Podcast
Questions and Answers
It is the domain management which is concerned with designing and controlling the process of production.
It is the domain management which is concerned with designing and controlling the process of production.
Operations Management
It deals with the redesigning of business operations in the production of goods or services.
It deals with the redesigning of business operations in the production of goods or services.
Everything that happens within a company to keep it running and earning money is referred to collectively as business operations.
Everything that happens within a company to keep it running and earning money is referred to collectively as business operations.
often include a section dedicated to operations so that company founders understand the systems, equipment, people and processes need to make organization function.
often include a section dedicated to operations so that company founders understand the systems, equipment, people and processes need to make organization function.
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Business Operations Elements
Business Operations Elements
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It is important because of its impact on productivity and efficiency
It is important because of its impact on productivity and efficiency
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Business operations processes should be documented department by department so that operations managers can study them to find areas for improvement, consolidations, or cost-savings.
Business operations processes should be documented department by department so that operations managers can study them to find areas for improvement, consolidations, or cost-savings.
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helps companies train new employees.
helps companies train new employees.
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It is determined by the processes.
It is determined by the processes.
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“Who needs to do the work outlined in the work processes and how many of them are needed?”
“Who needs to do the work outlined in the work processes and how many of them are needed?”
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It is more important to certain types of businesses than to others and the reason for the location will vary.
It is more important to certain types of businesses than to others and the reason for the location will vary.
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For instances: a solopreneur consultant might only need room m for a desk at home, a pet groomer will need a location with parking, and a software developer will need to be located in a region with access to appropriate talent.
For instances: a solopreneur consultant might only need room m for a desk at home, a pet groomer will need a location with parking, and a software developer will need to be located in a region with access to appropriate talent.
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It is needed for optimum business operations will often have an impact on location.
It is needed for optimum business operations will often have an impact on location.
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• Using the previous example: The pet groomer with a staff and several grooming bays will need more space and different equipment form the mobile groomer wo offers services provided at the pet’s home.
• Using the previous example: The pet groomer with a staff and several grooming bays will need more space and different equipment form the mobile groomer wo offers services provided at the pet’s home.
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Once a business is established, and particularly after a growth spurt, it’s important to periodically assess and analyze business operations to identify inefficiencies and improve communication.
Once a business is established, and particularly after a growth spurt, it’s important to periodically assess and analyze business operations to identify inefficiencies and improve communication.
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Comparisons with industry benchmarks and best practices can help a company make sure its business operations are optimum.
Comparisons with industry benchmarks and best practices can help a company make sure its business operations are optimum.
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It is the administration of business practices to create the highest level of efficiency possible within an organization.
It is the administration of business practices to create the highest level of efficiency possible within an organization.
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It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization.
It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization.
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Operations management teams attempt to balance costs with revenue to the achieve the highest net operating profit possible.
Operations management teams attempt to balance costs with revenue to the achieve the highest net operating profit possible.
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NVOLVES UTILIZING RESOURCES FROM STAFF, MATERIALS. EQUIPMENT, AND TECHNOLOGY.
NVOLVES UTILIZING RESOURCES FROM STAFF, MATERIALS. EQUIPMENT, AND TECHNOLOGY.
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OPERATIONS MANAGERS ACQUIRE, DEVELOP, AND DELIVER GOODS TO CLIENTS BASED ON CLIENT NEEDS AND THE ABILITIES OF THE COMPANY.
OPERATIONS MANAGERS ACQUIRE, DEVELOP, AND DELIVER GOODS TO CLIENTS BASED ON CLIENT NEEDS AND THE ABILITIES OF THE COMPANY.
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HANDLES VARIOUS STRATEGIC ISSUES, INCLUDING DETERMINING THE SIZE OF MANUFACTURING PLANTS AND PROJECT MANAGEMENT METHODS AND IMPLEMENTING THE STRUCTURE OF INFORMATION TECHNOLOGY NETWORKS.
HANDLES VARIOUS STRATEGIC ISSUES, INCLUDING DETERMINING THE SIZE OF MANUFACTURING PLANTS AND PROJECT MANAGEMENT METHODS AND IMPLEMENTING THE STRUCTURE OF INFORMATION TECHNOLOGY NETWORKS.
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OTHER OPERATIONAL ISSUES INCLUDE THE MANAGEMENT OF INVENTORY LEVELS, INCLUDING WORK-INPROCESS LEVELS AND RAW MATERIALS ACQUISITION, QUALITY CONTROL, MATERIALS HANDLING, AND MAINTENANCE POLICIES
OTHER OPERATIONAL ISSUES INCLUDE THE MANAGEMENT OF INVENTORY LEVELS, INCLUDING WORK-INPROCESS LEVELS AND RAW MATERIALS ACQUISITION, QUALITY CONTROL, MATERIALS HANDLING, AND MAINTENANCE POLICIES
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An(blank) understands local and global trends, customer demand and the available resources for offering services.
An(blank) understands local and global trends, customer demand and the available resources for offering services.
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approaches the use of labor in a timely, cost-effective manner to deliver customer expectations.
approaches the use of labor in a timely, cost-effective manner to deliver customer expectations.
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is responsible for finding vendors that supply the appropriate goods at reasonable prices and have the ability to deliver the product or service when needed
is responsible for finding vendors that supply the appropriate goods at reasonable prices and have the ability to deliver the product or service when needed
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also typically follows up with customers to ensure smooth experience and meet the quality service.
also typically follows up with customers to ensure smooth experience and meet the quality service.
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takes the feedback received and distributes the relevant information to each department to use in process improvement.
takes the feedback received and distributes the relevant information to each department to use in process improvement.
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are involved in coordinating and developing new processes while re-evaluating current structures.
are involved in coordinating and developing new processes while re-evaluating current structures.
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are two key drivers of being an operations manager, and the work often requires versatility and innovation.
are two key drivers of being an operations manager, and the work often requires versatility and innovation.
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It plays a chief role in operations management.
It plays a chief role in operations management.
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It is essential to ensure that the organization’s finance has been utilized properly to carry out major functions such as the creation of goods or services so that the customer’s needs could be satisfied.
It is essential to ensure that the organization’s finance has been utilized properly to carry out major functions such as the creation of goods or services so that the customer’s needs could be satisfied.
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This function in operation management is mainly concerned with planning, organizing, and controlling all the activities of an organization which helps in converting the raw materials and human efforts into valuable goods and services for satisfying customer needs.
This function in operation management is mainly concerned with planning, organizing, and controlling all the activities of an organization which helps in converting the raw materials and human efforts into valuable goods and services for satisfying customer needs.
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refers to planning tactics that could help them to optimize the resources and have a competitive edge over others. Business strategies imply to supply chain configuration, sales, capacity to hold money, optimum utilization of human resources and many more.
refers to planning tactics that could help them to optimize the resources and have a competitive edge over others. Business strategies imply to supply chain configuration, sales, capacity to hold money, optimum utilization of human resources and many more.
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Incorporating innovative technologies play a crucial in the selling of a product. Thus, it is the duty of operations manager to ensure that the product is designed catering to the market trends and needs of the customers. The modern-day customers are more concerned about the quality of the product than its quantity. So, the operation managers focus on producing top-notch quality products.
Incorporating innovative technologies play a crucial in the selling of a product. Thus, it is the duty of operations manager to ensure that the product is designed catering to the market trends and needs of the customers. The modern-day customers are more concerned about the quality of the product than its quantity. So, the operation managers focus on producing top-notch quality products.
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refers to the process of making an estimation regarding certain events that might occur in the future.
refers to the process of making an estimation regarding certain events that might occur in the future.
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refers to the estimation of customer’s demand so that production can be done accordingly. Through this, the manager gets to know what to produce, when to produce and
refers to the estimation of customer’s demand so that production can be done accordingly. Through this, the manager gets to know what to produce, when to produce and
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The main motive of _____________ is to ensure effective management, monitoring and controlling of all the main activities that are held in a firm.
The main motive of _____________ is to ensure effective management, monitoring and controlling of all the main activities that are held in a firm.
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starts from the supply of the raw materials and continues till the production of the final product and the their selling to the customers which will satisfy their needs and wants.
starts from the supply of the raw materials and continues till the production of the final product and the their selling to the customers which will satisfy their needs and wants.
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Quality management plays an imperative role in selling a product.
Quality management plays an imperative role in selling a product.
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The operations manager allocate the task of quality management to a team and then supervise their task. The managers identify project defects and rectify them to ensure quality. For this, certain systems are used that measure and maintain the quality of the product.
The operations manager allocate the task of quality management to a team and then supervise their task. The managers identify project defects and rectify them to ensure quality. For this, certain systems are used that measure and maintain the quality of the product.
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Operations management needs to focus on the overall problem, instead of just techniques. This is because no tool in itself will be able to present a universal solution.
Operations management needs to focus on the overall problem, instead of just techniques. This is because no tool in itself will be able to present a universal solution.
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Within a production facility, everything within the operation is interconnected. All of these elements have to be consistent and predictable. Without it, the operation will not be able to achieve an outcome for profit.
Within a production facility, everything within the operation is interconnected. All of these elements have to be consistent and predictable. Without it, the operation will not be able to achieve an outcome for profit.
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Trial and error process are extremely costly, which is why it is important for managers to understand that they have limitations. This will save money and time and help production in the long run.
Trial and error process are extremely costly, which is why it is important for managers to understand that they have limitations. This will save money and time and help production in the long run.
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While there are various definitions of what success may be within your production facility, the interest of your customer should always be taken into account. If you wish to be successful, you have to keep your customers happy and coming back.
While there are various definitions of what success may be within your production facility, the interest of your customer should always be taken into account. If you wish to be successful, you have to keep your customers happy and coming back.
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Being accountable is key within running a manufacturing operation. Managers are expected to be able to set rules and metrics whole also checking on a frequent basis if these goals are being met. Accountability is a must.
Being accountable is key within running a manufacturing operation. Managers are expected to be able to set rules and metrics whole also checking on a frequent basis if these goals are being met. Accountability is a must.
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Problems are very similar to symptoms, in which these two things usually have underlying causes. In order to rid yourself of the problem forever, you have to remove the underlying cause as well.
Problems are very similar to symptoms, in which these two things usually have underlying causes. In order to rid yourself of the problem forever, you have to remove the underlying cause as well.
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Sometimes, change is good. With new theories and solutions available to manufacturing operations, it is important to change things up, This will ensure for managing stability in the long run.
Sometimes, change is good. With new theories and solutions available to manufacturing operations, it is important to change things up, This will ensure for managing stability in the long run.
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Understand what customers buy and use. This will provide thorough insight into what you can do to better your product and organize production families accordingly.
Understand what customers buy and use. This will provide thorough insight into what you can do to better your product and organize production families accordingly.
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It is important to analyze your competitors. Understand their customers, practices, product, and any form of competitive edge.
It is important to analyze your competitors. Understand their customers, practices, product, and any form of competitive edge.
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is essential within a manufacturing operation. Without quality control, your customers may be dissatisfied with the product you are creating. For a quality and durable product, you have to use the best materials, processes, and partners.
is essential within a manufacturing operation. Without quality control, your customers may be dissatisfied with the product you are creating. For a quality and durable product, you have to use the best materials, processes, and partners.
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FUNCTIONS OF MANAGEMENT
FUNCTIONS OF MANAGEMENT
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is an art of knowing what to do, when to do
and see that it is done in the best and cheapest way.
is an art of knowing what to do, when to do and see that it is done in the best and cheapest way.
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is a purposive activity. It is something that directs group efforts towards the attainment of certain pre determined goals.
is a purposive activity. It is something that directs group efforts towards the attainment of certain pre determined goals.
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It is the process of working with and through other effectively achieve the goals of the organization by efficiently using limited resources in the changing world.
It is the process of working with and through other effectively achieve the goals of the organization by efficiently using limited resources in the changing world.
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to create conditions which are conducive to maximum efforts so that people able to perform their task efficiently and effectively. It includes ensuring availability of raw materials, determination of wages and salaries, formulation of rules and regulations, etc.
to create conditions which are conducive to maximum efforts so that people able to perform their task efficiently and effectively. It includes ensuring availability of raw materials, determination of wages and salaries, formulation of rules and regulations, etc.
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It consists of board of directors, chief executive or managing director.
It consists of board of directors, chief executive or managing director.
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is the ultimate source of authorities and it manages goals and policies for an enterprise. It devotes more time on planning and coordinating functions.
is the ultimate source of authorities and it manages goals and policies for an enterprise. It devotes more time on planning and coordinating functions.
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The branch managers and departmental mangers constitute middle level.
The branch managers and departmental mangers constitute middle level.
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They are responsible to the top management for the functioning of their department. They devote more time to organizational and directional functions.
They are responsible to the top management for the functioning of their department. They devote more time to organizational and directional functions.
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is also known as supervisory/operative level of management.
is also known as supervisory/operative level of management.
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is also known as supervisory/operative level of management.
is also known as supervisory/operative level of management.
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It consists of supervisors, foremen, section officers, superintendent etc. They are concerned with direction and controlling unction of management.
It consists of supervisors, foremen, section officers, superintendent etc. They are concerned with direction and controlling unction of management.
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FUNCTIONS OF MANAGEMENT
FUNCTIONS OF MANAGEMENT
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FUNCTIONS OF MANAGEMENT- Most widely accepted are functions of management given by
FUNCTIONS OF MANAGEMENT- Most widely accepted are functions of management given by
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It is the basic function of management. It deals with chalking out a future course of action and deciding in advance the most appropriate course of actions for achievement of pre-determined goals.
It is the basic function of management. It deals with chalking out a future course of action and deciding in advance the most appropriate course of actions for achievement of pre-determined goals.
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To organize a business is to provide it with everything useful or its functioning i.e. raw materials, tools, capital and personnel's,
To organize a business is to provide it with everything useful or its functioning i.e. raw materials, tools, capital and personnel's,
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It is the function of manning the organization structure and keeping it manned. The main purpose of staffing is to put right man on the right job.
It is the function of manning the organization structure and keeping it manned. The main purpose of staffing is to put right man on the right job.
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It is that part of managerial function which actuates the organizational methods to work efficiently for achievement of organizational purposes.
It is that part of managerial function which actuates the organizational methods to work efficiently for achievement of organizational purposes.
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Direction is that aspect of management which deals directly with influencing, guiding, or supervising, motivating sub-ordinate for the achievement of organizational goals.
Direction is that aspect of management which deals directly with influencing, guiding, or supervising, motivating sub-ordinate for the achievement of organizational goals.
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It implies measurement of accomplishment against the standards and correction of deviation of any to ensure achievement of organizational goals. The purpose of controlling is to ensure that everything occurs in conformities with the standards.
It implies measurement of accomplishment against the standards and correction of deviation of any to ensure achievement of organizational goals. The purpose of controlling is to ensure that everything occurs in conformities with the standards.
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Henry Fayol has stressed on the specialization of jobs.
Henry Fayol has stressed on the specialization of jobs.
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refers to the right of superiors to get exactness from their sub-ordinates
refers to the right of superiors to get exactness from their sub-ordinates
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means obligation for the performance of the job assigned.
means obligation for the performance of the job assigned.
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A sub-ordinate should receive orders and be accountable to one and only one boss at a time.
A sub-ordinate should receive orders and be accountable to one and only one boss at a time.
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Henry Fayol advocates one head one plan which means that there should be one plan for a group of activities having similar objectivities
Henry Fayol advocates one head one plan which means that there should be one plan for a group of activities having similar objectivities
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This means of combination of fairness, kindness and justice.
This means of combination of fairness, kindness and justice.
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This principle is concerned with proper and systematic arrangement of things and people.
This principle is concerned with proper and systematic arrangement of things and people.
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Material order this means that there would be safe, appropriate and specific place of every article and every place to be effectively used for specific activity and commodity. Social order that selection and appointment of most suitable person on the suitable job.
Material order this means that there would be safe, appropriate and specific place of every article and every place to be effectively used for specific activity and commodity. Social order that selection and appointment of most suitable person on the suitable job.
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means sincerity, obedience, respect of authority and observance of rules and regulations of the enterprise
means sincerity, obedience, respect of authority and observance of rules and regulations of the enterprise
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This principle applies that subordinate should respect their superiors and obey their order.
This principle applies that subordinate should respect their superiors and obey their order.
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It means eagerness to initiate actions without being asked to do so. Fayol advised that management should provide opportunity to its employees to suggest ideas, experiences and new method of work.
It means eagerness to initiate actions without being asked to do so. Fayol advised that management should provide opportunity to its employees to suggest ideas, experiences and new method of work.
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The amount and method of remuneration to be paid to the workers should be fair, reasonable, satisfactory and rewarding of the efforts. Wages should be determined on the bases of cost of living, work assigned, financial position of the business, wage rate prevailing etc.
The amount and method of remuneration to be paid to the workers should be fair, reasonable, satisfactory and rewarding of the efforts. Wages should be determined on the bases of cost of living, work assigned, financial position of the business, wage rate prevailing etc.
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According to Fayol, "Time is required for an employee to get used to a new work and succeed to doing it well but f he is removed before that he will not be able to render worthwhile service"
According to Fayol, "Time is required for an employee to get used to a new work and succeed to doing it well but f he is removed before that he will not be able to render worthwhile service"
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The chain of superiors ranging from the ultimate authority to the lowest
The chain of superiors ranging from the ultimate authority to the lowest
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An organization is much bigger than the individual it constitutes therefore interest of the undertaking should prevail in all circumstances.
An organization is much bigger than the individual it constitutes therefore interest of the undertaking should prevail in all circumstances.
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It refers to team spirit i.e. harmony in the work groups and mutual understanding among the members.
It refers to team spirit i.e. harmony in the work groups and mutual understanding among the members.
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can be achieved through unity of command
can be achieved through unity of command
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means concentration of authority at the top level. It is a situation in which top management retains most of the decision-making authority
means concentration of authority at the top level. It is a situation in which top management retains most of the decision-making authority
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means disposal of decision-making authority to all the level of the organization.
means disposal of decision-making authority to all the level of the organization.
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is a detailed document that outlines how an organization will achieve its strategic goals and objectives through its day-to-day operational activities.
is a detailed document that outlines how an organization will achieve its strategic goals and objectives through its day-to-day operational activities.
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Clearly define the organization's mission statement and specific operational objectives that support its strategic goals.
Clearly define the organization's mission statement and specific operational objectives that support its strategic goals.
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Describe the key processes and procedures that govern the day-to-day operations, including production, supply chain, customer service, and more.
Describe the key processes and procedures that govern the day-to-day operations, including production, supply chain, customer service, and more.
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Detail how resources such as personnel, equipment, and finances will be allocated to support operations.
Detail how resources such as personnel, equipment, and finances will be allocated to support operations.
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Detail how resources such as personnel, equipment, and finances will be allocated to support operations.
Detail how resources such as personnel, equipment, and finances will be allocated to support operations.
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Identify key performance indicators (KPIs) that will be used to measure the success and efficiency of operations.
Identify key performance indicators (KPIs) that will be used to measure the success and efficiency of operations.
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Outline potential risks and contingencies for managing unexpected challenges or disruptions.
Outline potential risks and contingencies for managing unexpected challenges or disruptions.
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Explain how quality control measures will be implemented to ensure products or services meet desired standards.
Explain how quality control measures will be implemented to ensure products or services meet desired standards.
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If applicable, describe the supply chain processes, including sourcing, procurement, and distribution.
If applicable, describe the supply chain processes, including sourcing, procurement, and distribution.
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Specify the technologies and tools that will be used to enhance operational efficiency.
Specify the technologies and tools that will be used to enhance operational efficiency.
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Include a budget that outlines the financial resources required for operations and how they will be allocated.
Include a budget that outlines the financial resources required for operations and how they will be allocated.
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Clearly define roles and responsibilities of personnel involved in operations.
Clearly define roles and responsibilities of personnel involved in operations.
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is the process of determining the specific tasks, resources, and timeline needed to accomplish a particular objective or goal within an organization.
is the process of determining the specific tasks, resources, and timeline needed to accomplish a particular objective or goal within an organization.
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It involves identifying the steps that need to be taken, allocating resources such as budget and personnel, and establishing a timeline for completion.
It involves identifying the steps that need to be taken, allocating resources such as budget and personnel, and establishing a timeline for completion.
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is operational planning that relates to one project. It is discarded after the project is completed. This is useful if the project doesn’t align with another project or won’t be used again in the future. It can be customized to suit each project.
is operational planning that relates to one project. It is discarded after the project is completed. This is useful if the project doesn’t align with another project or won’t be used again in the future. It can be customized to suit each project.
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is operational planning that’s repeated. This plan is used by a department for tasks or projects that arise frequently. These plans will save you the hassle of having to reinvent the wheel every time. However, you will lose some flexibility.
is operational planning that’s repeated. This plan is used by a department for tasks or projects that arise frequently. These plans will save you the hassle of having to reinvent the wheel every time. However, you will lose some flexibility.
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Managers define the objectives and targets that the operation should achieve. These goals help guide the planning process.
Managers define the objectives and targets that the operation should achieve. These goals help guide the planning process.
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Managers allocate the necessary resources such as finances, manpower, equipment, and time to various tasks within the operation.
Managers allocate the necessary resources such as finances, manpower, equipment, and time to various tasks within the operation.
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They assign specific tasks and responsibilities to team members, making sure that each person knows their role and contribution.
They assign specific tasks and responsibilities to team members, making sure that each person knows their role and contribution.
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They assign specific tasks and responsibilities to team members, making sure that each person knows their role and contribution.
They assign specific tasks and responsibilities to team members, making sure that each person knows their role and contribution.
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Timeline Creation
Timeline Creation
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They identify potential risks or obstacles that could impact the operation's success and develop strategies to mitigate those risks.
They identify potential risks or obstacles that could impact the operation's success and develop strategies to mitigate those risks.
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Managers ensure that different departments, teams, and individuals work together harmoniously to achieve the operation's goals.
Managers ensure that different departments, teams, and individuals work together harmoniously to achieve the operation's goals.
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Throughout the operation, managers track the progress of tasks, making adjustments if needed to stay on track.
Throughout the operation, managers track the progress of tasks, making adjustments if needed to stay on track.
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If challenges arise during the operation, managers are responsible for finding solutions and making decisions to keep things moving smoothly.
If challenges arise during the operation, managers are responsible for finding solutions and making decisions to keep things moving smoothly.
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Sometimes plans need to change due to unforeseen circumstances. Managers are prepared to adapt plans while minimizing disruption.
Sometimes plans need to change due to unforeseen circumstances. Managers are prepared to adapt plans while minimizing disruption.
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Effective communication is crucial. Managers keep everyone informed about the plan, progress, and any changes, fostering transparency and alignment.
Effective communication is crucial. Managers keep everyone informed about the plan, progress, and any changes, fostering transparency and alignment.
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After the operation, managers analyze the results, gather feedback from team members, and evaluate the overall performance. This helps refine future planning processes.
After the operation, managers analyze the results, gather feedback from team members, and evaluate the overall performance. This helps refine future planning processes.
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This includes hotels, resorts, bed and breakfasts, hostels, and other places where tourists can stay.
This includes hotels, resorts, bed and breakfasts, hostels, and other places where tourists can stay.
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This includes airlines, railways, bus companies, taxis, and other modes of transport that tourists can use to get to their destination and around the destination.
This includes airlines, railways, bus companies, taxis, and other modes of transport that tourists can use to get to their destination and around the destination.
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This includes tour operators, guides, and other businesses that offer tours and activities for tourists, such as sightseeing, hiking, fishing, and diving.
This includes tour operators, guides, and other businesses that offer tours and activities for tourists, such as sightseeing, hiking, fishing, and diving.
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This includes restaurants, bars, and other businesses that sell food and drinks to tourists.
This includes restaurants, bars, and other businesses that sell food and drinks to tourists.
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This includes souvenir shops, clothing stores, and other businesses that sell goods to tourists.
This includes souvenir shops, clothing stores, and other businesses that sell goods to tourists.
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This includes museums, theme parks, historical sites, and other places that tourists can visit for entertainment or education.
This includes museums, theme parks, historical sites, and other places that tourists can visit for entertainment or education.
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This includes businesses that provide other services to tourists, such as currency exchange, laundry, and car rental.
This includes businesses that provide other services to tourists, such as currency exchange, laundry, and car rental.
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is the management of the flow of goods and services, which covers all procedures that develop raw materials into finished products.
is the management of the flow of goods and services, which covers all procedures that develop raw materials into finished products.
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It includes actively streamlining a company’s supply-side processes in order to optimize customer value and achieve a competitive advantage in the market.
It includes actively streamlining a company’s supply-side processes in order to optimize customer value and achieve a competitive advantage in the market.
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is a process by which a company strives to maintain or enhance the quality of its products. It includes testing units to see if they meet the criteria for the final product. Quality control develops safe techniques that can be employed to ensure that defective or damaged items do not reach customers.
is a process by which a company strives to maintain or enhance the quality of its products. It includes testing units to see if they meet the criteria for the final product. Quality control develops safe techniques that can be employed to ensure that defective or damaged items do not reach customers.
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is a method of tracking the flow of inventory. It begins with the procurement of commodities and their storage and progresses through the outflow of raw materials or inventory to reach the industrial units or the market, as appropriate. The procedure can be conducted out manually or automatically.
is a method of tracking the flow of inventory. It begins with the procurement of commodities and their storage and progresses through the outflow of raw materials or inventory to reach the industrial units or the market, as appropriate. The procedure can be conducted out manually or automatically.
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is the systematic analysis and improvement of business procedures in order to achieve optimum efficiency, effectiveness, and quality. The purpose of process optimization is to continuously eliminate waste, boost productivity, and eventually improve the bottom line of a firm.
is the systematic analysis and improvement of business procedures in order to achieve optimum efficiency, effectiveness, and quality. The purpose of process optimization is to continuously eliminate waste, boost productivity, and eventually improve the bottom line of a firm.
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is a style of thinking about how to create necessary value with fewer resources and less waste.
is a style of thinking about how to create necessary value with fewer resources and less waste.
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is a practice that entails constant testing in order to produce optimum value with zero waste. The work — the acts that directly and indirectly produce value for the customer — and the people who do that work are at the heart of lean practice.
is a practice that entails constant testing in order to produce optimum value with zero waste. The work — the acts that directly and indirectly produce value for the customer — and the people who do that work are at the heart of lean practice.
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comprises the planning and organizing of the resources of an organization in order to complete a certain work, event, or duty.
comprises the planning and organizing of the resources of an organization in order to complete a certain work, event, or duty.
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It can be a one-time project or a continuous effort, with resources such as staff, funds, technology, and intellectual property controlled.
It can be a one-time project or a continuous effort, with resources such as staff, funds, technology, and intellectual property controlled.
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is the process of determining the potential needs of your project. The goal of capacity planning is to have the right resources available when you'll need them
is the process of determining the potential needs of your project. The goal of capacity planning is to have the right resources available when you'll need them
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This sector includes hotels, resorts, guesthouses, hostels, and other types of accommodation establishments.
This sector includes hotels, resorts, guesthouses, hostels, and other types of accommodation establishments.
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These are companies that organize and facilitate travel packages, tours, and activities for tourists.
These are companies that organize and facilitate travel packages, tours, and activities for tourists.
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This sector comprises restaurants, cafes, bars, and other establishments that provide food and beverages to tourists and locals.
This sector comprises restaurants, cafes, bars, and other establishments that provide food and beverages to tourists and locals.
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This sector includes airlines, cruise lines, railways, car rental services, and other modes of transportation.
This sector includes airlines, cruise lines, railways, car rental services, and other modes of transportation.
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This sector focuses on providing recreational activities, cultural experiences, and attractions for tourists.
This sector focuses on providing recreational activities, cultural experiences, and attractions for tourists.
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This sector caters to travelers seeking adrenaline-pumping experiences and outdoor activities.
This sector caters to travelers seeking adrenaline-pumping experiences and outdoor activities.
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This sector involves organizing and managing conferences, conventions, exhibitions, and other events for business and leisure purposes.
This sector involves organizing and managing conferences, conventions, exhibitions, and other events for business and leisure purposes.
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This sector focuses on promoting responsible and sustainable tourism practices. It aims to minimize the negative impacts of tourism on the environment, culture, and communities while maximizing positive socio
economic benefits.
This sector focuses on promoting responsible and sustainable tourism practices. It aims to minimize the negative impacts of tourism on the environment, culture, and communities while maximizing positive socio economic benefits.
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This sector involves traveling to receive medical treatments, wellness retreats, and spa services. It combines healthcare services with leisure travel, offering opportunities for relaxation, rejuvenation, and medical care.
This sector involves traveling to receive medical treatments, wellness retreats, and spa services. It combines healthcare services with leisure travel, offering opportunities for relaxation, rejuvenation, and medical care.
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These organizations are responsible for promoting and marketing destinations to attract tourists.
These organizations are responsible for promoting and marketing destinations to attract tourists.
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