Refer To Textbook Business Essentials By Ricky W Griffin

Refer To Textbookbusiness Essentials By Ricky W Griffin And Ronald J

Refer to textbook Business Essentials by Ricky W Griffin and Ronald J. Ebert. Answer the following questions in full. If the assignment cannot be done correctly, please do not offer to complete. No plagiarism and report should be submitted with work. Originality and precision are needed!

Q.7-41. What is operations management? Define the term "utility" and describe how operations create various forms of utility, providing an example of each. How is operations management more complex when providing services?

Q.7-42. Successful business leaders say that any business's success depends on the matchup (or compatibility) between its operations capabilities and its overall business strategy. That is, major competitive weaknesses exist when operations capabilities are not consistent with or conflict with company strategy. In contrast, successful companies ensure that operations are designed to support overall strategy. Compare and contrast two companies that have chosen different strategies for attracting customers, as follows: a) Describe the differences in their strategies b) Identify and describe key operations capabilities and characteristics for each company. c) Explain for each company how its operations characteristics either support its strategy or how those characteristics do not support its overall strategy.

Paper For Above instruction

Operations management is a critical discipline that oversees the processes involved in producing goods and delivering services. It encompasses planning, organizing, coordinating, and controlling resources to efficiently meet customer demand and achieve organizational goals (Griffin & Ebert, 2019). The primary focus of operations management is to maximize productivity while ensuring quality, cost-effectiveness, and timely delivery. This field plays a vital role in the success of any organization by aligning operations with strategic objectives and continuously improving processes.

The concept of "utility" in economics and business refers to the satisfaction or value that a customer derives from a product or service (Palmer, 2018). Operations create various forms of utility to enhance customer satisfaction and competitive advantage. The four main forms are form utility, time utility, place utility, and possession utility. Form utility is created when raw materials are transformed into finished products that meet customer specifications (Heizer, Render, & Munson, 2017). For example, an automobile manufacturer adds form utility by assembling parts into a complete vehicle.

Time utility involves making products or services available when customers need them. For instance, a grocery store extending its operating hours provides time utility by enabling customers to shop at their convenience (Krajewski et al., 2019). Place utility pertains to the availability of products at convenient locations. A typical example is fast-food outlets located strategically to serve busy commuters efficiently. Possession utility is created through the processes that facilitate ownership transfer, such as financing options or delivery services. An example is online retailers offering home delivery, allowing customers to conveniently possess and use the product once purchased.

Operations management becomes more complex when providing services compared to manufacturing due to the intangible, inseparable, variable, and perishable nature of services (Lovelock & Wirtz, 2016). Unlike physical products, services cannot be stored or inventoried, making demand fluctuations harder to manage. Service quality depends heavily on human interaction, requiring skilled personnel, consistent customer experience, and real-time responsiveness (Zeithaml, Bitner, & Gremler, 2018). For example, ensuring excellent customer service in a healthcare setting involves managing patient flow, staff performance, and service environment simultaneously, adding layers of complexity not typically encountered in manufacturing operations.

In conclusion, operations management is fundamental to creating value for customers through various utilities, and it requires careful coordination and improvement of processes. The complexity of managing services further intensifies this challenge, necessitating specialized strategies to ensure customer satisfaction and operational efficiency.

References

• Griffin, R. W., & Ebert, R. J. (2019). Business Essentials (13th ed.). Pearson.
• Heizer, J., Render, B., & Munson, C. (2017). Operations Management (12th ed.). Pearson.
• Krajewski, L. J., Malhotra, M., & Ritzman, L. P. (2019). Operations Management: Processes and Supply Chains (12th ed.). Pearson.
• Lovelock, C., & Wirtz, J. (2016). Services Marketing: People, Technology, Strategy (7th ed.). Pearson.
• Palmer, A. (2018). Principles of Marketing (8th ed.). Oxford University Press.
• Zeithaml, V. A., Bitner, M. J., & Gremler, D. D. (2018). Services Marketing: Integrating Customer Focus Across the Firm (7th ed.). McGraw-Hill Education.