Operations Management Essentials

Business operations are an organization's processes and actions to create products and services. This procedure involves organizing, directing, coordinating, and managing various production-related activities to increase the company's value and profits. A company's operations are reviewed and modified occasionally to produce enough income to cover expenses and yield a profit for its owners and shareholders. No matter what processes you implement, inadequate business operations management can result in low productivity, poor service quality, and a decline in overall organizational performance. This course teaches you the concept of operations management and its types. You'll learn about the generally accepted principles and the equation of a balance sheet, including the categories of assets and liabilities that can arise in a business operation.

Next, we'll critically examine the operation strategy concept and operations' function in boosting a company's capabilities and refining its objectives. We analyze the four stages of an operation's functions and explore perspectives on operations strategy, such as the operations resources perspective, capabilities, and resource restrictions, including intangible assets. Business processes also need to be designed. We'll teach you the process design concept, objectives, and importance and demonstrate how you can control the flow of goods and services from manufacturing to consumption (supply chain management). We'll then discuss the goals, components, and benefits of supply chain management and how it works.

We'll delve into the process of writing an extensive business plan and show you the techniques to monitor and evaluate staff performance within a company to boost productivity. We'll investigate the key areas to focus on when managing business operations performance, including using performance journals to track the achievement of goals. Finally, you'll learn about the strategic plan pyramid, its components and benefits, SWOT analysis, the concept of a minimum viable product (MVP), and its advantages. This course is designed for all learners and doesn't require any prior knowledge. If you want to increase your company's value and generate profits, enroll and start this free course immediately!