OpMan Coursework
OpMan Coursework
Provide
business context for each stage (correlate it to Operations Management).
The first stage: execute pertains to how well the individuals follow
instructions and ensure the tasks are completed on time, following a set of
standards and quality. This is why companies should have Standard Operating
Procedures (SOPs), which help their employees execute their tasks and guarantee
consistent quality. Some companies have a fixed production scheduling to ensure
the timely delivery of their products. And to ensure that every product meets their
standards, companies also strictly adhere to quality control. This stage ensures that
production processes are executed efficiently and within quality standards.
The second stage: synthesize makes use of past performances and identifying
important insights to create new ones. Data analysis is important especially when
companies need to optimize their operations or improve their production process.
That is why companies like Amazon continuously synthesize data, whether it’s from
customers or market trends, to forecast demand. By doing so, they can optimize
their inventory and reduce production costs.
The principles of logic or the laws of thoughts provides a way for us to evaluate
information based on reason and evidence. It allows us to analyze problems and
derive meaningful conclusions. The Principle of Identity tells us that if something
is what it is, then it is not something else. For example, an operation team who
develops new flavors for their product cannot suddenly be the marketing team for
their products. This is why it is very much important for the company to recognize
each team’s purpose, their processes, and limits. Thus, it ensures the efficient
production and workflow of the company. The Principle of Non-Contradiction
states that something cannot exist and not exist under the same conditions
simultaneously. For example, a company strategy cannot be both efficient and not
efficient at the same time. This principle is important to ensure that a strategy
optimizes their current performance and is aligned with the company’s vision and
mission. The company has to consider every possible consequences and impact it
will have on each part of the company, so that a strategy does not contradict with
existing processes or their long-term goals. The Principle of Excluded Middle
explains that something is either true or false and there is no middle ground. Like
the previous example, a strategy either reaches the company’s goal or it does not;
there is no halfway point. This principle is important especially in monitoring stage
of planning, where the company has to assess their past strategies, whether it is
failed or successful. Companies have to be mindful of their current state and how
their past strategies have impacted them. These principles ensures that operations
are going smoothly with consistency and within quality standards.
Business Acumen Skills are the ability of an individual to see the “bigger picture”
of a business and how each part of it works to attain its goals. The first skill is the
financial acumen, where individuals have to determine the impact of company
decisions to its financial state. Knowledge on the company’s financial state is
needed in order to optimize the allocation of resources, budgeting, and ensure that
the production processes maximizes its profitability. Analytical skills are also
important for companies to analyze information, whether from market trends or
competitive analysis, and make decisions out of it. Companies need not only to
process data but also identify significant patterns from it that will help them
improve efficiency. Data analysis is crucial in operations in order to responsibly
manage inventory and forecast possible demand or decline. Leadership skills
pertain to the ability to manage and oversee the entire process of a business and
also take action. A good leader ensures that their company reaches their vision and
mission while also fostering collaboration within. Strategic thinking pushes us to
create innovative solutions that will help reach our goals. Company strategies
should be aligned with their long-term goals while ensuring that day-to-day
processes contribute to their objectives. Market Orientation involves
understanding scarcity and the needs of the customers to ensure that the products
being delivered are within the demand and standards of the market. This helps
companies to further improve their production processes, whether it is quality
production or delivery time. Marketing skills are the ability to promote products
based from the customers’ preferences and the market trends. It is important for
companies to keep up with the trends and recognize how marketing, especially on
social media, can help persuade customers to buy their products. Problem-solving
skills is the ability to manage difficult situations properly. Companies should react
to challenges pro-actively, like how Johnson and Johnson handled their Tylenol Crisis
by issuing a recall on their products. The next skill is the ability to have laser
focus. It emphasizes the importance of prioritizing your time and giving all your
attention at a certain task. This helps us work efficiently and ensure that our work is
within the standards. The next one is understanding stakeholder needs, where
every company decision should consider the views of others in the business. When
it comes to decision-making, companies should not only consider their goals, but
also how it impacts their stakeholders. The last skill discusses the ability to
understand cause and consequence of certain decisions. This is important in
order for companies to identify root problems, explore strategies, and assess how
each strategy can impact the company.
4. Reflect on how you can apply these topics in improving your Long Quiz
performances.
Upon learning the concepts of Critical Thinking Roadmap, Principles of Logic, and
Business Acumen Skills, I believe I am more capable of facing challenges and
problems, not just for the given problems in the Long Quiz but also in real-life. With
the Critical Thinking Roadmap, I realized that I have to fully understand first the
problem and the mentioned symptoms of the root problem. This also helps me see
beyond what is in the surface and find what the true problem is. Using the Principle
of Logic, I realized that answering problems should be clear and concise as well as
not have contradicting ideas. It definitely helped me approach problems with a clear
mind and also improved my skills in communicating my ideas. I know that business
acumen skills are developed and improved over time, but understanding the
importance of each skill made me realize that every skill is needed for decision-
making. I also believe exposing ourselves to real-life business situations, whether
local or international companies, can broaden our perspectives and help in creating
innovative solutions and strategies. Using stoicism and neo-stoicism allow me to
face not just exam questions, but also real-life challenges pro-actively by focusing
more on what I can control, such as my abilities, as well as approach them positively
with rational thinking. Applying Machiavellianism will help me be strategic and
practical. For example, in long quizzes, I can strategically prioritize questions that
are complex. It will also help me improve my problem-solving skills. Improving my
communication skills will also help me structure my answers properly as well as be
concise with my answers.