Unit 4: Management and Operations
Title: (A1 of 2 Leadership and Management Concepts)
(Assignment-2)
BTEC Level-4 Diploma in Business Management
Assessor- Daw May Win Kyaw
Student Name- Eaint Thet Phoo
ID-L6020013B
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Guidelines and tips
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community
Ask the community for help and clear up your study doubts
University Rankings
Discover the best universities in your country according to Docsity users
Free resources
Our save-the-student-ebooks!
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
Operations Management: Just-in-Time, Six Sigma, and Total Quality Management, Assignments of Business Accounting
An overview of operations management, focusing on key approaches such as Just-in-Time (JIT), Six Sigma, and Total Quality Management (TQM). the importance of operations management, its multidisciplinary nature, and its role in maximizing efficiency within organizations. It also covers the functions of managers and leaders, as well as the impact of the business environment on operational management and decision-making.
What you will learn
- What is the goal of Six Sigma in operations management?
- What is Total Quality Management (TQM) and how does it contribute to organizational success?
- How do marketing and purchasing functions collaborate in operations management?
- What is operations management and why is it important?
- How does Just-in-Time (JIT) inventory system work?
Typology: Assignments
2020/2021
1 / 16
This page cannot be seen from the preview
Don't miss anything!
Often downloaded together
Related documents
Partial preview of the text
Download Operations Management: Just-in-Time, Six Sigma, and Total Quality Management and more Assignments Business Accounting in PDF only on Docsity!
Unit 4: Management and Operations
Title: (A1 of 2 Leadership and Management Concepts)
(Assignment-2)
BTEC Level-4 Diploma in Business Management
Assessor- Daw May Win Kyaw
Student Name- Eaint Thet Phoo
ID-L6020013B
Table of contents
Introduction
Operation Management (^) Operations management is the administration of business practices to create the highest level of efficiency possible within an organization. (^) Operation Management is a field that can sometimes be misunderstood because of its multidisciplinary nature. However, its functions form the lynchpin of businesses the world over and success can often rest squarely on its shoulders. (^) Operation management is a field of business concerned with the administration of business practices to maximize efficiency within an organization.
The key approaches to operations management
and the role of leaders and managers
Six Sigma (^) Six Sigma streamlines quality control in an effort to improve current processes, products or services. Six Sigma is a quality-control process that businesses used to eliminate defects and improve processes. (^) Six Sigma is a quality management methodology used to help businesses improve current processes, products or services by discovering and eliminating defects. The goal is to streamline quality control in manufacturing or business processes so there is little to no variance throughout.
The key approaches to operations management and the role of leaders and managers Total quality management(TQM) (^) Total Quality Management (TQM) is a management framework based on the belief that an organization can build long-term success by having all its members, from low-level workers to its highest ranking executives, focus on improving quality and, thus, delivering customer satisfaction. (^) TQM requires organizations to focus on continuous improvement, or kaizen. It focuses on process improvements over the long term, rather than simply emphasizing short-term financial gains.
The core operations function and other support functions of an organization interludes (^) Marketing : Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affiliates on behalf of a company. (^) Financing : Financing is the process of providing funds for business activities, making purchases, or investing. Financial institutions, such as banks, are in the business of providing capital to businesses, consumers, and investors to help them achieve their goals. (^) What is Finanicng? (^) Finance is a broad term that describes activities associated with banking, leverage or debt, credit, capital markets, money, and investments. Basically, finance represents money management and the process of acquiring needed funds.
The core operations function and other support functions of an organization interludes (^) Marketing and purchasing function (^) Marketing and purchasing people constantly act together in relation to a unique perspective that is to link suppliers and customers. As a consequence they act as solution providers both on the downstream and the upstream contexts for their efficiently, but mostly effective coordination.
Business environment that impact upon operational management and decision-marking environment (^) Customers : A customer is an individual or business that purchases another company's goods or services. Customers are important because they drive revenues; without them, businesses cannot continue to exist. (^) Suppliers : Suppliers can control the success of the business when they hold power. (^) Stakeholders : Typical stakeholders are investors, employees, customers, suppliers, communities, governments, or trade associations. An entity's stakeholders can be both internal or external to the organization.
Business environment that impact upon operational management and decision-marking environment (^) Social (^) Enviromantal (^) Economic