University of The Cumberlands Operational Excellence & Management Questions

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Question Description

APA format is required - USE THE APA TEMPLATE.

Each question below must be addressed in your paper. Use an in-text heading to identify each question. Each question must also contain appropriate APA-formatted citations which match full references at the end of the paper, supporting your responses. All references should be from the years 2015 to present day. Each section should be at least 2-3 paragraphs in length.

Review the rubric that will be used to evaluate this paper.

  1. What must companies focus on in order to survive in today’s business environment? Use at least two unique references. Length: 2-3 paragraphs.
  2. Read the case: Prime Bank of Massachusetts, available in the Operations Management textbook, Chapter 2. Develop a list of changes for the operations function that should be considered by the bank. Begin by identifying operations management decisions that would be involved in operating a bank, for example, layout of facility, staff, drive-through service. Then identify ways that they can be improved at Prime Bank in order to support the strategy focused on customer service.
  3. In the product screening stage of new product development, what are some questions that may need to be explored by the operations function? By marketing? By finance?
  4. Describe how consumers can use the Internet to shop in new ways

Tutor Answer

NicholasI
School: Cornell University

Kindly find attached.thank you

Running Head: OPERATIONAL EXCELLENCE

Operational Excellence
Student’s name
Institutional Affiliation

1

OPERATIONAL EXCELLENCE

2

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,
2018)
● 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.

OPERATIONAL EXCELLENCE

3

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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Anonymous
Thanks, good work

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