Business Opeations Essay

1293 WordsSep 2, 20136 Pages
Operations Marketing Finance Human Resource Specialist managers in: Interdependent – need to rely on each other OPERATIONS * Producing goods &/or services based on business goals * Responsible to transforming inputs and outputs * Characteristics differ according to whether the business is a manufacturer of goods or provides a service * Tangible products (physical, touch) products * Intangible products (services, actions) hairdresser 3 KEY ELEMENTS: * Inputs: Human, money, equipment, raw materials * Transformation: creation,/making/producing, delivery * Outputs: Finished product Transformation process in manufacturing a business * Simply transformed manufacturers (STMs) are goods that can be further processed in a wide range of processes. E.g. paper * Elaborately transformed manufacturers (ETMs) are manufactured goods that are highly processed and valued. E.g. books Transformation process in service businesses * Due to intangible nature of services, the operations processes are less physical or visible * They take form of knowledge, inputs and expertise Output * Outputs refer to the end result of a business’s efforts, the service or product that is delivered or provided to the consumer MARKETING Marketing determines the appropriate market for the business products, deciding on process, product features, promotions and channels of distribution (promotion, persuade) Functions: Promote, Persuade, Inform, Remind What is marketing? Marketing is a total system of interacting activities designed to plan, price, promote and distribute products to present and potential customers Without some form of marketing, customers may not even be aware of a products existence Target markets: 1. MASS MARKET 2. MARKET SEGMENTATION 3. NICHE MARKET MASS MARKET * In a mass market, the seller mass

More about Business Opeations Essay

Open Document