[MNGT 3156] Operations Management & Total Quality Management

CADIZ, Alecsandra Dominic Y.

BS Accountancy 3A
Pre-lectio Activity 1

The Significance of Operations Management and Total Quality Management in

Business and its Role for Accountancy/Business
Management/Entrepreneurship Graduates

A crucial aspect of a business is Operations Management and Total Quality

Management. Firstly, operations management involves creating effective processes
that transform inputs into output, foreseeing future demands and making plans to
meet those demands efficiently, proper resource allocation, maintaining consistent
quality, process improvement, and data-driven decision-making. Consequently, total
quality management aligns with the overarching goals of operations management by
emphasizing the importance of quality, efficiency, and effectiveness in all processes
and activities.

With this, Operations Management and Total Quality Management hold

significant importance in the business landscape since they greatly influence
efficiency and cost reduction, customer satisfaction, an organization’s competitive
advantage, long-term sustainability, and stakeholder confidence among many others.
The combination of these two principles and their practices allows business to
optimize their processes, provide superior products and services, enhance customer
satisfaction, and remain competitive, especially in the current dynamic market
environment.

Alongside the significance of Operations Management and Total Quality

Management in the business industry, they are also crucial for Accountancy,
Business Management, and Entrepreneurship majors and graduates. Almost similar
with the benefits to the business industry, these principles provide a foundation for
efficient operations, strategic decision-making, risk management, and overall
success in our respective fields. As an accoutancy student, I expect this course to
help me learn how to optimize processes, allocate resources effectively, ensure the
quality of financial reports, audits, and other accounting-related tasks, contributing to
accurate decision-making and maintaining the integrity of financial data. These are
just a few of how these principles are crucial for business majors like me.

In summary, having sufficient knowledge on the course of Operations

Management and Total Quality Management, and integrating these principles in our
reality as Accountancy students would equip us with the skills needed to address
local challenges, support entrepreneurship, enhance business efficiency, and
contribute to the economic growth and sustainability of our future occupations.

Reference videos:
https://www.youtube.com/watch?v=renlXcpK9sk
https://www.youtube.com/watch?v=tdZOjBODtE4
https://www.youtube.com/watch?v=W_oErtmbSDU