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Running Head: OPERATIONAL EXCELLENCE
Dynamic Business Environment
It is well known today that businesses traditionally structured to be stable, consistent and
predictable. The process of structuring the business entailed ensuring a consistent output and the
management of employee behavior for the production of great outcomes. It can also be argued
that the changes in technology, the great recession and several; other factors have contributed to
the dynamic environment which entails the faster speed of changes as compared to the olden
times (Laufer, 2017).
The following are two major strategies that organizations can focus on for the purpose of
surviving and thriving in the dynamic business environment in today’s world (Lyon, and Adams,
● Normalize a constant and fast change
The business environment has experienced a transformative shift over the last few years
which has increased the speed of changes making it a normal case today. Anyone has the
ability to make an impact today. Sharing of messages can be done by anyone on social
platforms and start-ups can greatly transform the capabilities of technology. Despite the
changes being daunting, it is essential for all organizations and businesses to embrace
change and to accept the fact that the future is no longer predictable like in the past.
● Constant innovation
With a dynamic business environment, it is fundamental for organizations to constantly
focus on innovations. Innovation can be made at any place in the organization and it is
important that organization executives realize this. Communication channels should
always be open for a free flow of information and all employees need to be empowered to
share knowledge and to be innovative by awarding the most innovative employees.
Operations Management in a Bank
The operations management decisions involved in the operation of a bank include the various
services that the bank offers, the staff, the facility layout and better online service (Slack, and
Brandon-Jones, 2019). For an efficient operation of the bank, it is important to ensure that the
bank clients get in and out in a timely way. The proper timing of customers is a necessary factor
especially in the designing of the facility and if not properly done, it could lead to the delaying of
customers hence causing overcrowding at the bank.
Another major issue that is often brought up is the size of the par...
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