Introduction to Business Operations and Management
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This report highlights 5 tasks that is, contemporary Research, ALDI, business ethics, class discussion and collate the portfolio related to business operations and management.
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Contents INTRODUCTION...........................................................................................................................3 TASK 1............................................................................................................................................3 TASK 2............................................................................................................................................4 Adoption of similar business model with relevant example.......................................................4 Sacrifices that are to be made by customers under this business model.....................................4 TASK 3...........................................................................................................................................5 Business ethics...........................................................................................................................5 TASK 4............................................................................................................................................6 Compiled in Appendix.................................................................................................................6 TASK 5............................................................................................................................................6 CONCLUSION................................................................................................................................7 REFERENCES................................................................................................................................8 APPENDICES.................................................................................................................................9 TASK 4........................................................................................................................................9
INTRODUCTION The business operation refers to the activities that are conducted to run and manage production process of the company(Barnes, 2018). In includes various activities like technology, key operating expenses, personnel and key operating revenue. All these engaged in converting the raw material into finished goods of company to offers the product of company into target market. The business management refers to the practices of managers to manage the operations of business aswell as to guide and control the employeestowards theachievementof organisation goals. Theactivity focuses on planning, organising and determining of business functions which are needed to run and efficiently manage a business. This reports highlights 5 tasks that is, contemporary Research, ALDI, business ethics, class discussion and collate the portfolio. TASK 1 Operation management is related to analysing and reviewing all the operations as well as aspects of a company that assist firm to accomplish their specified goals(de Sousa Jabbour and Et. Al., 2019). With the changing situations of world, many operation management issues have started to take place in companies. The current two operation management issues that have been in news are explained below: Issue of Brexit- Brexit deal is the withdrawal of UK and north Ireland from European Union(Dincer, Hacioglu and Yüksel, 2018). This decision taken by government has adversely affected the operations of business in UK. It resulted in closing of many outlets of various businesses due to Brexit bureaucracy. To understand the uncertainties created by Brexit, University of Nottingham along with the team of Bank of England has conducted a survey of around 7500 businesses in UK. The survey lists out that Brexit has adversely impacts the growth and success prospects of companies leading to 6% reduction in investment and lowering employment level by 1.5%. The researchers estimated that this decision will minimise productivity of firms in future by half and resources will be allocated to low productivity instead of higher productivity firms. The executives and marketing director of businesses have predicted that Brexit will cut their sales by great number and maximise costs of operations. It has also decreased national British income by 0.6%.
Food or Consumer products shortage- Food shortage in UK has been creating major headlines in newspaper these days. Supermarkets shelves are emptied and restaurants menus have been modified due to insufficiency of raw food(Helmold and Terry, 2021). These issues have been arising due to shift in demographics caused by Brexit and to some some extent because of pandemic. This resulted in shortfall of drivers of heavy goods vehicle who are responsible for transporting consumer products in UK. Pandemic resulted in labour shortage which created issues in haulage and logistics. There are goods available but only few drivers are accessible to deliver them. The government of UK, make plans to fill the gap of industry and allows European drivers to operate in UK. But the researchers and analytics of UK have predicted that the crisis will deteriorate with time when the demand for goods will increase when the lock down will end. TASK 2 Adoption of similar business model with relevant example ALDI works on a business model whereby, it keeps a variety of products but in limited lotattheirconveniencestoresforofferingservicesthroughalocalbackdrop.Where, supermarkets such as Tesco, Sainsbury and Morrisons have spent varied resources on their operations for setting up their large stores. Managers of ALDI has take help of this business model by opening up of their various shops in local areas. This has helped them to reduce their operational cost as well as improve their management practices. They are facing the issue of shortage of staff who can maintain cash registers as well as perform stocking job in an efficient manner(Ivanov, Tsipoulanidis and Schönberger, 2019). This business model can be adopted in food and beverage industry by opening varied outlets on a local level which provides varied services to customers in a easy manner. This business model ought to work in UK's food and beverage industry as people are indulgent in nature and they want to enjoy their life as well as willing to go for eatery. For example, Gourmet Burger has many restaurant or food outlet in UK which helps them to serve a massive number of customers. Sacrifices that are to be made by customers under this business model Undoubtedly, this business model which is adopted by ALDI provides excellent services to customers as they can shop their grocery through a nearby convenience store and not going far
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for this. Customers can gain a variety of products nearby their house. Although, this exercise create issues for customers when they want many products of same brand for the festivities or celebrations. For this, they have to travel to far off market for procuring their groceries. ALDI reliance on products of their own brand at their stores helps them to increase their efficiency level and lowering their overhead cost. This has also help them to gain competitive advantage in market. However, this can be a poses as an issue to customers as they have to buy similar products form their stores. Customers are loyal to brand and get retained for long time. But there may be time where they can get bored with the use of similar brands(Luoand Choi, 2021). They may want to switch to different brand. TASK 3 Business ethics Business ethics refers to the implementation of procedure and policies regarding various topics such as bribery, frauds, corporate governance and discrimination(Muscatello, 2022). Many business faced issues related to business ethics which can be influenced by behaviour management, organisation structure and laws thatare followed by the workforce of business. For example: in Sports Direct, the managers use positive ethical approach in their management style such as they follow divisional structure in their organisation. As divisional structure, they delegate the responsibility and authority to all their workforce so they work with full dedication and confidence by taking initiative to lead the task. The leaders use participative leadership practice to work with staff members as they allow them to put some ideas and way of performing a task in specific way in their group discussion. All the employees have the equal opportunities to share their experiences, ideas, thoughts as well as problems that they faced while performing some tasks to the managers so they considered it while assigning another task to them. Also, the managers use various motivation techniques such as providing better training and development program to improve the skills or knowledge of employees for their future development. Further they use various techniques to measure the performance of employees then after they give incentives, recognition, rewards, bonus and many more to the employees which perform best and give their full efforts to complete the task on time. The management try to make best and healthy environment for the employees by providing them most effective plan for stress free working as well as by reducing their work load
into small task which helps them to understand the task better(Pettinger, 2020). Also, the top management of company conduct their business activities under various laws such as Equality Act 2010 andEmploymentAct 1969. by using this laws in the internal activities of company the management provides equal opportunities and salary to all, employees as per their job role for their future development. Also, the management make effective processes and plans for the working of their employees so they feel motivated and perform their task in most effective way. They adopt various changes such as transform their way of working and provides various fringe benefits to employees for their job security and retain them for long run. TASK 4 Compiled in Appendix The presentation I made about Human Resource Management gives me the insight into the profession of human resource. The positive aspect of this profession from my point of view is the ability to connect and motivate the employees of company and projects all of their efforts in direction of firm's goals. In my opinion, this profession is the backbone of any organisation as it deals with the workforce and provides them extensive knowledge about their work. Another positive aspect of this profession I got know is the process of recruitment and selection of right candidate on basis of their skills and talents so that it can maximise efficiency and productivity of organisation. After researching thoroughly about human resource profession, I came to the conclusion that it might create some challenges in organisation if the personnel responsible for human management does not practices fairly and without any discrimination. I consider various areas of this topic such as hiring, selecting, guiding, motivating, controlling and reviewing activities of employees. The area of training and development is also associated with human resource management. TASK 5 This report comprises of four task whereby all tasks are in relation with topic of operations management in business. Task one talks about impact of Brexit agreement and food product shortage on business operations management. Brexit agreement can be understood as a arrangement which marks the departure of UK from European Union. This practice has impacted organisations of UK as they have to close down their operations which influence their generation of sales. Food product shortage affects the spending and procuring practices of people. Task two
has concluded a summarised case study of ALDI which provides an understanding of their business model and also their implication on other industry. Task three summarises of varied business ethics and sustainable practices adopted by managers of Sports Direct in their business operations.Taskfourillustratestheunderstandingofhumanresourcepracticesinan organisation. It also delves into challenges and issues faced by managers in managing their employees in an effective manner. CONCLUSION As per presented data, it is concluded that the operation and management activity focuses on planning, organising and determining of business functions which are needed to run and efficiently manage a business production process. The operations issues are related with Brexit and consumer product shortage. The business ethics helps the management to conduct fair practices with employees and customer to get profit. The human resource management has great impact on overall operations and management of the company
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REFERENCES Books and Journals: Barnes, D., 2018.Operations Management. Macmillan International Higher Education. de Sousa Jabbour, A. B. L. and Et. Al., 2019. Circular economy business models and operations management.Journal of cleaner production.235.pp.1525-1539. Dincer, H., Hacioglu, Ü. and Yüksel, S., 2018. Strategic design and innovative thinking in business operations.Series: Contributions to Management Science. Publisher: Springer International Publishing. Helmold, M. and Terry, B., 2021. Operations Management 4.0. InOperations and Supply Management 4.0(pp. 21-34). Springer, Cham. Ivanov, D., Tsipoulanidis, A. and Schönberger, J., 2019.Global supply chain and operations management: A decision-oriented introduction to the creation of value(Vol. 2). Cham, Switzerland: Springer International Publishing. Luo, S. and Choi, T. M., 2021. Great partners: how deep learning and blockchain help improve business operations together.Annals of Operations Research, pp.1-26. Muscatello, J., 2022. An innovative approach to operations management building partnerships with local professionals.Journal of Education for Business, pp.1-3. Pettinger, R., 2020.Introduction to management. Bloomsbury Publishing. Pınarbaşı, F., 2018. The effects of strategic design on business operations. InStrategic Design and Innovative Thinking in Business Operations(pp. 115-129). Springer, Cham. Waters,D.,2019.Supplychainmanagement:Anintroductiontologistics.Bloomsbury Publishing. Online: Bloom. N and Et. Al., 2019.Brexit Is Already Affecting UK Businesses — Here’s How.[Online] Availablethrough:<https://hbr.org/2019/03/brexit-is-already-affecting-uk-businesses-heres- how> Patrick. C, 2021.Why are there food shortages in the UK?[Online] Available through: <https://www.aljazeera.com/news/2021/9/3/why-are-there-food-shortages-in-the-uk>
APPENDICES TASK 4 Slide 1: Slide 2:
Slide 3: Slide 4: Slide 5:
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