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Operational Management Challenges and Success

   

Added on  2020-01-28

6 Pages1405 Words236 Views
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CURRENT TRENDS ANDCHALLENGES INOPERATIONMANAGEMENT
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3Current trends of operational management.................................................................................3Challenges in operational management......................................................................................4CONCLUSION................................................................................................................................5REFERENCES ...............................................................................................................................6
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INTRODUCTIONOperational management is a set of activities and procedures that are helpful for theworkforces of an organisation to execute their business functions in an order to mark up a greatsuccess and achieve the desired set of goals. Similar to this, the report is providing informationabout the current trends and challenges faced by organisation in managing their businessoperations. Current trends of operational managementAccording to the study of Hill and Hill (2012) whose study depicts that the decision oforganisation for adopting the policies, structuring and processes of operational management arehighly significant to their overall functioning and activities of gaining achievements. In additionto this, the operational management helps the organisational management to perform the entiretask assigned to them. Thus, it is necessary for them to follow and execute their businessfunctions as per the procedures, structures and strategies defined in the operational management.Along with this, the information provided by Oakland (2014), addressed that it is essential forthe managerial aspects like employees, managers and workers to determine a perfect strategy forcompleting the entire business operations allotted under them by planning the action plan definedas per the operational management processes. On the contrary to this, Davenport (2013) depicted that operational management ispractical and futuristic thus, the management of an organisation has to make decisions and takeactions at the moment of completing the task. This process helps them in determining thepossible results and outcomes from the processing the operations defined as per the operationalmanagement. For this, they need to assess the information about the present operationalstrategies prevailing in the market and consider them to plan their set of actions. In that context,the following are the trends of operational management which are to presently applied andutilised in the market:Global competition – The rising level of competition has forced the managerialparticipants of every company to identify and address the most effective, productive andprofitable set of operations and functions for their business. This would help them indefeating the competition and mark up greater level of success and overall achievements.For instance, the business operations of Ritz Carlton Hotel is mainly focused on
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