Operations

December 4th, 2010 Home Assignment- MMS 1, trading operations Management Note: You atomic number 18 expected to write answers to the point and in brief. 1. What is the importance of Operations Management in any business organisation? autonomic nervous system: Operations management is an ara of business implicated with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient in terms of using as little resource as needed, and effective in terms of meeting customer requirements. It is concerned with managing the process that converts inputs (in the forms of materials, labor and energy) into outputs (in the form of goods and services). 2. What major functions of any organisations are directly involved under Operations Management? autonomic nervous system: Product, Process, Facilities, layout, Planning, Scheduling, Materials, HR 3. What do you understand by scheme? Ans: Strategy is a set of goals and policies designed to achieve a sustainable competitive advantage by creation of unique and precious position.

Strategy frameworks are essential to: - Break down spinal column assumptions - Reduce uncertainty in the market place - Integrate and rallying the firm - Determination of Profitability The Fundamental unit of strategic analysis is the industry Company economic performance is result of cardinal distinct causes - Overall rules of competition - Sources of competitive adv. Strategy must deal both 4. What are major sources of Competitive Advantage, an organisation whitethorn look at? Ans: Sources of Competitive Advantage - Core competencies - item factor that a business sees as being underlying to the way it, or its employees, works - Critical Resources - resource that can scarce be in use by at approximately one process at any one time - find out Success Factors Ultimate purpose is to focus on organizations resources, capabilities & energies on building a... If you want to get a full essay, devote it on our website: Orderessay

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