Management and Operations: Approaches, Importance, and Factors

This presentation explores the various approaches to operations management, the importance and value of operations management, and the factors within the business environment that impact decision-making by leaders and managers. It is based on a case study of Corus, a steel making company.

Management and
Operations
(PART -2)

Table of Contents
Introduction
Approaches to operations management and role that leader and manager
play
Importance and Value of Operations Management
Factors within the business environment that impact upon operational
management and decision-making by leaders and managers
Conclusion

Management and operations is related to various business practises which
are related to having a administration which can lead to very high efficiency
in the company. This is concerned with production process to take place with
maximum effectiveness as resources are always limited and those have to be
used in a manner which can provide maximum benefit to company. This
report is based on Corus which is a steel making company and their
headquarters are present in UK and Netherlands. this report is based on
various aspects related with operations and management .
INTRODUCTION

Approaches of Operational Management
There are various methods which have a impact on overall growth of a business
organisation in a market. In context with Corus, there are various approaches
SUCH AS Six sigma, lean principle which are necessary for conducting business
activities in an effective manner. Below discussed are some of approaches:
• TQM:
• Lean management:
•

Contd..
 Six Sigma:

The significance & value of operations
management in order to attain business
objectives
Operations management is a business practise which is helpful in creating
high profitability level and effectiveness in the organisation. This is
generally concerned with a process of converting of raw materials into
finished goods which can help in enhancing satisfaction level of
customers. Mangers will be able to make goods which are high in quality
so that there are positive outcomes the significance of operations
management is discussed below:
.

Functions of Operation Management
The various functions of operation management defined below:
Cost effectiveness:

Objectives of Operation Management:
The Objectives of operation management is mentioned below with
relation to company:
 Cost Reduction
 Enhancement of overall productivity:

Factors in the business environment that affect
the decision making of leaders and managers
Business environment considers various elements so that they are able to
create a significant impact on ability of organisation to maintain and build a
positive and long term relationship between customers. In organisations there
are some factors which Create a positive impact on decision making process
of leaders and management which is done by mangers belonging to various
functional units. This function takes place in Corus as discussed below:

Contd..
•Social factors:
•Culture:
•Corporate Social Responsibility:
•Stakeholders:

Conclusion
This report is based on various aspects which are related to operations
management in a company. There are various key approaches which help
in managing of various Operations and functions so that this can help in
managing role played by leaders. Significance of operations management
is studied to attain objectivities of business and lastly there are various
factors which have to be understood and are a part of business
environment which assists managers & leaders in organisation in making
various decisions.

References
 Gibson, P. and Parkman, R., 2018. Cruise operations management:
hospitality perspectives. Routledge.
 Heizer, J., 2016. Operations management, 11/e. Pearson Education
India.
 Meredith, J.R. and Shafer, S.M., 2019. Operations and supply chain
management for MBAs. Wiley.

Thank You