From the course: Operations Strategy for Business
What are business operations?
From the course: Operations Strategy for Business
What are business operations?
Business operations are the core daily activities that an organization does to create value and earn a profits. It's one of the primary functions or departments of any organization alongside the likes of marketing or finance. Operations are the doing, making, helping, delivering the real work that creates and provides what the customer wants. From a coal mine digging up coal, an airline transporting people, a restaurant cooking for and serving a customers or a digital marketing agency doing its graphic design and setting up ad campaigns. The operations are the core activities of those businesses, the systems that transform inputs into higher value outputs. Operations management involves coordinating resources, forecasting demand, inventory management, capacity planning, demand management, scheduling resources systems and layout design, performance management improvements, and having an operations strategy to get the most out of it all. Operations are the essential department of most organizations. Be that a typical business or a non-profit organization such as a government hospital or a charity, the operations are where the essential value creating work gets done, taking inputs such as materials, people, skills, machines, technology and the act of processing them into higher value outputs.
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