Operations Management and Business Success

This assignment delves into the crucial role of operations management in driving organizational success. It examines how strategic operations activities contribute to increased profitability, enhanced employee morale, and a positive market position. The report analyzes various aspects of operations management, including its impact on customer satisfaction, competitive advantage, and overall business performance.

How Business
Operate

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK1.............................................................................................................................................1
P1.1 Type of business on the basis of private and public...........................................................1
P1.2 Different structures of several kind of business..................................................................1
P1.3 Explain impact of local, national and international economic environment on ASDA......2
TASK2.............................................................................................................................................3
P2.1 Explain the importance of accounting................................................................................3
P5.1 Explain different function of HR department.....................................................................3
P5.2 Key features of workers legislation ...................................................................................3
TASK3.............................................................................................................................................4
P3.1 Information and interpretation of profit and loss account..................................................4
TASK 4 ...........................................................................................................................................4
P4.1 Analysis own and other role with in team..........................................................................4
P4.2 Make team development plan for future training events....................................................5
TASK5.............................................................................................................................................6
P6.1Impact of customer's services on business success..............................................................6
P6.2Benefits of customer service................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Business operation is a one of the most important activities for an organisation in order to
achieve goals and objectives in an appropriate ways in limited period of time. There are various
kind of internal as well as external elements which create positive, negative affect on firm
performance or productivity, so that it is a management responsibilities to manage these all
factor in an effective manner (Adjei and et. al., 2014). With in the company several operations
activities are done like input, output, process, inventory and many more. In this report select
ASDA company to know impact of enterprises operation task on their performance. It is a British
international retail firm located in United Kingdom. In this assignment covers classification of
enterprises and their structures. It also includes importance of accounting as well as function of
human resources department and many more.
TASK1
P1.1 Type of business on the basis of private and public
With in a nation business are divided by mostly two kind private as well as public.
Private organisation are own by persons and its share are not distributed in whole society and
government. Both authorities body of nation and here living person can not any right on this kind
of company. But in public sector firm has offer their share in market as well as government are
also invest some money into it for whole public interest. Further, divided these two kind of
business with respect to operational scale state, national and international level. In each one of
stage profitability as well as operations task is change due to work load. Most of the company
want to expand their working area in order to achieve high market share (Amit and Zott, 2015).
For this, they want to follow all rule, regulation of UK government.
P1.2 Different structures of several kind of business
It is a most important work of management to develop business structure according to
their needs and wants. Some of the important enterprises structures are explain as follow:
Sole proprietorship: when single person run their business at small level then they are
come under this section. This one person are wholly responsible for all kind of risk and profits.
In this, they can not take back off form situation so that some time company face high loss.
General partnership: In this, minimum two and maximum 50 person are work together
in order to achieve common goals and objectives in given time frame. They are share equal
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rights on profit as well as equally part on loss. Management of the company has divided role and
responsibilities among all partners which help to reduce conflicts.
Limited partnership: Minimum number of partners is 2 and maximum is 50. In this
organisation, they have share their liabilities with the portion of investment. Management of this
kind of organisation has make partnership deed and mention all responsibilities in that
documentation. Mostly limited partnership has mean limited by liability.
Corporations: Generally this kind organisation has run their business operations at large
scale so that their profitability as well as market position is very high. In mostly firm,
government has spend their money into this of company.
Non profits organisation: They are run their business activities for welfare of society.
The main objectives or aim of non profit company is increase living standard of poor people,
enhance availability of food, provide cloths, house and many more (Bernstein, 2015). They are
arranging funds by charity function as well as donations. In UK each and every organisation
want to spend money in proportion of profitability as CSR fund.
P1.3 Explain impact of local, national and international economic environment on ASDA
ASDA was established in the year of 1949 which 642 store. Company are operating their
business activities in various country with almost 165000 employees. They are run their busies
operation at international level so that their business activities may effected by various external
factors. Some are explain as follow:
Local: ASDA has start their business activities at local area but now they are operating
enterprises at international level. Management of the company develop strategies to find out now
location and according to area needs ,want they are provide goods in order to run business
effectively. At this level, local vendor create high competition.
National: Most of the strategies are implementing according to compete competitors
effectively. So that, ASDA has plan business operation to meet customer's needs and wants
because there are high substitute goods are available are watching cost are very low. So that,
management of the company work effectively to achieve sustainability in long period of time
(Doppelt, 2017). In this stage firm receive high competition.
International: In 2017, ASDA has open their new store in Island. There are already big
competitors are established their market so that they want to develop strategies to build brand
image at market place.
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TASK2
P2.1 Explain the importance of accounting
Accounting is a one of the important function of management. Through this, firm as well
as other person like shareholders, government, suppliers, vendors, investors and public etc. has
want to know financial position of the company. Management of the company has prepare
annual financial report to provide relevant information to interested person. Some importance of
accounting are help to evaluating firm performance, manage and control inflow or outflow of
cash, help enterprises to be statutory complaints, help to construct budget, forecasting, financial
statements help regulatory bodies like stock exchange etc.
P5.1 Explain different function of HR department
HRM can be considered as the most fundamental part of a company that performs several
different functions such as organizing, staffing, recruitment, planning and many more. Human
resource manager of ASDA mainly aims over satisfying their organisation's people and
recruiting more qualified and eligible candidates for the job as per company requirements. To
accomplish this, HR adopt and coordinate numerous sources, activities to hire diverged
applicants. Employer, whereas, liable for rendering training and induction programs for new and
existing worker for developing their knowledge criteria (Dunning, 2014). Hence, these sessions
and activities helps in reducing risk along with rendering more healthy and safe working
environment to worker in order to get higher productivity and work in adequate manner.
P5.2 Key features of workers legislation
Government of United Kingdom has develop legislation in order to save right of
employees at market place. Through this, they are to reduce discrimination, encourage equality,
provide necessary maternity leave of women and many more. Each and every organisation want
to implementing employees law at working place in order to motivating all staff members thus
help to enhance productivity as well as performance in long period of time. It is a management
responsibilities to execute this rule and reduce discrimination on the basis of colour, age, gender,
nationality, education etc. (Gassmann, Frankenberger and Csik, 2014). ASDA has provide 12
week leave to women as maternity leave.
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TASK3
P3.1 Information and interpretation of profit and loss account
ASDA is a subsidiary organisation of Walmart so that their financial statement should be
consolidated in nature. Their profits and loss account are explain as follows:
Consolidate statements of P&L:
Consolidate Income Statement of Walmart Particulars
Revenue Year 2017
Total Revenue 485873000
Gross Profit 124617000
Cost of Revenue 361256000
Operating Expenses
Selling General and Administrative 101853000
Operating Income or Loss 22764000
Income from Continuing Operations
Total Other Income/Expenses Net 100000
Interest Expense 2367000
Earnings Before Interest and Taxes 22864000
Income Before Tax 20497000
Income Tax Expense 6204000
Minority Interest 2737000
Net Income 13643000
Net Income Applicable To Common Shares 13643000
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TASK 4
P4.1 Analysis own and other role with in team
Whole business activities are divided into small part and accordingly make team. With in
a team one team leaders are work has worked to manage or control members effectively. Each
group members their own role, responsibilities to achieve common goals and objectives in an
appropriate manner. As a team leader my responsibilities toward group are managing, controlling
staff behaviour, motivate them to give high quality performance, reduce conflict among
employees, enhance productivity, make plan to gain common goals, divided responsibilities
among all workers and many more (Omar, Leach and March, 2014). Other group person have
also some role to completing task in an effective manner. These are follow subordinates
directions, open communication with other team member to increase information related to
project, share their experience to members which help them to achieve target etc.
P4.2 Make team development plan for future training events
HR manager of the ASDA has develop plan for increase employees capabilities and
professional skilled. They are organising training event in order to enhance workers performance
as well as productivity. For this, HR manager want to know staff members needs and want
related to professional knowledge and learning style accordingly they are develop training plan.
There are explain various phases of team improvement plan by human resource manager of the
company are detail as below:
Forming: It is starting stage of group development which explain as management build team as
per their skills,capacities and abilities; thereby directing and coordinating them to competing
work effectively.
Storming: Human resources executive are organising brainstorming task for all employees to
enhance their skills and knowledge which help them to achieve goals effectively (Palattella, and
et. al., 2016).
Norming: In this step management of the company has develop strategies or policies to build
healthy relationship among all team members that help to reduce conflicts.
Performing: In this step leaders provide direction as well as guidance to group members so that
they are completing activities in an effective ways.
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Motivational theory: Motivational theories is a one of the important strategies that are
adopt by organisation to improve employees performance as well as productivity. Management
of ASDA has used multiple motivational theories in order to enhance employees satisfaction
toward firm. Some of the motivation theory are explain as follows:
Maslow hierarchy need motivation theory: In this, management of the company want analyse
their workers needs to improve satisfaction. Some important needs are psychological, social
cultural, self esteem, self actualisation. Mostly person has full fill their need in this order so that
they can able to achieve goals and objectives effectively (Petro and Gardiner, 2015).
Herzberg's two factor theory: In this theory two kind of factor hygiene and motivational may
influences employees. Hygiene factor mean element which are exist in working place and help to
motivate staff members. Motivational factor is a has help to management in order to enhance
employees satisfaction.
Explain leadership style:
Autocratic style: This tactic explain as seniors develop decision-making activities and
can not involve employees, so administration make judgements on time and choose alternatives
method as per their knowledge and skills.
Democratic style: Management of the company has appreciating participation of staff
members in decision making process so that employees feel positive motivation toward firm.
TASK5
P6.1Impact of customer's services on business success
Most of an organisation has develop strategies in order to run whole business activities
appropriately. One of the important action of plan is customer's services. Through this, firm are
able to build positive brand image in client's mind which help to gain higher profitability as well
as long term sustainability at market place (Reim, Parida and Örtqvist, 2015). Some impact of
this consumers services on company are increase brand value at market, enhance customer's
satisfaction, high profitability, sustainability, effective financial statements, high investment, low
risk and many more.
P6.2Benefits of customer service
Through customer's services firm are able to achieve objectives by offering high quality
clients services to their consumers. Some important benefits of buyer services are retain potential
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individual with firm, get more references with satisfying customers, create word of mouth
publicity, increase profits, enhance employees self confidence, develop positive market scenario,
competitive advantage and many more.
CONCLUSION
Form the above report it is concluded that operations activities has help to organisation
run whole enterprises effectively in long period of time. Management of the company has
develop strategies to motivate employees and develop team. Through this, they are capable to
increase performance as well as productivity in appropriate manner. With in an organisation,
each one department like finance, HR etc. has affect firm position at market place.
REFERENCES
Books and Journals
Adjei, H., and et. al., 2014. Assessing the Corporate Social Responsibility Activities of Atwima
Kwawoman Rural Bank Limited and its Impact on the Communities it Operates.
European Journal of Business and Innovation Research. 2(4). pp.36-47.
Amit, R. and Zott, C., 2015. Crafting business architecture: The antecedents of business model
design. Strategic Entrepreneurship Journal. 9(4). pp.331-350.
Bernstein, M. H., 2015. Regulating business by independent commission. Princeton University
Press.
Doppelt, B., 2017. Leading change toward sustainability: A change-management guide for
business, government and civil society. Routledge.
Dunning, J. H., 2014. The Globalization of Business (Routledge Revivals): The Challenge of the
1990s. Routledge.
economies. Routledge.
Gassmann, O., Frankenberger, K. and Csik, M., 2014. The business model navigator: 55 models
that will revolutionise your business. Pearson UK.
Omar, A.T., Leach, D. and March, J., 2014. Collaboration between nonprofit and business
sectors: A framework to guide strategy development for nonprofit organizations.
VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations. 25(3).
pp.657-678.
Palattella, M. R., and et. al., 2016. Internet of things in the 5G era: Enablers, architecture, and
business models. IEEE Journal on Selected Areas in Communications. 34(3). pp.510-
527.
Petro, Y. and Gardiner, P., 2015. An investigation of the influence of organizational design on
project portfolio success, effectiveness and business efficiency for project-based
organizations. International Journal of Project Management. 33(8). pp.1717-1729.
Reim, W., Parida, V. and Örtqvist, D., 2015. Product–Service Systems (PSS) business models
and tactics–a systematic literature review. Journal of Cleaner Production. 97. pp.61-75.
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