Operations Management
Business Operations
Business operations are those ongoing, recurring (cyclic) activities involved in the running of a business for the purpose of producing value for the stakeholders. They are contrasted with projects, and consist of business processes.
The outcome of business operations is the harvesting of value from assets owned by a business. Assets can be either physical or intangible. An example of value derived from a physical asset like a building is rent. An example of value derived from an intangible asset like an idea is a royalty. The effort involved in “harvesting” this value is what constitutes business operations cycles.
Business operations are therefore the execution of the business strategy, model or plan.
Operations Management
Operations management focuses on carefully managing the processes to produce and distribute products and services. Major, overall activities often include product creation, development, production and distribution. Related activities include managing purchases, inventory control, quality control, storage, logistics and evaluations of processes.
A great deal of focus is on efficiency and effectiveness of processes. Therefore, operations management often includes substantial measurement and analysis of internal processes. Ultimately, the nature of how operations management is carried out in an organization depends very much on the nature of the products or services in the organization, for example, on retail, manufacturing or wholesale.
Academy3 now offers a range of education opportunities that follow the path from frontline to supervisory to business operations management. The following courses are suitable for all people entering, transitioning or looking to excel in commerce.
- Cerificate II in Business
- Certificate III in Business
- Certificate III in Micro Business Operations
- Certificate IV in Business
- Certificate IV in Frontline Management
- Certificate IV in Small Business Management
- Diploma of Business
- Diploma of Management