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11th Class Chapter No 5 - Operations Management in Business Studies for IB

Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that businessoperations are efficient in terms of using as few resources as needed and effective in terms of meeting customer requirements. It is concerned with managing an entire production system which is the process that converts inputs (in the forms of raw materials, labor, and energy) into outputs (in the form of goods and/or services), as an asset or delivers a product or services. Operations produce products, manage quality and creates service. Operation management covers sectors like banking systems, hospitals, companies, working with suppliers, customers, and using technology. Operations is one of the major functions in an organization along with supply chains, marketing, finance and human resources. The operations function requires management of both the strategic and day-to-day production of goods and services.
Posted in 11th on February 13 2019 at 03:29 PM

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