¥ Business Management ¥ Us - 1790 Words

 ¥ Operations refers to the transformation processes of business and may involve the production of goods or the delivery of services  ¥ It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit and the administration of business practices to create the highest level of efficiency possible within an organization.  ¥ When operations are managed well, it makes the function of all other departments easier, and likewise, when operations are managed poorly, all other departments suffer.  ¥ Cost leadership is the minimization of costs in order to increase business efficiency and profitability  ¥ Supplier rationalization assists in cost leadership through reducing the number of suppliers, this simplifies supply chain complexity and enables savings on economies of scale  ¥ Economies of scale are cost savings arising from a business increasing its scale of operations. This is because per unit costs fall. When costs fall then cost leadership is increased.  ¥ Due to the size of the business, costs must be minimised.  ¥ Businesses achieve this through strategic alliances. This is an agreement between businesses that aims to reduce costs by setting goals and objectives while still remaining as independent businesses.  ¥ QANTAS has been able to negotiate lower fuel costs than smaller airlines because they require far more extensive quantities of it.  ¥ The benefits of strategic alliance an includes an increase in passengerShow MoreRelatedApplication Of A Enterprise Application1088 Words   |  5 Pagesapplication. Enterprise applications are the software application used by the enterprise users for performing business related tasks. It helps businesses become more flexible and productive by organizing their business processes more closely. 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InformationRead MoreChallenges Of Quality Based Competition For High Tech Product Market1449 Words   |  6 Pagesbecame an important sector of the Indian economy and a major foreign exchange earner for the country. The Shiv group was one of the largest industrial groups in India at this time established in the early 1900s. Having over 20 companies and a turnover of US $1 billion, they were market leaders in the sectors like tea, auto parts, electronics, finance, pharmaceuticals etc. In 2000, Shiv industry was going through a rough patch experiencing a steep fall in its earnings. The key reasons were its inabilityRead Morecase study1242 Words   |  5 Pagesï » ¿Case Study Question 1.How would you define â€Å"business process management†based on this video and text reading? How would you compare it to business process re-engineering, continuous improvement, and total quality management approaches? 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