Capella University Operations Management Issues and Decisions Proposal Discussion
Question Description
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Overview
Create a proposal to address operations management issues and decisions as they apply to a fictional bank.Operations management is the core of any business. It is the management function that coordinates all the activities in relation to product/service reliability, quality, efficiencies, delivery, and meeting customers’ expectations.SHOW MORE
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Context
Today’s global economy has forced companies to focus on how they deliver their product or service to their customers. Companies must now continuously evaluate better ways to reduce cost, improve quality, and give the customer more than was expected.Operations management is an integral part of this process because it focuses on the transformation of needed inputs to desired outputs. This transformation includes office, production, manufacturing, and vendors or suppliers, as well as other things that affect the company’s ability to deliver superior quality products.
Operations management includes the use of the facilities, equipment, materials, technology, and, most importantly, the employees. These operational activities are designed relative to sustainability concerns. Understanding operations management will allow you to see the flow of the product or service.A product or a service starts with design. A key component of the design process is to determine whether a product or service can be offered at a price point that will produce a profit for a company. A key consideration in design is any cost or environmental impact affecting sustainability concerns.
Another aspect of operations management is that companies must strive to improve the work environment for their employees and enhance sustainability concerns. People are a company’s most important resource, and managers must take care of their employees in order to grow and maintain industry leadership.
Our fast-paced economy has shortened the product life cycle, by forcing companies to update more often in order to serve their customers and stay ahead of the competition. One tool used by many companies to help maintain an advantage is the flow chart. This tool allows companies to diagram out all the processes needed to deliver their products. The flow chart diagram gives the visual flow of the work down to the simplest step in the process. It allows management to constantly review processes to see where bottlenecks occur and to help determine how they can improve the process.
Some of the best practices used by companies that lead in their industries include:
Breakeven analysis.
Benchmarking.
Reverse engineering.
Concurrent engineering.
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Questions to Consider
To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.
What are some characteristics of operations management decisions?
Select one operations management decision. Is this decision tactical or strategic? Why?
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Resources
SUGGESTED RESOURCES
The following optional resources are provided to support you in completing the assessment or to provide a helpful context. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom.
Library Resources
The following e-books or articles from the Capella University Library are linked directly in this course:
Aswathappa, K., & Shridhara Bhat, K. (2009). Production and operations management. Mumbai, IN: Global Media.
Plenert, G. J. (2002). International operations management. Copenhagen, DNK: Copenhagen Business School.
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Course Library Guide
A Capella University library guide has been created specifically for your use in this course. You are encouraged to refer to the resources in the BUS-FP4014 Operations Management for Competitive Advantage Library Guide to help direct your research.
Bookstore Resources
The resources listed below are relevant to the topics and assessments in this course and are not required. Unless noted otherwise, these materials are available for purchase from the Capella University Bookstore. When searching the bookstore, be sure to look for the Course ID with the specific –FP (FlexPath) course designation.
Reid, R. D., & Sanders, N. R. (2016). Operations management: An integrated approach (6th ed.). Hoboken, NJ: Wiley.
Chapter 1, “Introduction to Operations Management.”
Chapter 2, “Operations Strategy and Competitiveness.”
Chapter 3, “Product Design and Process Selection.”
Chapter 11, “Work System Design.”
Assessment Instructions
SCENARIO
Consider the operations management aspects of the organization in the following scenario:Madero Bank is a regional U.S. bank. Madero Bank’s managers decided on a business strategy emphasizing customer service, rather than on some other dimension such as customer financials (providing higher interest rates on savings accounts, lower interest rates on loan, and so forth). To help the bank implement that customer service strategy, they conducted a survey of their customers, and found that the customers would like the bank to be open for more hours. As a result, Madero Bank decided to remain open until 7:00 P.M. on Fridays, and to be open from 9:00 A. M. to 4:00 P. M. on Saturdays.The expanded hours have presented challenges for Madero Bank’s operations management team, in staffing an adequate number of tellers to cover those additional hours without customers having to wait in long lines. Madero Bank’s managers are also considering additional approaches to support their customer service strategy, including the following:
Providing additional hours of telephone customer support (which would involve securing additional telephone lines, customer support representatives, and telephone and computer equipment).
Advancing the bank’s online banking functionality (including a redesigned Web site and the development of an app on each of the leading mobile platforms).
Redesigning the physical layout of the bank to better utilize high-contact areas (areas with significant customer traffic) and low-contact areas (areas with little or no customer traffic).
Offering service bundles for the bank’s largest personal and business banking customers, such as a predefined set of accounts, services, and reduced fees for platinum-level customers.
OPERATIONS MANAGEMENT PROPOSAL
Using the scenario above, create a proposal in which you provide answers to the following questions:
How should operations management and associated improvements support Madero Bank’s strategy?
How might service bundles be utilized in support of this strategy? How do they relate to the initial purpose of the bank?
What are some of the key operations management decisions to be made at Madero Bank?
What operations management changes would you recommend, and why? (These changes could be related to hours, facilities, equipment, and personnel.)
ADDITIONAL REQUIREMENTS
Written communication: Written communication should be free of errors that detract from the overall message.
APA formatting: Any references and citations should be formatted according to APA (6th edition) style and formatting.
Font and font size: Times New Roman, 12-point.
Operations Management Scoring Guide
CRITERIA
DISTINGUISHED
Explain how operations management improvements support an organization’s strategy.
Explains how operations management improvements support an organization’s strategy and provides specific examples.
Explain how a service bundle relates to the initial purpose of a company.
Explains how a service bundle relates to the initial purpose of a company and provides specific examples.
Identify operations management decisions for an organization.
Identifies operations management decisions for an organization and discusses how they can positively or negatively affect the organization.
Develop recommended changes for an organization’s operations management function.
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Develops recommended changes for an organization’s operations management function and justifies the recommendations.
You must proofread your paper. But do not strictly rely on your computer’s spell-checker and grammar-checker; failure to do so indicates a lack of effort on your part and you can expect your grade to suffer accordingly. Papers with numerous misspelled words and grammatical mistakes will be penalized. Read over your paper – in silence and then aloud – before handing it in and make corrections as necessary. Often it is advantageous to have a friend proofread your paper for obvious errors. Handwritten corrections are preferable to uncorrected mistakes.
Use a standard 10 to 12 point (10 to 12 characters per inch) typeface. Smaller or compressed type and papers with small margins or single-spacing are hard to read. It is better to let your essay run over the recommended number of pages than to try to compress it into fewer pages.
Likewise, large type, large margins, large indentations, triple-spacing, increased leading (space between lines), increased kerning (space between letters), and any other such attempts at “padding” to increase the length of a paper are unacceptable, wasteful of trees, and will not fool your professor.
The paper must be neatly formatted, double-spaced with a one-inch margin on the top, bottom, and sides of each page. When submitting hard copy, be sure to use white paper and print out using dark ink. If it is hard to read your essay, it will also be hard to follow your argument.
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“The establishment of a link between mandatory continuing education and professional competence development has been deemed critical to future decision-making about the best methods of assuring continued competence” (Smith,2003). Smith and her research studies show that a nurse with a BSN is more likely to be able to critically think and manage critical situations.
This author believes that continuing education is beneficial to all because it allows you to gain knowledge and learn more about evidence-based practice. However, this author worked on a medsurg floor with a nurse who earned her MSN and another who earned her BSN, but the author was the charge nurse and handled rapid response situations well on the floor. When placed in charge, this author was skeptical, but gained confidence after certain situations were handled properly, even if only with an ADN. However, this author believes that anyone furthering their education at any level is beneficial to everyone.
LopesWrite Policy
For assignments that need to be submitted to LopesWrite, please be sure you have received your report and Similarity Index (SI) percentage BEFORE you do a “final submit” to me.
Once you have received your report, please review it. This report will show you grammatical, punctuation, and spelling errors that can easily be fixed. Take the extra few minutes to review instead of getting counted off for these mistakes.
Review your similarities. Did you forget to cite something? Did you not paraphrase well enough? Is your paper made up of someone else’s thoughts more than your own?
Visit the Writing Center in the Student Success Center, under the Resources tab in LoudCloud for tips on improving your paper and SI score.
Late Policy
The university’s policy on late assignments is 10% penalty PER DAY LATE. This also applies to late DQ replies.
Please communicate with me if you anticipate having to submit an assignment late. I am happy to be flexible, with advance notice. We may be able to work out an extension based on extenuating circumstances.
If you do not communicate with me before submitting an assignment late, the GCU late policy will be in effect.
I do not accept assignments that are two or more weeks late unless we have worked out an extension.
As per policy, no assignments are accepted after the last day of class. Any assignment submitted after midnight on the last day of class will not be accepted for grading.
Communication
Communication is so very important. There are multiple ways to communicate with me:
Questions to Instructor Forum: This is a great place to ask course content or assignment questions. If you have a question, there is a good chance one of your peers does as well. This is a public forum for the class.
Individual Forum: This is a private forum to ask me questions or send me messages. This will be checked at least once every 24 hours.
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