Evaluate a range of investments available from banks, building societies, insurance companies and national savings

3199 Words13 Pages
Qualification
HND in Business Accounting& Management
Unit No & title
Unit 34 Operations Management in Business
Start date
March 11th. 2014
Submission Deadline
April 11th. 2014
Assessor name
Marcia Jiajie Liu
IV name
Simon Chen
Student No. & name

Student’s Declaration
I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.

Student signature: Date:04/11/2014

Assignment No. & title
3401, Operations Strategy in Business
This assignment covers the following assessment criteria
Outcomes
Criteria
LO1. Understand the nature and importance of operational management
1.1 explain the importance of operational management

1.2 explain the need to produce products or
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1.4 produce a systems diagram to illustrate a typical business
Suggest an appropriate organizational system with suitable diagram for the high turnover company like IKEA.

2.1 explain the 'Three Es' (economy, efficiency, effectiveness)
'Three Es' are explained in general.

2.2 explain the tension between cost minimisation and quality maximisation
Explain why improvement in quality while minimising the cost of production based on IKEA.

2.3 evaluate the significance of the five performance objectives that underpin operations management

The evaluation of the role that the five OM performance objectives( cost; dependability; flexibility; quality and speed) plays in monitoring and controlling of the business so as to remain competitive in the market.

Grading Assessment
M1: effective judgements have been made.
When explaining how operations management is important to IKEA, effective judgements have been made by listing comprehensive reasons.

M2: A range of sources of information has been used
When performing Task 2, 3, or 5, examples of IKEA have been used to illustrate what is being explained.

M3: Present and communicate appropriate findings.
The arguments are presented in understandable and technical terms have been explained properly.

D1: Realistic improvements have been proposed against defined characteristics for success.
When

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