Final Answers 1 Essay

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1. What is operations management and how is different from operations research?

Operations Management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs. The operations management of any organization involves the design, operation, and improvement of the systems that create and deliver the primary products and services of the organization. From an organizational point of view, operations management might be defined as the management of the direct resources that are required to produce and deliver organizational goods and services. Operations management is an area of business that is concerned with the production of goods and services. Operations research is an
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The costs are high, with no earned revenue. Promotion for awareness may commence in advance of introduction of the product to the marketplace.
2.2 Birth (or Introduction stage)
This is the stage where a product will be introduced after initial decisions like selection, technology selection, location and layout design of production facility after study of various aspects of business unit in transpiration and raw material, manpower resources availability etc. This is the stage we call it as Birth stage of the product.
2.3 Growth stage
After introducing the product the next stage for any product is looking for growth. The growth is stage is very critical in the operation management. The key of success is lying in this stage. How we take this product to people or how people will have the feel of necessity of the product depends on the efficient marketing strategies of the management. Sometimes the time taking to reach to growth stage will be faster because of the uniqueness of its usage when compared with its competitor's products. Major efforts are required at this stage to push with all possible strategies in an ethical manner.
2.4 Maturity stage
Once the product is established, the product life cycle enters into the maturity stage. At this stage organization takes feedback from various groups of users and improve the product usability with add on features and introduce different models without changing the basic applications.
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