Operational Management

Introduction Operational management processes in a firm involves overseeing, formulating and reformulation of the operations of a business. The processes are meant to ensure efficiency in administering resources whilst ensuring there is effective management of client’s specifications and or directions. This is achieved by adding value to the firm’s processes. Such achievements are experienced when a firm embarks in directing its physical and or technical functions towards enhancing its development…

Systems Management BUS 401 Assignment 09 October 2011 Task 1 1. Strategic objectives of operational management In a competitive market environment, organizations employ different strategies to achieve market advantages. Wining new markets and maintain the existing markets depend on the quality of the products and services that organizations produce. To enhance quality of the products, and achieve market competitive advantages, firms should employ operations management techniques…

Operational Risk Management in Foreign Exchange Dealing Abstract This paper discusses operational risk management in foreign exchange dealing for commercial banks in Tanzania. The paper further defines the problem and showing evidence that the problem is still in existence and outlines areas that require further researches from other literatures with the same research problem. It outlines the questions to be used in the research and shows the relevance of the study and its significance to commercial…

customers to become irritated if they cannot get through on the phone and therefore lose the bank customers, if the operations management put in enough phone lines to meet with the banks customers demand and ensure that calls are answered in a timely fashion this could increase customer satisfaction. (Class Notes – Chapter 2, Operations Management) Part 2 The operations management decisions that are involved in the operation of a bank are the workers and the layout of facilities. The bank needs to…

Operational readiness is the key success factor for project management In many studies and reports, project successes tend to be measured against the prescribed schedule, cost and performance. In reality, project success measurement should be against projects constraints and the operational readiness status of the business environment. The combination of the two will assist in efficiently using the product or service as intended. What is operational readiness? In definition, operational…

Commerce Volume : 3 | Issue : 1 | January 2013 | ISSN - 2249-555X Operational Risk Management in Banking Sector: An overview Keywords Rakesh Chutia Assistant, State Bank of India Margheita-786181 Dist.-Tinsukia Assam ABSTRACT Operational risk is inherent in all banking products, activities and processes and systems and the effective management of operational risk is of paramount importance for every bank’s board and senior management. With globalization and deregulation of financial markets, increased…

CORPORATE RISK MANAGEMENT ASSIGNMENT OPERATIONAL RISK MANAGEMENT (ORM) IN BANKS Risk is inherent in any walk of life in general and in financial sectors in particular. Till recently, due to regulated environment, banks could not afford to take risks. But of late, banks are exposed to same competition and hence are compelled to encounter various types of financial and non-financial risks. Risks and uncertainties form an integral part of banking which by nature entails taking risks. There are three…

SCENARIO ANALYSIS FOR BASEL II OPERATIONAL RISK MANAGEMENT 1 Introduction: Scenario Analysis for Potential Catastrophic Losses 1 2 Addressing Operational Risk 3 3 Scenario Analysis in a Risk Measurement Framework 5 4 Scenario Analysis in a Risk Management Framework 6 5 Achieving Risk Measurement and Management 6 6 Conclusion: Benefiting from Scenario Analysis 7 1 Introduction: Scenario Analysis for Potential Catastrophic Losses “Are you saying that you want us to figure out how to lose R50 million…

Job Analysis and Operational Management Name Institutional Affiliation Date: Job Analysis and Operational Management Describe the aims, objectives, and relevance of job analysis to operational management process Frequently, managers who are pressured with time employ the same work description, which has been in their use for years. Nevertheless, very few jobs are stationary and are retained without changes in our fast advancing world. A structured job analysis presents an opportunity for an…

Operational Risk Management Operational Risk Management, otherwise known as ORM, is defined as a continual recurring process which includes risk assessment, risk decision making, and execution of risk controls, which results in acceptance, mitigation, or avoidance of risk. It is the oversight of operation risk, which is a risk arising from execution of a company’s business functions. It is a very wide concept which focuses on the risks arising from the people, systems and processes through which…