Session 1 Krajewski Chapter 1: Using Operations to Compete • • • Operations Management ! systematic design, direction & control of processes that transform inputs into outputs Process ! activity(s) that transforms inputs into outputs Operation ! group of resources performing one or more processes Functional Areas of business (acquires!fin.!Resources&capital! for!input)! Finance* Material!&! Service! Inputs! Operations* (material!&!service!into! outputs)! !!!!!!!!!!!!!!Support!Functions
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Suite 400, Burlington, MA 01803, USA First edition 2009 Copyright © 2009 Elsevier Ltd. All rights reserved No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone (144) (0) 1865 843830; fax (144) (0) 1865 853333; email:
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Brussels • Buenos Aires • Chicago • London • Mexico City San Francisco • Shanghai • Tokyo • Toronto • Washington, D.C. Special discounts on bulk quantities of AMACOM books are available to corporations, professional associations, and other organizations. For details, contact Special Sales Department, AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Tel.: 212-903-8316. Fax: 212-903-8083. Web site: www. amacombooks.org This publication is designed to provide
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Executive Sponsoring Editor: Lisé Johnson Senior Marketing Manager: Nicole Hamm Development Editor: Julia Perez Cover Design Manager: Anne S. Katzeff Senior Photo Editor: Jennifer Meyer Dare Senior Project Editor: Nancy Blodget Editorial Assistant: Jill Clark Art and Design Manager: Jill Haber Senior Composition Buyer: Chuck Dutton Cover photo credits Main image: © Bryan F. Peterson/CORBIS Lower left image: © Stockbyte/Getty Images Lower right image: © David Oliver/Getty Images Additional photo credits
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System: It is a fully coordinated and integrated system. ➢ Emphasis: Management control requires emphasis both on the search for planning as well as control. Both should go hand in hand to achieve the best results. ➢ Function of every manager: Manager at every level as to focus towards future operational and accounting data, taking into consideration past performance, present trends and anticipated economic and technological changes. The nature,
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environment and developing the capabilities and competencies to enable it attain success. It must be borne in mind that all firms have a strategy and that this strategy may be explicit or implicit, developed with extensive analysis or not. An organisation or firm’s strategy can generally be expressed in relatively simple terms, although this may hide complexity within it. When considering strategy, it must be realised that nothing about the firm is fixed; everything is variable. The strategy may change
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....................................................................................................... 7 3 Context of the Corporate Responses .................................................................................. 7 3.1 Insurance Industry Response ..................................................................................... 7 3.1.1 Insurance Coverage
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iibmindia.in www.iibmonline.com Author: VSP Rao Copyright © 2010, VSP Rao All Rights Reserved Produced and Printed by EXCEL BOOKS PRIVATE LIMITED A-45, Naraina, Phase-I, New Delhi-110 028 For IIBM Institute of Business Management Meerut - 250002 Distance Learning Education, IIBM Institute of Business Management The ultimate vision of this Institute is to ensure that all working executives and each young manager must possess the requisite research-oriented-business-acumen and the competitive managerial
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Table of Contents Task 1 2 Different types of organizations and the purpose 2 1.1 Purpose of organization 2 1.2 Meeting Stakeholders objectives 4 1.3 The responsibilities that the Sainsbury organization has and the strategies they employ to meet these responsibilities. 6 Task 2 8 2.1 Different economic systems and resource allocation 8 2.2 Impact of fiscal and monetary policies in Business Organization 11 2.3 Impact of Competition policy and other regulatory mechanisms on the business
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Brussels • Buenos Aires • Chicago • London • Mexico City San Francisco • Shanghai • Tokyo • Toronto • Washington, D. C. Special discounts on bulk quantities of AMACOM books are available to corporations, professional associations, and other organizations. For details, contact Special Sales Department, AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Tel.: 212-903-8316. Fax: 212-903-8083. Web site: www.amacombooks.org This publication is designed to provide
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