As we travel through life, we all desire the best for ourselves. Maintaining improvement in all areas of life is among the best things anyone can do for themselves. Most of the time, we don’t think the stress is worthwhile; after all, Steve Jobs didn’t finish his degree, so why shouldn’t it apply to me?
Most success tales have low beginnings, and if we look closer, we can see that each level gained has seen many stages of progress.
My need for more became stronger as a result, and I eventually plucked up the guts to enroll in Lagos Business School (LBS). I naively believed it would be simple.
The admissions process, the quick faculty interview, and the lengthy wait for the admittance letter kept me awake because it seemed like there was no hope in sight.
I finally received the admittance letter, though I wasn’t especially happy with how long it took and how little communication there was.
My eyes were opened to the fascinating reality that handling operations effectively and efficiently necessitate a significant amount of processing to satisfy client demand. Our capacity compared to the demand is therefore the key to matching supply and demand. Controlling the movement of value from goods, services, money, and information is crucial.
More importantly, we must never forget the reason we are in business. A business or enterprise was not started for no reason. Any business’s main aim is to maximize profits. Thus, the conversion of investments into earnings or profits constitutes the business process. Operations management is essential because of this.
The science of controlling the flow of value creations (products and services) toward attaining the firm’s objectives can be referred to as operations management. Meet consumer requests, it also involves the design and management of the processes that ensure the efficient use of input materials, labor, information, and other resources. Planning, coordinating and controlling the resources required to generate a company’s goods and services fall within the purview of this business function.
Value addition, or the net increase between the value of the output product and the value of the input material, is one of the goals of operations management. Resources like labor, capital, and expertise are examples of inputs. The end outcome of the input through the transformation processes is known as the output, which is a good or service. The transformation of students (inputs) into graduates (outputs)at the Lagos Business School is a lovely illustration. The faculties, facilities, et al. are all part of the Lagos Business School’s transformation process or resources.
To fully grasp this idea, we must realize that everything we see and touch is the result of an operation. In other words, operation managers both produce the goods we use and provide the services we use and value. Of course, to order to satisfy client requests and generate profits, any corporation must ensure that its regular business operations work without a hitch.
Please anticipate more thrilling updates as there is still so much to share.