Activity No.

1
1. Define operations management and the functions associated with it.
Operations management is concerned with transforming commodities and labor
as effectively as possible into goods and services in order to optimize an organization's
profit. It entails making use of personnel, materials, equipment, and technology. Failure
to manage the company’s operations will produce huge losses for the business.
Finance and operations are two of an organization's fundamental functional areas.
Finance is an important part of operations management. It is vital to maintain that
financial resources are correctly allocated and utilized to the greatest extent possible.
Proper financial utilization and allocation will allow for the creation of a product at the
lowest possible cost while also meeting overall consumer demands. Operations, on the
other hand, is the fundamental purpose of operations management and will effectively
aid in transforming raw materials and human efforts into a long-lasting product and
service that consumers can use. It is responsible for the overall planning, organizing,
directing, and control of all activities inside the company. The manufacturing facility will
be able to enhance its output if the operations within manufacturing lessen the number
of setup required and increase the exploitation of available resources.

2. Contrast the operations management in a company that produces goods with

company that offers services.
The main purpose of all manufacturers is to turn raw resources into finished
goods. To carry out this duty, manufacturers must always strive to improve operational
efficiency. The functional responsibility for developing an organization's services and
delivering them directly to its customers falls to operations management in the case of
services. The operation's manager is responsible for making the decisions required to
attain these goals. These decisions have an impact on the company's manufacturing
and shipping process, as well as personnel, information, and technology.

3. In ensuring ethical and social responsibilities in business, what are some challenges
in operations that a company may face?
Ethical difficulties in the workplace can be an unexpected and challenging issue
for any management. Workplace harassment and accounting concerns are two
examples of current ethical problems. Harassment is an ethical issue involving the
social and personal conduct of employees in the workplace. It involves teasing, sexually
inappropriate behavior, and even verbal or physical assault by a coworker or a non-
employee that produces a hostile work environment. Bullying an employee with a
serious disability is also considered workplace harassment. These could have
disastrous financial and reputational consequences. Falsifying financial papers
jeopardizes a company's reputation. By both ethical and judicial norms, fooling investors
and those with a stake in a company's finances is a significant felony. Penalties might
include fines, imprisonment, and the shutdown of a business. Knowing how to recognize
and prevent these issues from becoming a crisis helps to focus on business growth
rather than remediation.

4. Discuss the advantages and disadvantages of the different operations strategies.

A business organization's strategy is primarily about how the organization
attempts to survive and thrive in its environment through time. Corporate level strategy,
business-level strategies, and functional strategies are the three levels of strategy in an
organization. Corporate level strategy is the top level of strategy. It establishes the
organization's long-term direction and scope. One negative is that a corporation will
have to spend money to obtain multiple pieces of information, which might transform a
profitable investment project into a resource drain with no return. Business-level
strategy is largely concerned with how a certain business entity should compete within
its sector, as well as its strategic goals and objectives. When deciding on a business-
level strategy, a company must carefully monitor its operations and avoid complacency.
Individual function strategies are focused on how each function contributes to the
corporate strategy, what their strategic goals should be, and how they should use their
assets in pursuit of those objectives. Although a functional-level strategy can provide
department heads some autonomy, issues arise when each department head places
too much focus on executing their departmental functional goals; the overall outcome
can be a loss of productivity across the organization.