Operations is the work of managing the innerworkings of your business so it runs as efficiently as possible. Whether youmake products, sell products, or provide services, every small business ownerhas to oversee the design and management of behind-the-scenes work. Operation Management is the design, execution,and control of operations that convert resources into desired goods andservices, and implement a company’s business strategy. Operation Management is one of the three major functions of any organization,and its integrally related to all the other business functions. We study Operation Management because we want to know how goods andservices are produce.
We study OperationManagement to understandwhat operations managers do. We study Operation Management because it is such a costly part of an organization.Operation Managers does: Continually learningand adapting the organization to global and environmental changes, Creatinga high-performance workplace, Determining Schedules, Building quality intogoods, services, and processes, Exploiting technology to improve productivity, Helpingorganizations to do more with less.Operations management refers to theadministration of business practices to create the highest level of efficiencypossible within an organization. Operations management is concerned with converting materials and labor intogoods and services as efficiently as possible to maximize the profit of anorganization.Manyservice jobs are closely related to operations like Financial services, Marketingservices, Accounting services, Information services.
The benefits of effective Operations Management are: Continually improving performance factors, Reducedinventory, Reduced time-to-market, Increased flexibility, Quality improvement,etc. Operationsmanagers play a leading role in managing both raw materials and personnel. There are four functions of management that span across all industries. They include: planning, organizing, leading, and controlling.