Types Of Operations Found Within Businesses

Marketing: the process of planning and executing of a product, its pricing, its promotion, and its distribution. In addition marketing attempts to manage customer relationships in ways that benefit the organization and its stakeholders. Marketing creates UTILITY (want-satisfying power of a good or service) through the exchange process. Time Utility – Availability of goods and services when people want them. Place Utility – Availability of goods and services at convenient locations. Ownership Utility – Ability to transfer title to goods and services from marketer to buyer. Form Utility – Conversion of raw materials and components into finished goods and services.

Marketing is the function that connects businesses to their target audiences’ needs. It is how a business presents and distributes their product to their audience. For example, a business can market their product by advertising it to the public. This can be seen in many forms of media; such as: on television, via web, posters or on billboards.

* Based on your experiences, identify one (1) example of a business function / operation. Explain the business function / operation in the context of business data models.

Operations function is vital to overall business performance as it is where a number of process come together to make the products and service to satisfy customer needs. However, operation function needs the finance function to manage the flow of

The main functional areas of a business are marketing, human resource, finance, information systems and production. All these interact with each other in different ways but all contribute to effective management. Management would not be completely effective if one of the above areas are missing. They are all needed in different ways to make sure that the business reaches objectives, achieves effectiveness and efficiency and while doing this trying to get a balance in which they can satisfy different stakeholders.

These three function groups are categorised based on their fundamental and immediate functions required to carry on the primary and ancillary (supportive) business processes. These three groups cannot operate independently, as they are interdependent for execution of their respective tasks or

There are several types of businesses worldwide. The organization operates by the Government or Semi Government is known as the public sector organizations whereas private entrepreneurs operated public sector organizations. These public sector organizations are either privately owned or by the public.

• explain operations as an organizational functional area; i.e. to present a list of the areas covered by the operations management function, the problems and decisions faced in these areas and the methods and models for approaching these problems;

Operations Management focuses on the design and management of products, processes, services and supply chains (Diemond, 2014). It considers the acquisition, development, and utilization of resources that firms need to deliver the goods and services their clients want (Diemond 2014). Operations Management consists of many topics which are applied on a daily basis at the company I work for. Some of the topics include process control, lean manufacturing, six sigma, and supply chain management. It is the process that controls how inputs (raw materials, labor, and energy) get converted into outputs (finished goods or services).

Sales: This function is responsible for connecting the customers with the problems that can be solved by the businesses (Dougsguides, n.d.).

Marketing - The marketing function is responsible for identifying, anticipating and satisfying customer requirements. The marketing function have to carry out market

business functions and the supporting infrastructure are designed and engineered in such a way that

separate functions. The harmony of the key business functions relies heavily on the management of the business; as the four functions assist with achieving the business’s goals. However; the coordination of the key functions depends on the broad goals of the business and its size. For example, larger businesses tend to divide their goals into the separate departments of the business headed by differing managers; compared with smaller business in which the key business functions generally overlap. The four business functions are:

Any business majorly focuses on 4 major models these are marketing, financial, operational and competitive. For an organisation to succeed

The operations function is important in implementing the strategy of an organisation because the business strategy only defines the long term plans for the company, whereas the operations function focuses on specific competitive priorities in order to meet the organisations long term plan. Prime Bank of Massachusetts had decided on a long term plan for the bank focusing on customer services and they needed the operations function to implement this long term plan through planning & control systems, workers and quality. Problems such as not having enough phone lines for the 24 hours customer service could cause customers to become irritated if they cannot get through on the phone and