The present report is about the operation management for competitive advantages of the business. Operation Management is a key component for improving the productivity in the business around the global market of the organization. For attaining the competitive advantages by the operations business requires to understand the contribution of the operations for improving the productive growth of the organization.
The present report focuses on the different factors and their impact on the operation management of the company and distinct features of global context that outline the managerial action of the association. Along with this study comprises the assessment of the OM and its contribution to develop sustainable business activities in the business company. Including this it describes the different project management and risk management techniques those take part in the OM of the association. In addition, identification of the new technological infrastructure that supports the OM of the business are also describing in the following paragraphs.
1.1 Identify the global factors and their impact that affect operations management in M&S
Operation management of the Marks and Spencer is very important division for attaining the competitive advantages for the organization. It includes different decisions in complete certainty, risk and uncertainty and extreme vagueness situations of the organization. In these circumstances various decisions are taken by the operation manager of the Marks and Spencer, such as Maximization of the profit, sales, revenue, market share, production and demand of the business as well as minimization of the cost, risk, loss, price and uncertainty of the business. There are various global factors which influence the operation Management of the organization; these are (Pinedo, 2013):
- Reality of the global competition
- Quality, customer service and cost challenges for M&S
- Rapid change and expansion in technologies
- Scarcity of the operation resources
- Social responsibility issue
1.2 Identify the risk management techniques that can be applied to the management of business operations
Risk management can define as a process of risk identification, Risk impact assessment, selection of risk management techniques, implementation of techniques and monitoring the process. It is a very essential toll and technique for project and operation management of the M&S. Every step of the risk management process requires some specific techniques, such as:
Risk identification techniques (Massam, 1993):
- Brain storming
- Delphi techniques
- Root cause analysis
- SWOT analysis
Risk analysis techniques:
- Probability and impact matrix
- Expert judgment
- Sensitivity analysis
- Simulation and
- Expected Monetary Value Analysis
The present report concludes that for attaining the competitive advantages in the retaining industry M&S need to focus globalization and its feature which influence the operations of the company, different sustainable business activities, project management techniques, risk management and technological changes, etc. there are various global factors which affect the operation management and competitive advantages on the M&S, such as reality of the global competition quality, customer service and cost challenges for M&S, rapid change and expansion in technologies, scarcity of the operation resources, social responsibility issue, etc.
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