Introduction To Business Operations And Management assignment
Get free written samples by subject experts and Assignment Writing Help in UK.
Business is an economic activity that involves the manufacturing, sales and services of products that are traded on for profit making purposes.
The need of business is that human beings require commodities for their survival and to meet those needs trading systems have been developed (Doern et al. 2019). The existence of business involves entrepreneurs and business is executed for profit earning motives. It has an important role to play in a country’s economy.
Different steps are followed for deciding the priorities of business and objectives. They mainly deal with evaluating the vision of the business, setting the goals and identifying the strengths and weaknesses. It is important to do the market analysis and also a check of the threats from the competitors (Kim et al. 2022). Checking the position of the company in terms of the competitive advantage is also a part of the business process. Tracking the record of progress and constant evaluation is necessary for the sustainable functioning of a project. The priorities of the projects are set based on these areas of functioning. The business objectives are set by setting the short-term and the long term goals of the project. Achievable targets must be set to attain the goals that have been set for the business.
There are majorly four types of business that are:
Sole Proprietorship, Partnership, Limited Liability Company, and Corporations.
Modern business deals with the implementation of the advanced technologies so as to analyse the different benefits, and the competitive advantages the company holds over its competitors. The modern business keeps into account the environmental aspects and tries to contribute to Corporate Social Responsibility. The modern business remains closely aligned with its stakeholders. The investors, suppliers, customers, trade associations and others are the stakeholders of the company.
It needs to be noted that supply chain management has an important role to play in the management process. Any kind of business needs to have an effective supply chain management so that the customer satisfaction can be ensured (Wong et al. 2020). There are different steps involved in the process of supply chain management that includes purchase of raw materials, converting into finished goods and delivering it to the customers. Some businesses may involve the distribution process. The supply chain functioning can ensure the long-term functioning of a business.
Therefore, it can be stated that supply chain management is the variety of functions that involves different steps. The steps of supply chain management starts with the purchase of the raw materials and ends with the delivery of the finished goods to the customers (Kamble et al. 2020). It needs to be kept in mind that the entire process needs to be carried out in a cost effective manner.
The supply chain management comprises five important areas that involve: the planning of supply, planning of production, inventory planning, planning of capacity as well as the distribution planning.
The planning of supply deals with fixing the products to be produced for catering to the demand of the customers. The aim is to create a balance between the supply and demand of the customers. The planning ensures in fulfilling the requirements that have been derived by analysing the demands of the products.
In the planning of production the manufacturing of the commodity is taken care of. Based on the required number of units of the product the allocation of resources is done and then the job responsibility is divided based on the workload.
In order to plan, the supply chain and the relation development with the suppliers and the retailers needs to be kept under consideration.
The inventory management is used for determining the maximum units of products that can be produced based on the given time period.
It needs to be considered that the capacity planning involves the number of staff required to complete the production of the intended units. It needs to be noted that the number of equipment that are required for production is also kept into consideration. The Distribution process deals with the network planning and supply chain to enhance the market.
Difference between services and manufacturing
The manufacturers have a general path for manufacturing different kinds of products. The goods that are being produced throughout the factory are being done within a firm-efficient environment. One completed manufactured product is being considered as the module for the next investment. On the other hand, the services are considered as the standardised path of providing services rather than manufacturing products (Liu et al. 2018). Throughout different consumption of the service are being generated, the service operations are being intangible work that may not be easily detected. The service processes are therefore categorised into different companies whether the hospitality are being differentiated such as banking. Insurance, advertising, consultancy, and many more. There are different opportunities for complicated service whether the industry is based on the manufacturing organization that starts selling their services. Whether there are potential opportunities, a different sales approach is being added to the plan of competitions from the workers that are not always the same.
Principles of Project Management
Every business needs proper project management in order to meet the goal of the respective business. A great leader can be a great asset for every business as they can operate the whole business with a proper manner (Efremov et al. 2021). Maintaining the business with an exact strategy is essential. The marketing mix strategy is something that every organisation needs to implement in their respective business organisation. On the other hand a proper supply chain is also needed. Furthermore, every business industry needs to maintain the corporate social responsibility in order to increase the brand loyalty of their respective business.
Quality control process
Maintaining the quality of the products in a part of the marketing mix. Maintaining the quality of the products can enhance the sales margin. The majority of people basically want a good quality of the products rather than anything else. Products with good quality with affordable price is always an attractive thing towards the customers. Based on that, maintaining the quality of the products needs to be the first focus point for any organisation.
The operating function of the business puts forward the growth of different opposition. In maintaining the function of work availing the growth surrenders it rise on different aspects.
A business rises up through the practical and workable means of evaluating its business implementations. The process of implementing functions begins from setting a goal in operation to the business stage. The management system of the company should set attainable objectives with different targets (Jackson, et al. 2018). Therefore to bring improvement in business operation it has a requirement of stating different toots and software system. The operation of business also leads to several actions and motives of centralized ideas in growth function.
The function of organized business and its changes gives success to the growth in business. It also involves the ethical use of requirements in the job of organized business progress and different principles of human resources (Ferreira Gregorio, et al. 2018). Hence looking forward to the management condition of a business is a symbol of a sword with the team buildings and the principle of working inside a team.
The organizing of a business has a valuable critic such as
The goals and business plans: The strong methods that are made to reach the circumstances to build a business successfully have it to help the installing function to higher growth. In proving the state of business the condition planning of business success with spinning chain and the building of production also use the sincere growth.
Motivations for the business growth: it is highly dependent on the motivation of a company for its growth reliable in the function of high method and high process. When it is motivated to high efficiency it takes back to the workout and customizable organization of team equality. The system of equality also motivates the work culture of a business to work fast.
Plans of business requirement: The plot planning of developing a business enhances the quality of the business requirement in the different viewpoint of leaders. The utilization of a plan for business depends on the work progress and requirements in reaching the business prospectus on a successful business. The frequent method brings different focus under relative conditions and proposes friction.
Workload management: In function to manage the workload it is important to know the concentration of the business that is managing award of a company that sells its business for higher growth and higher production. Condition of the growth the business also he did the word management so that the compressive word can be produced by the company to the employees
The function of team managing: In relating to the management of a team the system of proper leadership is required to continue the function and growth infraction of an organization. The building system of a team required the proportion of work and ethic to measure its condition from different sides and knowledge of growth (Wang, et al. 2022). The back work for an organization takes a leader to understand its growing function and conditional thoughts
The outcome from the manager is to control the proceeding condition of a sector that evaluates the central idea of different work criteria. The depending function of the company brings forward the review to get the attach activity on different function and ability to work fast in the process of bringing up a business more frequently. The static condition of business interfaces with various directions and grieves its equal power (Herrera and de las Heras-Rosas, 2020). In referring to the manager the business grows from its hardship and leading capacity of a business. The manager produces the goods emphasize on different viewpoints. The region of developing the function of the business quality has the observant on a different process to lead on the trade cycle. In friction to develop a business the requirement of a manager plays a frequent role in gathering the function of systematic trade.
According to the principle of Human Resource Management, the evaluation shows the market equality and center of the profit equation. The thorough knowledge shows the interdependence between both functions of resources from different cultures and sectors of business development (Grail, et al. 2019). The principal shows the importance of different commitments to work efficiently, cost managing production, and compatibility. In similar to the acceptance it is mentioned out the nine focus condition of the different processes such as the growth of the individual, right of selection, the condition of fair pay, and allowing equal participation, it also signifies the function is the intensive presence on the presence of labor and even the management of the labors. The frequent time being the principal also attached with the work of the team in concluding the national prosperity of the function in business.
Meaning of a team is required to organize every particular individual to work together and form the difference between the company and business equality. Working together in the team and maintaining distinct decision-making of a company of observing its overview and ethical consideration. It also depends on the condition of the market situation and energizes the business still the growth of the power and equality (Aroles, et al. 2021). The presence of Team management functions from the most vital role and kills the team to lead the successful growth in the business market ship. That team management is important
This project concludes the condition of different functions of business purpose and ethical views on a trading function. The Introduction to business operations and management function of business progress and managing condition of the frequent transformation of the business into high graded of occupations. The evaluation of this project deals with the process management and the function of the business of today. This project includes the basis of operation and its management condition that could be taken to manage a business properly the result of this project makes a clear fuel on the merging of a business together with its operation and also its management section so that the rise moves forward.
Aroles, J., Hassard, J. and Hyde, P., 2021. The discursive construction of culture through business: Exploring hegemonic linguistic performativity in the UK museum sector. Organization.
Doern, R., Williams, N. and Vorley, T., 2019. Special issue on entrepreneurship and crises: business as usual? An introduction and review of the literature. Entrepreneurship & Regional Development, 31(5-6), pp.400-412.
Efremov, A.A., Golubev, S.S. and Sekerin, V.D., 2021. Principles of Project Management During the Design and Implementation of the Defense Industry Development Programs. REVISTA GEINTEC-GESTAO INOVACAO E TECNOLOGIAS, 11(4), pp.424-440.
Ferreira Gregorio, V., Pié, L. and Terceño, A., 2018. A systematic literature review of bio, green and circular economy trends in publications in the field of economics and business management. Sustainability, 10(11), p.4232.
Grail, J., Mitton, C., Ntounis, N., Parker, C., Quin, S., Steadman, C., Warnaby, G., Cotterill, E. and Smith, D., 2019. Business improvement districts in the UK: A review and synthesis. Journal of Place Management and Development.
Herrera, J. and de las Heras-Rosas, C., 2020. Corporate social responsibility and human resource management: Towards sustainable business organizations. Sustainability, 12(3), p.841.
Jackson, G., Doellgast, V. and Baccaro, L., 2018. Corporate social responsibility and labour standards: Bridging business management and employment relations perspectives. British Journal of Industrial Relations, 56(1), pp.3-13.
Kamble, S.S., Gunasekaran, A. and Gawankar, S.A., 2020. Achieving sustainable performance in a data-driven agriculture supply chain: A review for research and applications. International Journal of Production Economics, 219, pp.179-194.
Kim, T.W. and Routledge, B.R., 2022. Why a right to an explanation of algorithmic decision-making should exist: A trust-based approach. Business Ethics Quarterly, 32(1), pp.75-102.
Liu, T., Bruins, R.J. and Heberling, M.T., 2018. Factors influencing farmers’ adoption of best management practices: A review and synthesis. Sustainability, 10(2), p.432.
Wang, S., Guo, M., Hu, Y.X., Chiu, Y.K. and Jing, C., 2022. Smart manufacturing business management system for network industry spin-off enterprises. Enterprise Information Systems, 16(2), pp.285-306.
Wong, H.M., Amalathas, S.S. and Zitkova, T., 2020. A business operation stability by improving the speed of restoration on software application service. Management, 8(1), pp.60-68.