Hi Stars a manufacturing company deals in manufacturing computers. Marketing, Finance and Operations are three important departments of the Company. The functions of these departments are interrelated and can’t carry without each other in maintaining their production process.
Describe the importance of each department to the other.
Describe why it in necessary for an Operations Manager to have the knowledge of Marketing
and Finance.
Describe the importance of each department to the other.
Describe why it in necessary for an Operations Manager to have the knowledge of Marketing
and Finance.
Solution:-
Describe why it in necessary for an Operations Manager to have the knowledge of Marketing and Finance.
The field of operations management has been gaining increased recognition over the last two decades. One major reason for this is public awareness of the success of Japanese manufacturers and the perception that the quality of many Japanese products is superior to that of American manufacturers. As a result, many businesses have come to realize that the operations function is just as important to their firm as finance and marketing. In concert with this, firms now realize that in order to effectively compete in a global market they must have an operations strategy to support the mission of the firm and its overall corporate strategy.
Another reason for greater awareness of operations management is the increased application of operations management concepts and techniques to service operations. Finally, operations management concepts are being applied to other functional areas such as marketing and human resources. The term marketing/operations interface is often used.
The field of operations management has been gaining increased recognition over the last two decades. One major reason for this is public awareness of the success of Japanese manufacturers and the perception that the quality of many Japanese products is superior to that of American manufacturers. As a result, many businesses have come to realize that the operations function is just as important to their firm as finance and marketing. In concert with this, firms now realize that in order to effectively compete in a global market they must have an operations strategy to support the mission of the firm and its overall corporate strategy.
Another reason for greater awareness of operations management is the increased application of operations management concepts and techniques to service operations. Finally, operations management concepts are being applied to other functional areas such as marketing and human resources. The term marketing/operations interface is often used.
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