ASSIGNMENT … FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 4: Management and Operations (488)
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I. Introduction
Company information, main points – structure of the writing
II. Key approaches to operations
a. Lean production
Lean manufacturing is a way of removing waste from a manufacturing system
through a systematic approach (Techopedia, 2021). It considers the waste produced
by unequal workloads and overload, and then decreases it in order to maximize
value while lowering expenses. The term "lean" simply means "no excess," therefore
lean manufacturing may be interpreted as "minimum waste manufacturing."
b. Six sigma
Six Sigma is a collection of quality-control technologies that companies may employ
to reduce faults and optimize processes in order to increase profitability (Adam,
2021). It was created by a scientist while working at Motorola in the 1980s. Six Sigma
is a statistical and data-driven approach that examines and eliminates minor errors
or flaws. It focuses on improving cycle times while lowering manufacturing fault
rates to no more than 3.4 per million units or events. This suggests that a six-
standard deviation event from the mean is likely to result in an error since only 3.4
out of a million occurrences along a bell curve would fall outside of six standard
deviations.Six Sigma is a management philosophy that emphasizes statistical
improvements to a company process and emphasizes qualitative success
assessments above qualitative indicators. As a result, Six Sigma practitioners are
businesspeople who increase business functioning via the use of statistics, financial
analysis, and project management. Six Sigma is a statistical metric that demonstrates
how well a business process functions. As previously stated, an error arises when an
event deviates six standard deviations from the mean and occurs less than 3.4 times
per million events. This indicates that if a process generates less than 3.4 mistakes
per million possibilities, it is deemed efficient. Anything created that does not meet
the expectations of the customer is referred to as a fault.
 => DMAIC is a statistically based approach that businesses use as a mental
foundation for improving business processes. According to the concept, any
seemingly insoluble problem can be solved by following the five DMAIC steps:
1. A group of individuals, lead by a Six Sigma champion, decides on a broken process
to focus on, based on an examination of the company's goals and needs. This
description explains the project's challenge, objectives, and deliverables.
2. The team assesses the process's first performance. These statistical indicators
assist the team analyze the process's benchmark performance and create a list of
probable inputs that might cause the problem.
3. The team next evaluates the process by isolating each input, or possible cause of
failure, and putting it to the test as the source of the issue. The team use analytics to
determine the source of process failures.
4. From then, the team strives to enhance the system's performance.
5. The team adds controls to the process to guarantee that it does not regress and
become ineffective.
c. Queuing theory
Queuing theory is an area of mathematics that investigates how lines form,
function, and break down (Mansa, 2021). The arrival process, service process,
number of servers, number of system spaces, and number of customers—which
might be humans, data packets, automobiles, or anything else—are all investigated
in queueing theory. Queuing theory's real-world applications span a wide number
of industries. Its findings might be utilized to improve customer service, boost
traffic flow, optimize warehouse order shipping, and construct data networks and
call centers. Queuing theory is an area of operations research that may help
businesses make better judgments about how to construct more efficient and cost-
effective workflow systems.
Benefits :
- In order to improve total customer service, queueing theory is often utilized as an
operations management strategy to assess and simplify workforce needs,
scheduling, and inventory. Six Sigma practitioners frequently utilize it to enhance
processes.
- Queuing psychology is linked to queuing theory. This is the part of queuing that
addresses the natural annoyance felt by many individuals who are forced to line for
service, whether it's at the grocery or while waiting for a webpage to load. One
remedy to consumer frustration is to offer a call-back option while waiting to talk
with a customer service person over the phone. A more traditional example is the
customer service number system used by many delis to allow customers to follow
their progress to the head of the line.
d. TQM/Kaizen/JIT (choose 1 and give examples)
e. Management by objectives
Management by objectives (MBO) is a strategic management strategy that tries to
enhance an organization's performance by clearly identifying objectives that both
management and employees agree on. Having a say in goal-setting and action plans,
according to the notion, increases employee engagement and dedication, as well as
synchronizing objectives across the firm.
Advantages and Disadvantages:
+ MBO has several benefits and drawbacks for a company's performance. Employees
take joy in their job and set objectives they know they can attain as a result of the
rewards. Employees' abilities, skills, and educational experiences are also aligned.
Management and staff communication improves as a result of MBO. Assigning
personalized goals to employees instills a sense of significance in them, resulting in
increased loyalty to the company. Finally, management may set goals that will lead
to the company's success.
+ MBO has a number of advantages, but it also has certain disadvantages and
restrictions. Because MBO is so focused on objectives and targets, it frequently
overlooks other aspects of a business, such as corporate culture, a healthy work
ethos, and opportunities for engagement and contribution. Employees are put under
more pressure by MBO to fulfill targets within a certain time range. Furthermore,
relying only on MBO for all management tasks might be difficult for sectors that do
not fall within MBO.
f. SMART Objectives
SMART Objectives are a collection of objectives and goals that are set in motion by
parameters and provide structure and tractability (Manager,2020). SMART goal
planning establishes a verifiable path to achieving a specific goal, complete with
explicit milestones and an expected timescale.
Samsung has set a number of objectives for 2020. Samsung has established targets
such as having a 5G network by 2020, producing $400 billion, and being one of the
top ten worldwide corporations by 2020 (Wordpress, 2021). In order to attain the
goal, SMART Goals, which contain first and foremost Specific Goals, are outlined in
2020. The SMART component's quantifiable aim is compensated for by releasing
$400 billion in revenue and 5G networks. Furthermore, the rapid expansion of 4G
networks and Samsung's increasing income demonstrate the possibilities.
Furthermore, Samsung's fame has allowed them to achieve lofty ambitions. Finally,
given the 10-year term that Samsung has, Samsung's aim is on schedule. First,
Samsung will maintain its leadership position in memory chips, LCD displays,
televisions, and mobile phones, as well as six other areas including as home
appliances, computers, and printers. Second, it will pave the way in new fields such
as biochips, medical devices, medical services, and solar cell production in order to
fulfill customers' ever-increasing demands. Third, it will improve the study of client
groupings and lifestyles, making it easier to implement various marketing methods.
Fourth, it will seek "open innovation," which will welcome external funding, enhance
R&D alliances, and develop different channels of collaboration with other
institutions. Fifth, it will cultivate a mature symbiotic connection with collaborators,
increase corporate social responsibility, and pursue a more ecologically friendly
company model. Finally, it will use an innovative performance evaluation system and
improved human resource management to create a healthy working environment.
At the conclusion of the day, 400 employees were present for the target
announcement. The targets were announced in front of 400 employees. The targets
were announced in front of 400 employees.
III. Operations manager's roles
a. Operations manager's roles
The Samsung manager performs an essential function, primarily contributing to the
file's efficiency and progress. They ensures a variety of games with his
responsibilities. The core game that all managers must play may be summarized as
follows:
- Roles in communication and relationships:
+ The file that the individual handles is represented on the outside.
+ Because there is a leader on the inside, everyone works together to achieve a
common objective.
- Role of information:
+ Collect data from your subordinates.
+ Get information from superiors and disseminate it.
+ Outsiders should be informed.
- Determinant role:
+ This is the manager's most crucial function.
+ A manager is someone who has the authority to make choices and is accountable
for them.
=> A manager must execute the following particular functions in order to achieve
the goals and tasks provided by the superior:
1. Creating a conducive environment for collaborative work:
Managers must work along with their team, upper management, and all other
employees in the organization. In general, a competent manager must prioritize the
interests of the whole group. The manager's primary responsibility is to strike a
balance between the unit's needs, the demands of senior management, and the
needs of the personnel.
2. Inspiring and fostering a sense of belonging:
A group's two primary components are good morals and team spirit. Enthusiasm,
rewarding outcomes, and joy may be the core of cooperation. It may start with
something as simple as a bouquet of flowers on the table, a hilarious artwork on the
bulletin board, or a cake. In other words, such acts must be sufficiently carried out to
demonstrate to employees that their supervisors care about them. Employees will
then put up their utmost effort for the common good.
3. Ensure colleagues' safety and security:
People constantly require safety in order to execute a work in the most beneficial
manner. Managers will never be successful if they put their colleagues' safety and
health at risk; associates are the purpose for which managers must seek their
assistance and loyalty. This instils in them a sense of trust and security.
4. Disseminate information and experience:
Talented managers frequently devote a significant amount of time to strengthening
the talents of their subordinates, passing on their own knowledge and experiences
so that they might progress. The manager has taught his future replacement, a
character capable of promotion, by this activity, which makes it much more relevant
to motivate his employees.
b. How OP managers can improve efficiencies of operational management to
successfully meet business objectives
- The word "operations management" refers to the coordination and conclusion of
major business activities that lead to the achievement of corporate goals and
objectives. Operations management focuses on aligning operations with the
organization's goals, assisting the company in reaching its goals. Though it may
appear that this is too broad to encompass routine everyday duties, there are
several examples of how strong operations management may increase a company's
efficiency:

 Governing Mechanism

The role of operations management in business operations may be translated by

seeing it as a centralized governance mechanism for a corporation. Operations
management, for example, defines, creates, and implements inter-office interactions
such as business and financial forms that are used every day. It also assigns
responsibilities to different departments, managers, and subordinates. Personnel
management and training, as well as performance reviews and audits, are all
handled by operations management. Keeping up with effective documentation
methods and related personnel concerns might help you get more done in less time.

 Inventory Control

Inventory management is one of the most challenging aspects of any organization. It can tell you what
you have, when you got it, and if your money and assets are collecting dust on your shelf or working
for you. Inventory systems, which define how well your inventory is maintained, are overseen by
operations management. How your inventory flows is determined by your inventory control. It guides
and instructs whether an employee has things on hand or if clients must wait for back-ordered items.

 Quality Control

Quality entails more than just producing an excellent, dependable product that delights customers.
It's about more than just making sure your brand lives up to expectations. Quality can refer to the
company's total excellence in all activities and policies. It may, for example, decide how workers view
the company's capacity to pay for and safeguard employees so that they can focus completely on
customer satisfaction. Taking care of the organization as a whole allows for a more efficient workflow
and fewer distractions.

 Supply Chain Management

Supply chain management refers to the full process of how a consumer receives your company's
goods or services, from beginning to end. Purchasing and procurement, storage, transportation, and
delivery are all included. Supply chain management also include adopting technology to aid
employees in the process, as well as cultivating and maintaining professional relationships with
suppliers and other process partners who might cause a major hiccup if not carefully and consistently
coordinated.

IV. The importance and value of operations management (at least 2 methods)
a. Product & process design (optional)
b. Input-transformation-Output (required)
c. Supply chain management (Logistics & Inventory management) (optinal)
d. Control and distribution systems (optional)
V. The factors within the business environment impact OP
a. Corporate Social Responsibility
b. Culture (optional)
c. Stakeholder
d. How OP managers can acheive the SMART Objectives
e. PESTEL/Porter's five forces
f. Covid-19 impact
VI. Conclusion
Main points/limitation/recommendation
VII. References list
Techopedia, 2021. Lean Production . [online] Available at :
https://www.techopedia.com/definition/14441/lean-production [Accessed 20
December. 2021]
Adam, 2021. Six Sigma. [online] Available at :
https://www.investopedia.com/terms/s/six-sigma.asp [Accessed 20 December.
2021]
Mansa, 2021. Queuing theory. [online] Available at :
https://www.investopedia.com/terms/q/queuing-theory.asp [Accessed 20
December. 2021]
Wordpress.com, 2021. Smart objective of Samsung. [online] Available at :
https://mysamsungmylife.wordpress.com/planning/ [Accessed 20 December. 2021]
Manager, 2020. Smart Objective . [online] Available at :
https://www.managers.org.uk/wp-content/uploads/2020/03/CHK-231-
Setting_Smart_Objectives.pdf [Accessed 20 December. 2021]