Homework: Operations Management
Scenario
You have been shortlisted as a candidate to participate in a new TV program in which contestants are pitched against each other to gain the favours of a John Smith, a billionaire businessman with ventures in fields ranging from banking, to property management as well as retail. At the end of the program, one contestant will be offered a job in one of the new venture of the businessman, while the others will return home.
Task I
Instructions
As such they have asked all the candidates to prepare Power-point slides which they can present for 3 to 4 minutes' explaining the link between Strategic Planning and Operations Management. In particular, you should:
1) Explain how Operation Management fit within Strategic Management and why Operation Management is so important
2) Consider the value of the Three E's to an organisation
3) Assess the impact of the tension between cost minimisation and quality maximisation by providing examples
4) Assess how quality management techniques are applied to improve operations in organisations
5) Evaluate the significance of the five performance objectives of operations management
Task II
Instructions
The producers of the show were happy with your video and decided to put you through to the show. And you did relatively well throughout the episodes. As the show progressed, it became apparent that John Smith had an appetite for business and almost limitless funds. John Smith made a fortune by launching new companies to compete against existing successful organisations or by purchasing and improving stagnating or failing organization.
In one episode you have been assigned the task of selecting an organisation, analyse its operational functions and evaluate it before making your conclusions. You should then either propose to purchase the existing company to improve it or to launch a new competitor. Either way, you should then propose new operational outcomes as well as produce a network plan indicating critical path(s).
Task III
Instructions
During your time serving as a board member you witnessed other pitches as John Smith believes that observing others allows for better self-evaluation. After the show, you have been asked by a popular business magazine to write a 500 words article about what went well and what could have been done better regarding your proposed operational outcomes and your proposed network plan & critical path(s). The article should reinforce the need for operational planning and how it adds values.
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.