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The Marketing Department plays a vital role in promoting the business and mission of an organization. It serves as the face of your company, coordinating and producing all materials representing the business. It is the Marketing Department's job to reach out to prospects, customers, investors and/or the
community, while creating an overarching image that represents your company in a positive light. Depending on your company, the duties of the Marketing Department may include one or more of the following: The content displayed is for information only and does not constitute an endorsement by, or represent the view of, The Hartford. Chapter 1 Objectives:
����� a. Finance: responsible for securing financial resources at favorable prices and allocating those resources throughout the organization, as well as budgeting, ��� analyzing investment proposals, and providing funds for operations. ����������� b. Marketing: responsible for assessing consumer wants and needs, and selling ����������� and promoting the organizations goods and services. ����������� c. Operations:management of systems or processes that create goods and/or � provide services.
����������� ����������� Service: low percentage of goods, High percentage service, intangible ������������������������������������� ���output ����������� ����������� Manufacturing: high percentage of goods, low percentage service, ����������������������������������������� ���tangible output ����������� ����������� Differences: ����������������������� ����������� Degree of customer Contact ����������������������� ����������� Uniformity of input ����������������������� ����������� Labor contents of job ����������������������� ����������� Uniformity of output ����������������������� ����������� Measurement of productivity ����������������������� ����������� Production and delivery ����������������������� ����������� Quality Assurance ����������������������� ����������� Amount of inventory
����� What is the nature of the Operation Manager�s job? (9): The primary function ����� of the operation manager is to guide the system by decision making. He/she is the �������� key figure in the system: he or she has the ultimate responsibility for the creation ��������� of goods or provision of services.
����� The design of a production system includes long-range capacity, process ��������� selection, layout, design of work systems, and location. ����� The operations of a production system include quality control, aggregate planning, �������� inventory management, materials requirement planning, scheduling, supply chain ����� management, and project management. *See Table 1.5 for more information*
����������������� What: What resources will be needed, and in what amounts? How will ����������������������������������� ����� resources be allocated? ����������������� When: When will each resource be needed? When should the work be ����������������������������������� ����� scheduled? When should supplies be ordered? When is corrective ������������������������������������������� action needed? ����������������� Where: Where will the work be done? ����������������� How: How will the product/service be designed? How will the work be ����������������������������������� ����� done (organization, methods, equipment)? ����������������� Who: Who will do the work?
����� During the industrial revolution (1770s), goods were produced in small shops by ������ craftsmen and their apprentices. In the 18th century a number of innovations ���� substituted machine power for human power (steam engine). The development of ���������� the gauging system gave the industrial revolution a boost, reducing the need for � custom made goods. The scientific management era brought Fredrick Taylor�s ��� methods to light. He studied work methods of work to identify the best method ����������� for doing each job. His method�s emphasized maximizing output. In the early 10th ���������� century, mass production, interchangeable parts, and division of labor maximized �������� output in the automobile industry as well as others. The human relations � movement emphasized the importance of the human element in job design. �������� Managers became aware of the idea that worker motivation is critical to improve ��������� productivity.�� **See Table 1.7 on page 22 for timeline**
����� Although different organizations have different priorities, and are affected ��������� differently by trends, major trends that impact operations management are: ����������������� The internet, ecommerce, e business ����������������� Management of technology ����������������� Globalization ����������������� Management of supply chains ����������������� Agility ����� ����������������������� What are the 3 major functional areas of business organization?Every business is managed through three major functions: finance, marketing, and operations management. Figure 1-1 illustrates this by showing that the vice presidents of each of these functions report directly to the president or CEO of the company.
What are the two line functions in a business organization?Operations and sales are the two line functions in a business organization. All other functions—accounting, finance, marketing, IT, and so on—support the two line functions.
What are the major functional areas of business organizations and discuss how they interrelate?Most businesses have four main functions: marketing, operations, accounting and finance, and human resources. We may refer to them as departments or divisions. Each department is managed by individuals with specific skills and qualifications in the functional area of work.
Which are devoted by Operations Management is defined as the activity of managing the resources?Operations management is the activity of managing the resources which are devoted to f 2. Planning, organizing, staffing and controlling are all basic management functions.
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