Please enable JavaScript.
Coggle requires JavaScript to display documents.
Unit 5 - Coggle Diagram
Unit 5
Operations man
The operations management function is responsible for the production of a firm's goods and services.
Although it is arguably the most important function of a business, it could not function without the other functions in the business.
In a product-based company, it will design new products, set up manufacturing facilities and supply chains and run the company's factories to guarantee the products are produced on time for the customer.
-
efficiency
-
balancing competing aspects of production to ensure products are produced as effectively as possible, whilst also adding as much value as possible.
sustainability
the ability to continue a behaviour indefinitely.
A business should organize its operations in such a way as to ensure that actions today do not have a negative impact on future generations.
types
-
Social sustainability
the practice of managing a company's impact on people, including employees, supply chain workers, customers, and local communities.
Economic sustainability
the practice of generating long-term financial growth and profit while responsibly managing environmental and social resources without harming future generations.
factors of production
The more efficient a business is at using them, the more competitive they will be.
land, labour, capital, enterprise