Operations is the work of managing the inner
workings of your business so it runs as efficiently as possible. Whether you
make products, sell products, or provide services, every small business owner
has 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 and
services, 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 and
services are produce. We study Operation
Management to understand
what operations managers do. We study Operation Management because it is such a costly part of an organization.
Operation Managers does: Continually learning
and adapting the organization to global and environmental changes, Creating
a high-performance workplace, Determining Schedules, Building quality into
goods, services, and processes, Exploiting technology to improve productivity, Helping
organizations to do more with less.
Operations management refers to the
administration of business practices to create the highest level of efficiency
possible within an organization. Operations management is concerned with converting materials and labor into
goods and services as efficiently as possible to maximize the profit of an
service jobs are closely related to operations like Financial services, Marketing
services, Accounting services, Information services. The benefits of effective Operations Management are: Continually improving performance factors, Reduced
inventory, Reduced time-to-market, Increased flexibility, Quality improvement,
managers 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.