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operations management in business

operations management is the necessary part of the business which helps in bring effectiveness in the business

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operations management in business

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  1. Operations Management in Business http://hndassignments.co.uk/

  2. Table of contents • Introduction • What are 3 E’s? • Importance of 3 E’s • Impact of the tension between Cost minimization and Quality maximization • Significance of performance objectives • Conclusion • References http://hndassignments.co.uk/

  3. Introduction • The presentation on Operations management includes the discussion about 3 E’s, PESTLE analysis of Prêt A manager and also the 5 important performance objectives will be discussed. http://hndassignments.co.uk/

  4. What are 3 E’s? • 3 E’s refers to Economy, Efficiency and Effectiveness. • These 3’s results in excellence in the business. • Economy refers to doing things in the most economic way which includes managing resources thereby minimizing the time and cost incurred. • Efficiency means doing things well and minimizing the wastes and providing best services • Effectiveness means doing things well which brings customer satisfaction http://hndassignments.co.uk/

  5. Importance of 3 E’s • 3 E’s helps in developing new ideas and bring innovation • They help in reducing costs and increasing the profits • It helps Prêt A manager to keep environment clean by reducing the wastes • Helps in develop good relationships with the customers http://hndassignments.co.uk/

  6. Impact of the tension between Cost minimization and Quality maximization • It can be measured by PESTLE Analysis • It includes Political, Economical, Social, technological, environmental and Legal problems • Political- The stake of McDonalds in the company increased its political power and it opened many stores worldwide. • Economic- The company has to recall its stores in Japan due to the hit in the economy http://hndassignments.co.uk/

  7. Cont… • Social – Fresh and organic food products creates its clan image in the minds of people • Technological- the company is using latest software's and technologies to reduce its costs • Environmental- The company is environment conscious and uses natural products instead of preservatives • Legal- The suits against the company filed by the customers http://hndassignments.co.uk/

  8. Significance of Performance objectives Five elements to be considered for customer satisfaction in Prêt A manager are: • Quality- It makes quality products to maintain health of the customers. • Speed- Different technology used increases the peed of the process of production • Dependability- Here, team works in a team to deliver the products on time • Flexibility-The business is able to respond to the changes in industry • Cost- The company aims at reducing costs and wastage so that profits can be maximized http://hndassignments.co.uk/

  9. Conclusion • The presentation can be concluded by stating that operations management is the necessary part of the business which helps in bring effectiveness in the business and also helps in reducing costs and increasing the profits http://hndassignments.co.uk/

  10. References • Collier, D.A. & Evans, J.R. 2014, OM: operations management, 5th ; student 5. edn, Cengage Learning Australia, South Melbourne, Vic. • Heizer, J.H. & Render, B. 2008, Operations management, 9th edn, Pearson Prentice Hall, Upper Saddle River, N.J. • Hill, A. & Hill, T. 2012, Operations management, 3rd edn, Palgrave Macmillan, New York;Houndmills, Basingstoke, Hampshire;. • Kolli, S. (2011). Production & Operations Management Essentials. New Jersey: Research and education association. http://hndassignments.co.uk/

  11. Contact Us • help@hndassignments.co.uk • https://www.facebook.com/hndassignmentsuk • http://hndassignments.co.uk http://hndassignments.co.uk/

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