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Unit 4 Management and Operations Assignment Report

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The Millennium Universal College

   

Corporate and Business Law (F4 - LW) (F4 - LW)

   

Added on  2020-10-22

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Management and operations are specialized fields within the business. In this project, there is a complete analysis of the functions and roles of leaders and managers of Marks & Spencer; along with, it emphasis on the value of operation management in attaining the goals of the business and the relationship between management and leadership for Corporate Social Responsibility.

 

Unit 4 Management and Operations Assignment Report

   

The Millennium Universal College

   

Corporate and Business Law (F4 - LW) (F4 - LW)

   Added on 2020-10-22

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Management And Operations1
Unit 4 Management and Operations Assignment Report_1
Table of ContentsINTRODUCTION:............................................................................................................................3LO 3....................................................................................................................................................3P4 Key approaches to operations management and role of leaders and managers........................3P5 Importance of operation management in achieving business objectives..................................4M3 Improvement in efficiency of leaders' and managers' operational management.....................5D2 Applications of operations and factors that impact wider business environment....................5LO 4....................................................................................................................................................5P6 Factors that effect operational management and decision-making by leaders and managers..5D4 Evaluation of factors that affect business environment and wider community.......................6CONCLUSION...................................................................................................................................6REFERENCES:..................................................................................................................................82
Unit 4 Management and Operations Assignment Report_2
INTRODUCTIONManagement and operations are specialized fields within business. Employee requires allskills, qualification to execute planning, and strategies of operational management. It involvesperfect communication skills with people, business administration, strong leadership skill andcapability to do multitasking work (Boyle, 2017). It is a set of meetings, tools and behaviourswhich helps in managing procedure and people to deliver results. In this project, there is complete analysis of functions and roles of leaders and managers ofMarks & Spencer; along with, it emphasis on value of operation management in attaining goalsof business and relationship between management and leadership for Corporate SocialResponsibility.LO 3P4 Key approaches to operations management and role of leaders and managersKey approaches to operations management include Six Sigma, lean production theory andqueuing theory. Six Sigma is used for process improvement to improve quality of output byidentify and terminate reasons of defects and minimizing variability in business processes andmanufacturing. It is used to achieve predictable and stable results and possess characteristics thatcan be measured, analysed and controlled (Chang, 2016). Lean production focuses on reducingwaste which leads in maximizing productivity. Marks & Spencer follows these approaches to improve its management and operations. It isbased on principles such as continuous improvement or Kaizan, just in time inventory whichdecreases waste or increases efficiency. Queuing theory helps in finalizing results of businessdecisions so that services can be provided at time. Operational functions of leaders and managersare process designing, distributing and controlling system, transforming raw material into finishedservices or goods, capacity and inventory management .Perfect operational management includesTotal Quality management (TQM) which illustrates long run success through customer satisfactionprocess. In this, all employees improve their work by engaging themselves in services, processes,services and culture (Connell, Page and Meyer, 2015). This approach is customer focussed andprocess centred. Main role of M&S leaders is to create vision and execute strategies to achieve results. Theymotivate employees and appreciate for their jobs. A good leader always communicates well and3
Unit 4 Management and Operations Assignment Report_3

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