Found 597 Articles for Management

Introduction Competition advantage in simple terms refers to all the factors that allow a company to perform better than its competitors. It helps the business to produce more quality goods and services with reduced cost generating higher sales and profit. Anything that helps a company to attain an edge over its competitors and attract more customers to spread its market space is termed as competitive advantage. Primarily, it has three factors that leverage advantage over others. First is the cost advantage, where a business produces or provides a service at a lower cost when compared to its competitors. Next is ... Read More

Introduction Business Process Reengineering (BPR) is a management approach put forward by Michael Hammer, former professor of Massachusetts Institute of Technology. According to him, reengineering is the fundamental rethinking that initiates a radical change in overall business processes with a view to achieve drastic enhancement in performance, quality, delivery time and revenue. It aims at structurally changing the work flows targeting the entire organization. The reengineering approach concentrated on business out comes than the tasks involved. Involvement of information technology is crucial in designing and developing process flows and automating tasks to make it free of human errors. As the ... Read More

Introduction Business Process Reengineering (BPR) is the process of comprehensively revamping the existing business process with a view to create a dramatic return of investment by reducing cost and improving quality. Changes in customer preferences, tight competition in the market with superior goods and services, advancement of technology decreasing profits and higher operational costs all pave way to BPR. The primary aim of reengineering process is to boost the performance of a business to its optimum level possible. BPR initiates a quantum jump not only to the organization, but also to the external parties like suppliers and customers. Attaining ... Read More

Introduction Operations management is a management approach that conducts the complete production cycle of a product or service. Different concepts of operation, technologies and procedures are put to use to transform inputs into finished goods or services. The performance and efficiency of a business depends on how successfully the operations are managed. The process through which a set of input gets transformed into final output is called production. Productivity, on the other hand, refers to the rate of efficacy in which the production takes place. It is rather a concept of performance measurement that indicates the ratio of outputs in ... Read More

Introduction Operations management comprises of managing all business activities that facilitate input to output cycle. The term operations management was initially confined to production or manufacturing departments. However, the system has evolved through the years and is now used comprehensively to denote the management of day to day business activities of all units that finally channel towards the final product or services. Operations management aims at ensuring that the production process and overall operations across the business functions as efficient as possible. One of the main roles of operations management is to ensure the expenditure and costs of a company ... Read More

Introduction Business operations and its management is an inevitable part of all organizations irrespective of the sector. It comprises of all the activities that are involved in the procurement of inputs to the final delivery of goods or services. Numerous business processes and operations are engaged throughout the business cycle. Only effective management of these business operations help the company to deliver quality products or services with reduced cost and wastages. In other words, proper operations management helps to increase efficiency of a business. It comprises of all the steps and sub units that help channel the inputs to finished ... Read More

Introduction Operations management has a vital role in coordinating and managing functional units, business process and rules across departments. It acts as the main thread that connects every activity within a business towards achieving the final outcome. Operations management involves administering and monitoring business activities to ensure that they are functioning with maximum efficiency. An organization attains optimal performance only with the effective utilization of man, machine and resources involved. Operations management ensures this process balancing the costs incurred and inputs needed with the output obtained. It continuously strives to keep the profits high by reducing costs and increasing revenue. ... Read More

Introduction Business Process Reengineering is a management strategy that initiates a complete process and structural change leading to a drastic rise in business outcome. It is all inclusive of process redesign, change management and comprehensive transformation of business operations Structural transformation to changes in fundamental objectives and vision of the company might also be subject to change. Careful and meticulous examination of critical data from every functional unit and from the organization as a whole is crucial to ensure successful implementation of BPR avoiding pitfalls. The aim of BPR efforts should ideally lead to lower costs, reduced time cycles, high ... Read More

Introduction Business Process Reengineering as defined by Michael Hammer focuses on making a radical change on the process system as a whole to facilitate dramatic business outcomes. The traditional concept of automation or merely upgrading processes particularly with bulk investments in mechanization was not competent enough to deliver expected results. Incorporating technology without changing the existing structure and process of operations resulted only in speeding up operations. It failed to make an impact on business goals. A substantial boost in revenue can be reaped only by identifying and addressing the fundamental defects of process and underlying systems of the entire ... Read More

Introduction Innovation in Operations management refers to operational innovation. It is the practice of evaluating and developing new techniques to improve the existing business process. This approach of operational innovation is not restricted to a specific department or functional unit. It runs across the entire organization at all levels to review and revise all process and ongoing systems for advancement. It is used in conjunction with enhancing customer service, launching a new product or service or to intensify marketing strategies. Operational innovation puts new processes in place and does not limit its scope to routine performance improvement practices. It is ... Read More