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Operations Management Assignment: Barclays Bank

   

Added on  2020-06-06

15 Pages4670 Words109 Views
Management andOperation

Table of ContentsINTRODUCTION...........................................................................................................................1TASK1.............................................................................................................................................1P1 Explain and compare various roles and characteristics of manager as well as leaders ....1TASK2.............................................................................................................................................3P2 Application of roles of leaders and function of managers in different situations.............3P3 Different theories and models of approaches applied on situations within Barclays........4TASK3.............................................................................................................................................5P4 Key approaches operations management .........................................................................5P5 Explain value and importance of operation management.................................................8TASK4.............................................................................................................................................9P6 Factors which affect business environment and creates an impact upon decision-making ofleaders and managers..............................................................................................................9CONCLUSION .............................................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONOperations management is an area of administration related to controlling and designingthe process of production. This involves redesigning the whole business activities for producingbetter quality product and services. This is concerned with managing whole production system; itis a process to convert all inputs into outputs. Barclays is a British multinational bank which runsits business activities in around 40 countries with approximately 120,000 employees. Companyorganises their core business in four segments: investment, personal and corporate, Barclaycardbanking. Its headquarters are located in London, UK. Barclays has a global approach whichhelps to provide services to large numbers of customers. Goldsmith banking services are theorigin of Barclays and they established in London, 1690 (Ageron, Gunasekaran and Spalanzani,2012). Under this assignment, analyse or compare role of the manage and leaders and theirapplicability in different business situation. Explain key approaches of operation managementand applicability in various situation. TASK1P1 Explain and compare various roles and characteristics of manager as well as leaders In Barclays, superior plays crucial part in taking care that staff members perform tasks inproper manner. They require that resources are utilised efficiently so that firm goals andobjectives get accomplished.According to Bozarth, Handfield and Chandiran, 2013, Management role is to framestrategies and distribute duties among members. They require to provide guidance to employeesso that they attain targets within specified time frame. As per Brigham and Houston, 2012, leadership specifies that employees functioneffectively, if they are dedicated and motivated towards their job. This helps employer to retaincompetent people and lower their absenteeism. Management and leadership are different functions as both individuals have distinct aimand duties to be performed. According to J. Kotter functions of managers and leaders are asfollows:Managers LeadersManager’s task is formulation of strategies andIt is a leader’s responsibilities to assign task1

policies which employees follow so that theyattain adequate outcomes for company. according to employees skills and capabilities. They require to distribute duties and giveappropriate guidance to workforce about taskswhich they perform.They need to keep employees dedicated andmotivated so that they complete activitieswithin specified deadlines.Management organise activities and utiliseresources in an efficient manner. Leadership defines that staff members getadequate instruction about tasks assigned tothem. Thus, employees will functioneffectively.Management By Objective (MBO): This is the model which is developed by Drucker. Inorganisation, executive execute this concept in system; so that utilise resources properly.Administration develop goals and objectives for firm, thereby informing workforce about targetswhich they require to accomplish. This provides support to manager and leader in directingemployees and makes them function effectively so that they complete activities within specifiedtime frame. As in Barclays, administration keep members connected with company by involvingthem in decision-making process (Choudhry, Cummins, and Plenderleith, 2012). So, employeesfunction properly and accomplish targets timely. Thus, firm is able to deliver adequate offeringsto people and generate profit for their business. Hence, executives are able to attain goals andobjectives timely.Role of Management: Interpersonal role: Management require to have healthy relationship with staff members,so that they are able to direct them and function properly. In Barclays, manager distributes dutiesas per skills and abilities of employees and gives them adequate instruction about tasks. Thishelps them to complete activities timely and accomplish targets.Informational role: It is essential that manager provides appropriate facts to workforce,so that they easily perform activities. As in Barclays, superior keep employees informed aboutfirm goals and objectives. This helps them to direct members and attain those targets withindeadlines (Function of operation management. 2012).Decisional role: In given organisation, executive should involve other members indecision-making process. This helps them in selecting adequate alternatives, which are best for2

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