Management and Operations: Key Approaches, Importance, and Factors

This presentation provides an overview of management and operations, including key approaches such as Six Sigma and Lean Production. It discusses the importance and value of operations management in achieving business objectives. Additionally, it explores the factors of the business environment that impact operations. References are provided for further reading.

MANAGEMENT AND
OPERATIONS

TABLE OF CONTENT
• Introduction
• Key approaches of operation management
• Importance and value of operations management
• Factors of business environment
• References

Management and operations refers to the controlling
and designing of products and services for to enhance
the efficiency of the company. It basically includes
the conversion of raw material and labour to the
goods and services that maximise the profit of the
business.
INTRODUCTION

There are different theories of operations management that includes the planning,
controlling, directing, organising by which the performance of the Tesco increases and thus
with that there is an increment in the productivity as well (Operations Management of
Tesco, 2020).
KEY APPROACHES OF OPERATION
MANAGEMENT

There are some approaches of the operations management that are as follows as:
• Six sigma theory: It is a set of tools and techniques by which the overall performance will be
improved. It is a process by which the defects of the product and services will be removed by
applying different techniques and with that it measures the performance of process.
• Lean production: It is a model by which Tesco reduces the wastage of the resources and make
sure that quality of the product will enhanced. The main aim of this theory is to reduce the
overall cost of the product by which business become more efficient towards work and comes
with effective outcomes.
CONTINUE….

• Queuing theory : It is a mathematical operation by which the time of different activities
will be assigned such that the approximate completion time will be predicted. Queue
defines the resources that is needed to perform the task that helps the Tesco at the time of
decision-making.
CONTINUE….

There are different approaches of the management approaches of
Tesco in operation management that are as below as:
• Total quality management: It is a continuous process by which
Tesco reduce the wastage of the resources and also analyse the
issues after that remove that error from the business that increase
the performance of the employees and company achieve the growth
and development.
CONTINUE….

Just-in time inventory: It is a strategy that is applied
when there is an urgency or need of the goods in the
production department of the business. It is measurably
used to reduce the cost of the goods and there will be a
proper flow of money in the business with that also
reduce the inventory expenses.
CONTINUE….

There are various importance of the operations management that helps the Tesco to achieve the
business objectives these are defined below as:
• Transformation of raw material into finished goods: Operation management of Tesco
operates the different operations and controls the inventory cost (Rudolph, 2018).
• Process design: Operation manager of Tesco develop plan with that there is less wastage of
the resources and also takes lesser time for completion.
• Capacity management: Operation manager of Tesco control and operates different
functions as quality of the product and supply of goods, requirement of raw materials etc.
IMPORTANCE AND VALUE OF OPERATIONS
MANAGEMENT

• Logistics and inventory management: With the management of operation they also
manages the supply and stock of product and services that is offered by the Tesco.
• Scheduling: It is the major importance of operations management of Tesco to plan the
overall schedule of the collection of raw material, manages the labour, machinery usage,
equipment's, supply of goods in the market with the market requirement.
CONTINUE….

Business environment involves both internal and external factor that affects the
performance of the Tesco and includes employees, workers, suppliers, demand and supply,
customers, micro-environmental factors, clients and many more.
FACTORS OF BUSINESS ENVIRONMENT

There are different dimensions of contemporary business environment of Tesco are as follows
as:
• Corporate social responsibility: It is a model of the business that is developed by Tesco to
be social with the public, stakeholders, clients etc.
• Culture is a factor in which leader identifies the behaviour and style of the society and then
implement the responsibility according to the requirement of the society and manager
manages the different activities by which the change will implement in an effective manner.
CONTINUE….

• Values is the another factor of corporate social responsibility in which leader maintains
the values of the Tesco in the society and makes sure that people also get positively
affects by the roles of the company.
• Ethics includes the power of being honest, fair, charismatic and for that leadership is a
quality that maintains the belief and perform all the activities with the fairness and clarity.
CONTINUE….

• Sustainability is a factor in which leader attains the value and image of the Tesco and
manager performs the all the activities by which the image of the company remain
increased.
CONTINUE….

• Lester, D., 2019. Theories of personality: A systems approach. Routledge.
• Rudolph, C.W. And et. al., 2018. Leadership and generations at work: A critical review.
The Leadership Quarterly. 29(1). pp.44-57.
• Steelman, L.A. and Wolfeld, L., 2018. The manager as coach: The role of feedback
orientation. Journal of Business and Psychology. 33(1). pp.41-53.
REFERENCES

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