Wednesday, February 19, 2020

Operational Management Business Plan of a Special Event Essay

Operational Management Business Plan of a Special Event - Essay Example Siegel (2009, Pg. 21) says that this domain constitutes an important and critical part of business that governs the efficiency and quality with which products are manufactured or services are provided and involves numerous human intensive procedures. In fact, operations management also encompasses the effective distribution and supply of goods to customers. The history of operations management can be traced back to the Second World War when various researchers undertook complex studies to understand the various basic processes that influenced the course of army operations such as logistics, troop movement, supply routes etc (Pycraft, 2009, Pg. 43). This extensive focus on analyzing the pattern of military operations led to the evolution of military systems and provided the much needed insight into understand multilateral and interdisciplinary process that constitute the field of operations research. The discipline of operations research thus encompasses various scientific domains and depends on solutions like statistics, modeling and structured algorithms to provide some useful answers to complex problems that pertain to various business processes and operations within an organization. In this context, operations research does not rely much on considering the exact nature or area of specialization of the organization. According to McMahon (2007, Pg. 87), the sole purpose of employing operations research methods is to determine a scientific answer to a given complex scenario that can enhance the performance of the company and thus requires the collaboration of experts from several disciplines to understand the problem from a quantitative perspective. Thus, operations research provides numerous tools, methods and procedures that help solve many issues pertaining to operations management (Wagen, 2009, Pg. 63). Operations management is also influenced by industrial engineering that helps understand a given problem area from an engineering perspective and develop re quisite solutions. The current paper describes the usefulness of operations management in organizing special events like seminars and conferences. Various issues pertaining to event management like planning, purchasing, inventory management, logistics, budgeting and quality will be considered when describing the applicability of operations management to this particular business area. The manner in which different components work together in organizing a successful event and the role of operations management in reducing costs and ensuring profitability has been highlighted. Specifically, the paper discusses the usefulness of operations management in organizing a networking event for reputed firms such as an investment bank. Investment banks regularly organize such events to interact with potential customers, forge new contacts with major players in different industries and strengthen relationships with existing customers. Typical attendees to these events included high profile repres entatives from several prominent companies operating in various industries. Role of operations management in organizing events A networking event, such as the one discussed in this paper, is not just a luxurious business party, but is in fact an important marketing exercise for investment banks that is aimed at promoting their services through personal interaction with potential clients. While the event has to display the reputation and prominence of the investment bank, the primary goal of the event

Tuesday, February 4, 2020

Literature review on ethical issue between employees and their Essay

Literature review on ethical issue between employees and their manegars - Essay Example The daily interaction, collaboration and interpersonal relationships required from managers and employees create tensions and issues that are considered normally pervading the working environment. Apart from operational concerns, managers and employees are faced with contrasting beliefs, values and preferences that occur because of the diversity in personalities, traits, cultural orientations and demographical factors that form each individual in the organization. These beliefs fall under ethical issues in business, defined as â€Å"â€Å"the principles and standards that guide behavior in the world of business† (Ferrell, Fraedrich & Ferrell, 2009, 6). In this regard, the current study aims to proffer a review of related literature on the subject of ethical issues between managers and employees. The theoretical framework and impetus for the review came as a result of an interview with a legal researcher for the Saudi – Central Bank, who identified problems which are et hical in nature and existed in their organization, currently affecting job satisfaction and productivity of employees. Ethical Issues in Business Organizations Ethical behavior have been identified to manifest actions that are â€Å"morally accepted as "good" and "right" as opposed to "bad" or "wrong" in a particular setting† (Sims, 1992, 506). ... According to Martires and Fule (2004), the culture of an organization influences the ethical climate that pervades. Organizational culture is a set of symbols, myths, ceremonies that reflect the underlying values and beliefs of the organization or its work force. This statement is supported by Hunt (1991) and Schneider and Rentsch (1991) who emphasized that there are factors that influence diversity in ethical climates of organizations, to wit: â€Å"personal self-interest, company profit, operating efficiency, individual friendships, team interests, social responsibility, personal morality, rules and standard procedures, and laws and professional codes† (cited in Sims, 1992, 510). As such, more detailed ethical issues facing human resources in organizations, particularly between managers and employees, are revealed by CiteHR (n.d.) to wit: (1) â€Å"discrimination issues include discrimination on the bases of age (ageism), gender, race, religion, disabilities, weight and att ractiveness; (2) issues surrounding the representation of employees and the democratization of the workplace: union busting, strike breaking; (3) issues affecting the privacy of the employee: workplace surveillance, drug testing; (4) issues affecting the privacy of the employer: whistle-blowing; (5) issues relating to the fairness of the employment contract and the balance of power between employer and employee: slavery, indentured servitude, employment law; and (6) occupational safety and health† (CiteHR, n.d., par. 1). In the case of the legal researcher for the Saudi – Central Bank, the ethical issue that existed between managers and employees was manifested in the way the manager discriminated against underperforming employees which further