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Introduction to Business Operations and Services : Assignment

   

Added on  2021-02-19

11 Pages3872 Words32 Views
Introduction to BusinessOperations and Services

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Overview of the Organization......................................................................................................1MAIN BODY...................................................................................................................................11. Introduction of operations improvement strategy and various tools & techniques for theadoption of this improvement strategy........................................................................................12. Operational strategies of Ford and General Motors for the purpose of gaining market sharefrom Toyota.................................................................................................................................6CONCLUSION ...............................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONBusiness operation and service refers to the business area which basically concerned withthe production and distribution of products and services. It involves the quality, cost and supplychain management of process and products. It is generally handled by one department of themanufacturing company which is known as Operational Management Department (Thompson,Strickland and Gamble, 2015).Present report will highlight the operation improvement strategies, related tools andtechniques. It will also tell about the operational strategies to gain market shares.Overview of the OrganizationToyota Motor Corporation is a multinational company whose headquarters is in ToyotaCity, Japan. This company is working under the Automotive and Manufacturing industry. It wasfounded in year 1937 by Kiichiro Toyoda. It provides its products and services to the worldwide.Key people of the enterprise are Takeshi Uchiyamada (who is the chairman), Shigeru Hayakawa(who is vice chairman) and Akio Toyoda (who is president). Its product portfolio consists ofautomobiles (cars), luxury vehicles, commercial vehicles and engines. Along with that,Organization provide various services which are such as Banking, Financing and Leasing. Itscompetitors are Ford and General Motors etc.MAIN BODY1. Introduction of operations improvement strategy and various tools & techniques for theadoption of this improvement strategy.MEANING OF OPERATIONSOperations refers to the activities which involves in the production and distribution of theproducts and services being offered by the organization. In multinational companies, operationshas its own department which is considered as operations management. Operations Managementmeans the administration of business who involves in the creation of efficiency and profitabilityof the organization in order to gain competitive advantage (Wiengarten and et.al., 2019).Operations management is one of the most important business function which is carry out for thepurpose of gaining competitive advantage. There are various functions related to the operationmanagement which are such as -Product ManagementProcess Management1

Inventory ManagementSupply Chain ManagementWaste ManagementQuality ManagementMEANING OF OPERATIONS IMPROVEMENT STRATEGYOperations Improvement Strategy can be defined as the method or plan through whichcompany improve its operations and reach to their objectives & goals. There are variousstrategies which can be use for the improvement of the operations of the organization. Thesestrategies are as follows -Process Improvement Strategy — Process improvement strategy is the strategy through whichcompany is able to achieve competitive advantage by identifying, analysing, eliminating andimprovement the inefficiencies and wastes within the business process. It also involves culture,structure and plant conditions of the company.Continuous Improvement Strategy — Continuous improvement strategy means the strategythrough which company is able to improve the things which is done on the regular basis withinthe organization. It is considered to be the continuous efforts put by the company in order toimprove the product, service or process (Mendibil and et.al., 2016).VARIOUS OPERATIONS IMPROVEMENT STRATEGY ADOPTED BY TOYOTAThere are various strategies under the operations improvement strategy which is beingadopted by the Toyota. These strategies are as follows -Process Improvement Strategy — For the adoption of this strategy within the company, Toyotahas adopted various strategies which are as follows -Lean Process Model — For the improvement of process within the company, it is very importantto adopt the lean model in the context of manufacturing of products carrying out by the Toyota.This is known as Lean manufacturing. This will help Toyota to reduce the waste and add somecustomers values to the products offered. For that they have to follow 5 lean principles which arementioned below -Value — Value refers to the needs of customers for which they are ready to pay for the somespecific product. Here, customers must be willing to pay. If he is not ready to pay for product,that means he doesn't have any value for the product.2

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