes.
To prepare for this Assignment:
- Review this week’s Learning Resources on operations.
- Choose a company with which you are familiar to analyze its operational strategy.
Submit your responses to the following prompts.
- Which factors affect the decision-making process for a goods-based organization? Which factors affect the decision-making process for a service-based organization? (150 words, or 2 paragraphs)
- Explain the decisions operations managers make and give at least one example. (75–150 words, or 1–2 paragraphs)
- Describe what the transformation process is for one of the following business organizations: an advertising agency or a bank. Highlight the inputs, outputs, and value created during the transformation process. (75–150words, or 1–2 paragraphs)
- Identify and describe a company you have a working knowledge of. Review the company’s operations management functions and identify strengths and areas for improvement in the process. (150–225 words, or 2–3 paragraphs)
- Describe strategic and tactical decisions and provide a real-world example of how each type of decision would be applied in a business context. (75–150 words, or 1–2 paragraphs)
- As organizations expand into global/foreign markets, they may encounter issues within their operations management. Describe the types of issues that may arise. (75–150 words, or 1–2 paragraphs)
Note: For each prompt, be sure to reference at least one scholarly source to support your answer.