Principles of Operations and Management

Running head: PRINCIPLES OF OPERATIONS AND MANAGEMENT
Principles of Operations and Management
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PRINCIPLES OF OPERATIONS AND MANAGEMENT
Table of Contents
Section 1: Power point presentation...........................................................................................3
Introduction............................................................................................................................3
Analysis of business environment..........................................................................................3
Analysis of core operational activities...................................................................................6
Explanation of impact of corporate responsibility and new technology................................8
Explanation of organisational strategy and decision making.................................................9
Explanation of monitoring and controlling in the organisation..............................................9
Impact of operations function on supply chain....................................................................10
Section 2: Resource allocation plan.........................................................................................10
Introduction..........................................................................................................................10
Resource management strategies..........................................................................................11
Supplier management strategies...........................................................................................12
Application of tools..............................................................................................................13
Conclusion............................................................................................................................16
Section 3: Risk management plan............................................................................................17
Strategic analysis of operations functions............................................................................17
Developing a contingency plan............................................................................................17
Identify potential risk or hazards and control measures.......................................................18
Developing contingency plans and strategies.......................................................................18
Application of tools..............................................................................................................18

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Recommendation..................................................................................................................20
Section 4: Strategic risk analysis..............................................................................................21
Conducting SRA of the organisation....................................................................................21
Developing contingency plans and strategies.......................................................................23
Reference..................................................................................................................................24

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Section 1: Power point presentation
Introduction
Operations management is considered as the administrator of business practises that
helps in the creation of a highest level of efficiency in an organisation. According to
Madhavaram, Hunt and Bicen (2017), the major benefit for operational management is that it
can help in maintaining the resources in an organisation. On the other hand, the role and
activities of operations management is strategic as it deals with the planning of organisational
success. It helps in being tactical after receiving credits from the materialistic sources and at
the same time remains operational as it undermines the activities of organisations. The major
functions of operations are to maintain a transformation process. The context of operations
strategy is to maintain any type of changes in an organisation. For this particular research Star
Event Enterprise is taken into consideration that operates in Australia. The functional
departments of Star Event Enterprise include the human resource management, finance as
well as production and sales. For example the human resource management takes into
consideration the number of recruits required for maintaining stability within the
organisation.
Analysis of business environment
In order to succeed in a competitive environment it is necessary for organisations to
understand the business environment by analysing the external factors that affect it (Smith
2016). This can be done by conducting a PESTEL analysis.
Political: The political scenario of a country is usually unstable owing to the
controversies that exist within the different countries. However, in Australia, the political
scenario is stable and it provides the required support that can help in the development of a

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company in the region as well as outside of it (Boasson and Wettestad 2016). Therefore, for
Star Event Enterprise to succeed in the business environment the political scenario of the
Australia plays a crucial role. For example, the political scenario of Australia can provide
ample support for the company to develop and engage in organising events that can help it to
promote sustainability in the environment. Thereby the operations of the company can have
excess support from the Government in terms of relaxation of rules as well as financial
support.
Economic: The economic condition provides stability to a country particularly during
the time of recession. Holmes et al. (2015) is of the opinion that with a stable economic
environment Australia can provide support to emerging organisations so that they can
continue with the development of its business. Similarly in the case of Star Event Enterprise,
the economic stability of Australia can help in continuing with the organising of events. For
example, it can help Australia to host national film festivals or sports events that can open up
Australia to the world and help in the contribution of its economic benefit. In this regard, it
can be said that based on the economic support operational planning can be conducted in an
effective manner by spending finances.
Social: The social factor denotes the manner in which the Australian public provides
support to an organisation. The difficulty that Star Event Enterprise may face is that it might
need some time to develop its reputation in the market. Hence, it is necessary that the
company continue with its development so that it can help in understanding the demands of
the customers. Overall, the analysis of the social factor can provide an understanding of the
support usually provided by the people of Australia (Khan, Alam and Alam 2015). This can
help the company to grow and develop so that it Corporate Social Responsibility of the
company can be developed along with its objective of arranging operational activities
involved with the development of planning in the organisation.

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Technology: The technological factor can help Star Event Enterprise to reach out to
customers and provide them with the ability to continue dominating the entertainment
industry. For example, with the help of technology the company can base its events by
providing 3D experience to customers attending any event set up by the company. This can
help the company to gain more recognition in the market. Gopal, Lindberg and Lyytinen
(2016) pointed out that Australia is one of the countries that are considered to be innovative
in terms of technology. Therefore, the application of this particular concept can help Star
Event Enterprise to continue with the development of its operations such as arranging
resources for entertainment purpose.
Environmental: The environmental factor of Australia is sustainable and provides
people with a picturesque experience upon visiting the country. Hence, for Star Event
Enterprise to develop it needs to ensure that the environment of the county is hampered. In
this regard, the company need to make considerations based on the decisions taken in
maintaining the operations of the company so that it can develop sustainability in the
environment. It needs to consider identifying and organising the events that can help in
promoting sustainability within the environment. Star Event Enterprise need to understand
the factors that provide opportunities for growth as well as maintain the expectations of the
environment. By conducting sustainable event arrangements, Star Event Enterprise can gain
the recognition of the business as well as satisfy customers.
Legal: Australian legal laws are strict particularly during the time of organisations.
For example, Star Event Enterprise need to consider laws that can be associated with
employment, maintaining the environment as well as ensuring that customer rights are
maintained. As stated by Kuratko, Hornsby and Covin (2014) the legal factors also contribute
for the success of an organisation as legality in the business need to be made based on the
type of events that are organised. For example, Star Event Enterprise needs to comply with