The definition of management has always been pretty easy to understand but it is equally hard to implement. The fact is aside the definition in which the concept is framed which labels it as a process, management is a complex & synchronous process of several aspects.
In order to implement it, large enterprises go for the experts and hire people who excel at operations. Individuals with degrees like MBA in Operation management are specially trained to handle matters related to the domain. However, the people adept at operation management are expensive assets for a company. Perhaps that is the reason why
Small to medium-sized enterprises (SMEs) struggle with operational challenges during their growth spurt. Succumbing to that lot of SMEs prefer to move their manufacturing operations from low-cost countries to high-cost countries, reversing earlier off-shoring decisions.
More often than not, any kind company in the current business world are seen to be unable in figuring out the missing connections in their management activity. Operations management is among the crucial links which if identified and implemented properly in time, could help organizations in accomplishing their business goals. The handful companies who have understood how to exploit the operational efficiency has garnered more market share as compared to their competitors. The importance of operations management is something to be paid heed to for any company and give it the focus it deserves. Most of the organizations deploy operations management as a responsibility for co-ordinating other parts of functions. Factors like marketing, finance, human resource management are just a few among them which can be flagged as pivotal. The value of an operations manager in a company is very high as the responsibility of capacity management, decisions regarding locating the service, processing the management, technology management, human resource management and integration fall under their purview.
Ever since the scenario in modern business sector has shifted to the value management from its earlier stance of cost factorization, operations management has earned a lot of importance. Due to the advent of newer technologies and innovative solutions being provided, the business demographic has started adopting both the models. The importance of degrees in operations management are now parallel to something like an MBA in Marketing. Since the very essence of a business is to cater to the needs of customers through provision of services and goods the process to create value for customers has gotten paramount attention in the eyes of corporate leaders. In order to do so, the company needs to identify the customer needs and propagate their interests towards a specific product or service. Understanding the consumer behavior aptly and installing the necessary operational parameters is very important in contemporary times for any company to grow.