Operations Management

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timer Asked: Jan 3rd, 2019
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No paper limit requirement. Everything needed is attached. If you need any additional info please reach out. I am also attaching the rubric. Use the distinguished column to give all the info the instructor is requesting. Thank you!

1/3/2019 Assessment 1 – BUS-FP4014 - Fall 2018 - Section 01 Assessment 1 Operations Management Details Attempt 1 Available Tutorials Support Attempt 2 Log Out Felicia Smith Attempt 3 Overview Create a proposal to address operations management issues and decisions as they apply to a fictional bank. Operations management is the core of any business. It is the management function that coordinates all the activities in relation to product/service reliability, quality, efficiencies, delivery, and meeting customers' expectations. By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria: Competency 1: Assess the role of operations management within organizations. Explain how operations management improvements support an organization's strategy. Explain how a service bundle relates to the initial purpose of a company. Identify operations management decisions for an organization. Competency 2: Apply the tools and technology used in operations management. Develop recommended changes for an organization's operations management function. Competency Map Use this online tool to track your performance and progress through your course. CHECK YOUR PROGRESS SHOW LESS  Context Today's global economy has forced companies to focus on how they deliver their product or service to their customers. Companies must now continuously evaluate better ways to reduce cost, improve quality, and give the customer more than was expected. Operations management is an integral part of this process because it focuses on the transformation of needed inputs to desired outputs. This transformation includes office, production, manufacturing, and vendors or suppliers, as well as other things that affect the company's ability to deliver superior quality products. Operations management includes the use of the facilities, equipment, materials, technology, and, most importantly, the employees. These operational activities are designed relative to sustainability concerns. Understanding operations management will allow you to see the flow of the product or service. A product or a service starts with design. A key component of the design process is to determine whether a product or service can be offered at a price point that will produce a profit for a company. A key consideration in https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_142816_1&content_id=_6847359_1&mode=reset 1/4 1/3/2019 Assessment 1 – BUS-FP4014 - Fall 2018 - Section 01 design is any cost or environmental impact affecting sustainability concerns. Tutorials Support Log Out Felicia Smith Another aspect of operations management is that companies must strive to improve the work environment for their employees and enhance sustainability concerns. People are a company's most important resource, and managers must take care of their employees in order to grow and maintain industry leadership. Our fast-paced economy has shortened the product life cycle, by forcing companies to update more often in order to serve their customers and stay ahead of the competition. One tool used by many companies to help maintain an advantage is the flow chart. This tool allows companies to diagram out all the processes needed to deliver their products. The flow chart diagram gives the visual flow of the work down to the simplest step in the process. It allows management to constantly review processes to see where bottlenecks occur and to help determine how they can improve the process. Some of the best practices used by companies that lead in their industries include: Breakeven analysis. Benchmarking. Reverse engineering. Concurrent engineering. SHOW LESS  Questions to Consider To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community. What are some characteristics of operations management decisions? Select one operations management decision. Is this decision tactical or strategic? Why? Resources Suggested Resources The following optional resources are provided to support you in completing the assessment or to provide a helpful context. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom. Library Resources The following e-books or articles from the Capella University Library are linked directly in this course: Aswathappa, K., & Shridhara Bhat, K. (2009). Production and operations management. Mumbai, IN: Global Media. Plenert, G. J. (2002). International operations management. Copenhagen, DNK: Copenhagen Business School. Course Library Guide A Capella University library guide has been created specifically for your use in this course. You are encouraged to refer to the resources in the BUS-FP4014 Operations Management for Competitive Advantage Library Guide to help direct your research. Bookstore Resources https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_142816_1&content_id=_6847359_1&mode=reset 2/4 1/3/2019 Assessment 1 – BUS-FP4014 - Fall 2018 - Section 01 The resources listed below are relevant to the topics and assessments in this course and are not required. Unless Tutorials from Support Log Out noted otherwise, these materials are available for purchase the Capella University Bookstore.Felicia When Smith searching the bookstore, be sure to look for the Course ID with the specific –FP (FlexPath) course designation. Reid, R. D., & Sanders, N. R. (2016). Operations management: An integrated approach (6th ed.). Hoboken, NJ: Wiley. Chapter 1, "Introduction to Operations Management." Chapter 2, "Operations Strategy and Competitiveness." Chapter 3, "Product Design and Process Selection." Chapter 11, "Work System Design." SHOW LESS  Assessment Instructions Scenario Consider the operations management aspects of the organization in the following scenario: Madero Bank is a regional U.S. bank. Madero Bank's managers decided on a business strategy emphasizing customer service, rather than on some other dimension such as customer financials (providing higher interest rates on savings accounts, lower interest rates on loan, and so forth). To help the bank implement that customer service strategy, they conducted a survey of their customers, and found that the customers would like the bank to be open for more hours. As a result, Madero Bank decided to remain open until 7:00 P.M. on Fridays, and to be open from 9:00 A. M. to 4:00 P. M. on Saturdays. The expanded hours have presented challenges for Madero Bank's operations management team, in staffing an adequate number of tellers to cover those additional hours without customers having to wait in long lines. Madero Bank's managers are also considering additional approaches to support their customer service strategy, including the following: Providing additional hours of telephone customer support (which would involve securing additional telephone lines, customer support representatives, and telephone and computer equipment). Advancing the bank's online banking functionality (including a redesigned Web site and the development of an app on each of the leading mobile platforms). Redesigning the physical layout of the bank to better utilize high-contact areas (areas with significant customer traffic) and low-contact areas (areas with little or no customer traffic). Offering service bundles for the bank's largest personal and business banking customers, such as a predefined set of accounts, services, and reduced fees for platinum-level customers. Operations Management Proposal Using the scenario above, create a proposal in which you provide answers to the following questions: How should operations management and associated improvements support Madero Bank's strategy? How might service bundles be utilized in support of this strategy? How do they relate to the initial purpose of the bank? What are some of the key operations management decisions to be made at Madero Bank? What operations management changes would you recommend, and why? (These changes could be related to hours, facilities, equipment, and personnel.) Additional Requirements Written communication: Written communication should be free of errors that detract from the overall message. https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_142816_1&content_id=_6847359_1&mode=reset 3/4 1/3/2019 Assessment 1 – BUS-FP4014 - Fall 2018 - Section 01 APA formatting: Any references and citations should be formatted according to APA (6th edition) style Tutorials Support Log Out Felicia Smith and formatting. Font and font size: Times New Roman, 12-point. Operations Management Scoring Guide Use the scoring guide to enhance your learning. VIEW SCORING GUIDE How to use the scoring guide SUBMIT ASSESSMENT This button will take you to the next available assessment attempt tab, where you will be able to submit your assessment. https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_142816_1&content_id=_6847359_1&mode=reset 4/4
1/3/2019 Operations Management Scoring Guide Operations Management Scoring Guide CRITERIA NONPERFORMANCE BASIC PROFICIENT DISTINGUISHED Explain how operations management improvements support an organization's strategy. Does not explain operations management improvements. Explains operations management improvements, but does not connect how improvements support organizational strategy. Explains how operations management improvements support an organization's strategy. Explains how operations management improvements support an organization's strategy and provides specific examples. Explain how a service bundle relates to the initial purpose of a company. Does not define what a service bundle is. Defines what a service bundle is, but does not relate this to the initial purpose of a company. Explains how a service bundle relates to the initial purpose of a company. Explains how a service bundle relates to the initial purpose of a company and provides specific examples. Identify operations management decisions for an organization. Does not discuss operations management for an organization. Discusses operations management for an organization, but does not identify decisions made via operations management. Identifies operations management decisions for an organization. Identifies operations management decisions for an organization and discusses how they can positively or negatively affect the organization. Develop recommended changes for an organization's operations management function. Does not list recommended changes for an organization's operations management function. Lists recommended changes for an organization's operations management function. Develops recommended changes for an organization's operations management function. Develops recommended changes for an organization's operations management function and justifies the recommendations. https://courserooma.capella.edu/bbcswebdav/institution/BUS-FP/BUS-FP4014/170400/Scoring_Guides/u01a1_scoring_guide.html 1/1

Tutor Answer

nkostas
School: UCLA

Attached.

Running head: OPERATION MANAGEMENT

Operation Management
Institution Affiliation
Date

1

2

OPERATION MANAGEMENT
Abstract
With the dynamics within the business environment, major digital transformations in
most industries have been witnessed. As a result of data intensive and time sensitive nature of
operations in the banking industry, banks are encouraged to improve and expand their business
processes with digital adoption continually. This is possible through the administration of
operations management which the establishment of business practices for creating efficiency
(Haksever & Render, 2018). This paper will, therefore, look into operations management and

associated improvements to support a banking strategy. It will also look into ways through which
service bundles might be used in support of a bank strategy, some key operations management
decisions to be made the bank and recommendations on operations management changes that
need to be taken into consideration.
How operations management improvements support an organization's strategy
For any business, whether a bank or not, to be successful, it needs to take into
consideration the issue of "Risk vs. Reward." To support the bank's decision, the operation
managers need to be well informed and do their homework about strategy implementation
(Haksever, & Render, 2018). They should be well informed of the outcome of the strategy, the
budget at disposal, the projected cost, a comparison of the budget and the cost, and the actual
period in which the project will undergo. Having taken all these in consideration, the next ...

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Anonymous
Good stuff. Would use again.

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