Management and Operations: Key Approaches, Importance, and Decision Making

This presentation provides an overview of management and operations, including key approaches to operations management, the importance and value of operations management, and the factors within the business environment that affect decision making. It also discusses the role of leaders and managers in operations management and highlights the similarities between different entrepreneurial ventures. References are provided for further reading.

Management & Operations

Table of Content
• Introduction
• Key approaches to operation management
• Importance and value of operation management
• Factor within business environment that affect decision making
• Conclusion
• References

Management and operations is termed as a process that include reviewing and
controlling of organizational functions that are related to the process of manufacturing
of services and products. This process involves raw material conversion into end
products as well as services as to create value form them and generate profitability.
This process is mainly concerned towards proper maintenance of organizational goods
as well as services and maintain systematic form of balance among revenue and cost of
entity.
Introduction

There are different kind of operational activities are used by the management of the company to
improve its channel of distribution in a well define manner.
TQM: This refers to total quality management which is used for the long term success through
customer satisfaction. In TQM all the members of company participate in improving process, product
service and the culture in which they work. This method help in minimizing the cost and tend to
provide high quality outcomes. For Tesco the management should implement such kind of
management tool as this will aid organization to increase the awareness regarding the quality culture
within the organization.
Key approaches to operations management

Role of leaders: The leader plays an vital role by assuring that the products and the goods
are produced by using proper method and techniques. Apart from this, leaders must be sure
that workers are well aware about there roles and responsibility.
Role of manager: Manager of Tesco have prime responsibility to provide resources to
employees in order to accomplish the task as per the time. Furthermore manager tend to
make healthy relationship suppliers for a smooth functioning.
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Operations management has various importance and values that helps the company to attains there aim
and objectives within a certain period of time. The different function and value of operation
management is defined below as:
Process design: It is an important aspect for the company because through this company design
and assist the production process of the business. It is necessary for Tesco, as it helps them to
manufacture the product and services in an effective and efficient manner. This can be implement in
the company according to the need and demand of the customers with that Tesco satisfy the customer
by providing the best services as per the requirement. If the company manages the process design of the
product and services then customers will get satisfied that increases the sales of the company.
Importance and value of operations
management

Logistic and Inventory: It is a factor that helps the company to produce the qualitative
products to the customers. And if it doesn't work well or support well in the business thus
company is not able top fulfil the need and want of the customers as per time with that also
doesn't provide services as per the requirement of the customers. Tesco gets the helps from
logistic and inventory as they manage the quantity of stocks and also provides the
information about the number of product that is needed to manufactured. It is also play a
vital role in the success and growth of Tesco as from this company minimize the waste that
has been produced at the time of production of products.
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Control and distribution system: It is a function of operation management that manages
and controls the manufacturing of product and services of the company. It is important for
Tesco as by this company controls the product development process of the company with
that also control the scarcity of the resources. It helps to reduce the wastage of resources that
has been utilized to develop the product of the company. It is important for Tesco as that
helps to improve the infrastructure and the distribution channel of the company by which
business attains there objectives within the particular period of time.
Continue….

Corporate social responsibility
It is a model that is conducted by the company by its own that helps the society in
terms of growth and development. It relates the relationship with the stakeholder, concern
of any business towards the development of society and control on environmental factors. It
is important for every business as it builds the morale and confidence of the employees as
they work for the society and for the welfare of the living standard and lifestyle of the
surrounds.
Factors within business environment that affect
decision making

Culture: It is the different standards that is found in the society that defines the behaviour of the people
and includes different norms of the individual like belief, religions, skills, knowledge, tradition,
experience, abilities and many more. It is the way of people to live there life and it is passed away to
next generation through learning.
Values: It is an individual behaviour that influenced and motivates there working standard. It shows
the ethics of the individual that defines what do to and what not to at every condition. Values also
measure the difference between what is right and what is wrong and also helps the company to connect
with the customers by providing the product and services that is quite relatable with the requirement of
the customers.
Similarities between different entrepreneurial
ventures

Conclusion
It has been concluded from the above context that operations management manages different
operations and activities of the company in an effective manner. Leader and manager
plays an effective role as they manage, controls, direct the employee to enhance there
performance . Further it concludes that there are different theories and concepts that has
been used by leader and manager to motivates the employee and also deals with the
different ongoing situations in the business.

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Evangelopoulos, V. A., and et. al., 2016. Optimal operation of smart distribution networks:
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References

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