Operation Management Essay Example | Topics and Well Written Essays - 2750 words

Operation Management - Essay Example Operations management must be strategized to enable competitiveness. Such can be achieved if the entrepreneurs proficiently practice financial management, customer care satisfaction, operation risk management, innovation and creativity in business management, as well as regular monitoring or evaluation of performance using standard index of measure. Other than protecting capital and investments from foreign exchange losses, it is also essential to undertake strengthening activities to improve organizational performance and to critically understand the market trend using behavior-analysis for them to nurture change adaptability especially when foreign exchange rate in the market is reel to fluctuate. Slack et. al. pointed that performance is improved if an organization is adherent to total quality control to do what is right to maintain an effective and quality operation that is cost-efficient; do functions and roles efficiently to effectively deliver services; perform jobs timely to nurture reliance in the delivery of goods and services; and to practice flexibility in the production of goods or delivery of services based on supply and demand situation in the market. 2.2 Operations performance for efficiency and competitive advantage Learn from experiences. Tardiness doesn’t favor business. Business must be dealt with efficiency thus, it is important for the organization to maintain effective operational technology to spare procedural dysfunction or breakdown; strengthen time utilitization as against absenteeism; and optimization of quality standards of job performance to develop a culture of efficiency in the workplaces. In so doing, entrepreneurs should produce goods with quality standards in accordance to policies and scale or context of economies. The organization must also prefer highly-skilled and well-trained human resources who are willing to out-perform other competitors in the market. As such, other than their inherent capacities, workers should be measured with their actual output as against goals and of key results as against the period of time allotted for the perfection of production or delivery of service. This is very significant in supply chain management of the retail industry. 2.3 Suppl y chain management in retailing Supply chain management (SCM) refers to the mechanism adopted by retailers in the performance of their business operation which specifically deal with the transport of goods and services from its production or site to its consumers (Kavcic, 2006). Retailing is the significant last step in this system where entrepreneurs match goods with consumers needs within the context of supply and demand relocations. SCM enhances organization’s performance to enable the integration and interaction of internal and external relations between suppliers, retailers, customers, or buyers.

Conferences and conventions Essay Example | Topics and Well Written Essays - 2250 words

Conferences and conventions - Essay Example Recently conferences and conventions have started extended facilities to delegate families and there is not a single economy which would say that it did not get benefited by conferences. "THE economic contribution of conferences to the Welsh economy is underscored in the financial results of the Cardiff Conference Bureau. This council initiative has won business for the city worth 1.7m during 2006" http://icwales.icnetwork.co.uk/0300business/0100news/tm_headline=conference-business-boosts-cardiff-by--pound-1-7m&method=full&objectid=18363801&siteid=50082-name_page.html Another face of conferences is the advantage being gained by tourism industry. By placing conferences in far away venues of cultural, naturalistic and historical backdrops, many countries and business have given enormous facelift to the tourism industry. This has given way to business tourism, considered today as a major branch of tourism. Britain is an important country that has been benefited by business tourism, mainly because it is reachable from all directions and has well developed, affordable venues. are rumoured to be affordable. One of the UK advertisements says: "Vibrant, dynamic cities, elegant spa towns combining tradition with state-of-the-art facilities and cosmopolitan seaside resorts... Britain has it all" http://www.visitbritain.com/VB3-nb-NO/businesstourism/conferencesconventions/conferences_conventions.aspx Indian cities with luxurious five star hotels and much cheaper economy have provided some more major business tourism destinations, where many international conferences and conventions are held today. The wildlife sanctuaries, historical monuments, natural wonders, religious temples have all... Conferences and conventions have created a global industry of their own. The origins of the conference industry are quite recent and it has been connected with business tourism and leisure tourism throughout. New trend of winning through partnerships has started in the business world. Business touring workshops are setting the trend. There are many direct expenditure benefits of conferences to the local area. In United Kingdom, conferences, meetings, conventions have created tourism benefit. Many conference venues and their neighbouring towns and cities usually become tourist centres for the convention representatives. According to a study conducted by UK National Tourist Board, with detailed figures of conference spending in the year 2001, total cost direct expenditure of one conference was  £1,092,960/-. Conferences and conventions also bring benefits to human resources, and employees. â€Å"Conferences are about communication†¦.An industry has developed to facilitate the satisfaction of the objectives of face to face communication: the conference industry. Suppliers to the industry are as diverse as their clients: Conference centres, hotels, specialist intermediaries, convention bureaux, caterers, production companies, and many others – all cooperate to create the right atmosphere and infrastructure, conducive to communication†