Upon completion learners will obtain an understanding of concepts and theories that shall include: Organizational performance improvement, decision making, risk management, ethics, time management, supervision, managing an operation and how to improve the operation, inventory management, procurement oversight within Operations and Management in Business.
Learners will develop an understanding that will include, yet not be limited to following topics and allow them to:
- Distinguish between different approaches to strategy making.
- Distinguish between strategic and operational issues.
- Recognize the different organisational levels at which strategy operates.
- Develope an understanding on the links between the stages of the strategy process: analysing, choosing and implementing strategy.
- Demonstrate knowledge of the range of financial and financial related risks facing organisations.
- Understand the approach to risk management through risk identification, risk measurement, and risk management (or mitigation).
- Understand reputational risk.
- Understand operational risk and how to manage it.
- Understand what a product is, the various levels which make it up, and different types of products.
- Understand how products can be classified, and the nature of the product line and product mix.
- Managing Inventory & Reporting
- Inventory Management: Aligning Inventory with Production and Demand
- Define ‘operations’ and ‘operations management’.
- Identify the roles and responsibilities of operations managers in different organisational contexts.
- Apply the ‘transformation model’ to identify the inputs, transformation processes and outputs of an organisation.
- Identify operational and administrative processes.
- Describe the boundaries of an operations system, and recognise its interfaces with other functional areas within the organisation and with its external environment.