Analysis of Operation Management: Strategies and Factors Report

This report provides an overview of operation management, focusing on its significance and practical application within a business context. It explores key approaches such as Just in Time, Total Quality Management, and Lean Production, highlighting their roles in enhancing efficiency and effectiveness. The report also examines the importance of operation management in achieving organizational goals, emphasizing factors like revenue growth and market trends. Furthermore, it analyzes the impact of various factors, including organizational resources, financial status, market trends, stakeholders, legal and political changes, and technological changes, on operational decision-making. The report concludes by emphasizing the crucial role of effective operation management in improving overall organizational performance and meeting customer demands, referencing relevant academic sources to support its analysis. This report helps to understand the role of operation management in achieving organizational goals, focusing on practical application within a business context.

MANAGEMENT AND OPERATIONS

Table of Content
 Introduction
 Key approaches for operation management
 Importance and value of Operational Management
 Factors within the business environment that impact upon operational management
 Conclusion
 References

Introduction
Operations management refers to that area of business where management focus on the activities of designing and
controlling the process of production of goods and services. This process is responsible for ensuring that all the
available resources are efficiently used in order to meet the objective of business and customers on time. The role of
operational manager is to formulate and develop the strategies and tactics to ensure the smooth implementation of
operations within the organization.

Key Approaches for Operation Management
There are different approaches used by management of organisations to enhance efficiency and effectiveness.
Different approaches are helpful for analysing and evaluating organisational situations properly. Some of the common
approaches used within Barclays are mentioned below -
 Just in time
 Total quality management
 Lean production

Importance and Value of Operational Management
There is great importance and value of operation management within company. This helps in attaining organisational
goals and objectives. Barclays has to understand as well as evaluate importance and value of operation manager for
putting efforts in meeting goals and objectives. Some of the factors that demonstrates importance of operation
management are mentioned below -
 Increasing revenue
 Market trends
 Increasing sales

Factors within the business environment that impact upon operational
management
There are many factors and elements that affect the management and decision making process of the company (Barclays).
These factors has impact on the functioning of the company hence, achievement of objectives and goals become
complicated. These factors are being explained below:
 Resources of the organisation
 Financial status
 Market trends
 Stakeholders
 Legal and political changes
 Technological changes

Conclusion
It is concluded from the above presentation that operation management is important within the companies to manage
effectiveness of work. Leaders and managers helps in improving efficiency and effectiveness of organisation. Overall
performance of the company can be enhanced by analysing the needs and demands of all operations effectively.

References
 Nie, X. and et.al, 2020. Big Data analytics and IoT in Operation safety management in Under Water
Management. Computer Communications. 154. pp.188-196.
 Shajari, Z., Guerrero, J.M. and Javidi, M.H., 2020, September. Operation Management for Next-Generation of
MVDC Shipboard Microgrids. In 2020 International Conference on Smart Energy Systems and Technologies
(SEST) (pp. 1-6). IEEE.
 Shuangyi, Z., 2007. A Study of the Roles and Significances of ERP and B2B in Developing E-Commerce. Science
& Technology Progress and Policy. (5). p.55.

Thank You