Importance of operational management in BMW
PRODUCTION & OPERATIONAL MANAGEMENT
ASSIGNMENT TITLE:
IMPORTANCE OF OPERATIONAL MANAGEMENT IN A COMPANY
PREPARED BY: ZUBAIR ALVI
ROLL # 1947
COMPANY CHOSEN:
BMW
(Bavarian Motor Works)
IMPORTANCE OF OPERATIONAL MANAGEMENT IN A COMPANY
An effective operation can give four types of advantages to the business:
Operations management can reduce the cost of products and services by being efficient.
Operations management can increase revenue through increase customer satisfaction in producing quality goods and services.
Operations management can reduce the amount of investment (capital employed) necessary to produce the goods and services by being effective and innovative in the use of resources.
Operations management provide the basic for innovation by building a solid base of operations and knowledge.
IMPORTANCE OF OPERATIONS MANAGEMENT FOR BMW
For diverse firms such as BMW, the field of operations management is extremely important. Following points stress the importance of operations management in BMW:
Team Management: Team management is an important aspect of Operations Management as it outlines the working methodologies of an organization (McDonald, 2005). Further, this aspect gains even greater importance in context of multidimensional organizations like BMW as it largely supports cross functional teams in order to better solve problems (McDonald, 2005). BMW believes that just by looking at it, cross functional teams often look inefficient and messy but they are extremely efficient at solving problems that require diverse thinking.
Change Management: Change Management forms another important aspect of Operations Management in an organization related to the automobile sector. This is in order to manage the lightening fast changes that are currently taking place in the auto industry. BMW predicts that currently, around 20 percent of a car’s value is driven by electronics (this level is continuously raising.
Strategic Management: This category of operations
ASSIGNMENT TITLE:
IMPORTANCE OF OPERATIONAL MANAGEMENT IN A COMPANY
PREPARED BY: ZUBAIR ALVI
ROLL # 1947
COMPANY CHOSEN:
BMW
(Bavarian Motor Works)
IMPORTANCE OF OPERATIONAL MANAGEMENT IN A COMPANY
An effective operation can give four types of advantages to the business:
Operations management can reduce the cost of products and services by being efficient.
Operations management can increase revenue through increase customer satisfaction in producing quality goods and services.
Operations management can reduce the amount of investment (capital employed) necessary to produce the goods and services by being effective and innovative in the use of resources.
Operations management provide the basic for innovation by building a solid base of operations and knowledge.
IMPORTANCE OF OPERATIONS MANAGEMENT FOR BMW
For diverse firms such as BMW, the field of operations management is extremely important. Following points stress the importance of operations management in BMW:
Team Management: Team management is an important aspect of Operations Management as it outlines the working methodologies of an organization (McDonald, 2005). Further, this aspect gains even greater importance in context of multidimensional organizations like BMW as it largely supports cross functional teams in order to better solve problems (McDonald, 2005). BMW believes that just by looking at it, cross functional teams often look inefficient and messy but they are extremely efficient at solving problems that require diverse thinking.
Change Management: Change Management forms another important aspect of Operations Management in an organization related to the automobile sector. This is in order to manage the lightening fast changes that are currently taking place in the auto industry. BMW predicts that currently, around 20 percent of a car’s value is driven by electronics (this level is continuously raising.
Strategic Management: This category of operations