Operations management is a key functional area of business management (Chase and Zhang 663). It is concerned with designing and controlling the process of production and other business operations related to the production and delivery of goods and services. Operations management professionals design the processes required to convert inputs (labour, raw materials, intellectual property, etc.) […]
This article deals with the basic concepts of operations management like operational efficiency, operational effectiveness, operational strategy, six sigma, etc. Operational Efficiency Operational efficiency refers to the ability of a business enterprise to produce and deliver products and services to the customers in the most cost-effective manner that is possible for it (Case, et al., […]
EXECUTIVE SUMMARY The hospitality industry is one of the leading service industries in the world and offers lucrative opportunities like foreign exchange, business investment, and foreign exchange. Resort business continues to be one of the fastest growing businesses when compared with other areas of the hospitality industry. The present report evaluates the management practices followed […]
INTRODUCTION Business process of an organization is an activity or a group of activities aimed at the achievement of organizational goals. Business process management (BPM) is a systematic approach to manage and improve these processes. Different businesses in different industries like retailing, manufacturing, advertising, etc. have their own business processes, helping them to achieve their […]
Introduction This chapter builds on the literature chapter will elucidate the research methodology used in the research process. The focus will be on explaining the research objectives and questions and presenting different research approaches and strategies. Research methodology includes research objectives, pilot-testing, data collection method followed, research tool used, problems faced, and any other limitations […]
INTRODUCTION Logistics refers to the management of the flow of resources between the place of origin and the place of their final utilization with the intention of meeting some purposes. Smooth operation of logistics function is important for the proper working of a firm. Effective logistics management is more important for large businesses which source […]
Introduction Companies can employ a limitless number of competitive strategies as the strategic approach of the company entails custom-designed approaches which can fit the company’s own circumstances and the conditions which are prevalent in the market. However, the major differences among the competitive strategies adopted by companies boil down to (1) whether the company is […]
The idea of value chain was first mooted by Michael Porter in the year 1980 to show how customer value is created over a chain of activities that conclude with the production of the end product/service. Porter’s value chain consists two major categories of business activities, viz. primary and secondary activities. Primary activities like inbound […]
Executive Summary Project management deals with the planning, organizing, coordinating and directing of the organization’s scarce resources to achieve a specific goal. Every company has a number of projects running at a given point of time. The success of any project is dependent upon the knowledge, skills, and abilities of its managers. In the given […]
INTRODUCTION The current paper talks about the global engineering strategy of Wolfcraft GmbH (Wolfcraft) of Germany. The company was founded by Robert Wolff in 1949 and spearheaded the establishment of the do-it-yourself industry in Germany (Wolfcraft n.d.). With its operations mostly limited to the borders of Germany, the company is headquartered in Kempenich in the […]