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    Fin

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    Kyrbe Krystel Abala
    If the operations department is ineffective in terms of resources, function, and implementation, it could seriously harm the business. Operations is responsible for manufacturing goods and services to meet demand forecasts set by marketing, and within budgets set by finance. Proper operations management is crucial for running the supply chain and can make or break a company. Ineffective operations would mean failing to produce the right products and services at the right time, costing the business customers and profits.

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    Fin

    Uploaded by

    Kyrbe Krystel Abala
    22 views1 page
    If the operations department is ineffective in terms of resources, function, and implementation, it could seriously harm the business. Operations is responsible for manufacturing goods and services to meet demand forecasts set by marketing, and within budgets set by finance. Proper operations management is crucial for running the supply chain and can make or break a company. Ineffective operations would mean failing to produce the right products and services at the right time, costing the business customers and profits.

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    If the operations department is ineffective in terms of resources, function, and implementation, it could seriously harm the business. Operations is responsible for manufacturing goods and services to meet demand forecasts set by marketing, and within budgets set by finance. Proper operations management is crucial for running the supply chain and can make or break a company. Ineffective operations would mean failing to produce the right products and services at the right time, costing the business customers and profits.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    22 views1 page

    Fin

    Uploaded by

    Kyrbe Krystel Abala
    If the operations department is ineffective in terms of resources, function, and implementation, it could seriously harm the business. Operations is responsible for manufacturing goods and services to meet demand forecasts set by marketing, and within budgets set by finance. Proper operations management is crucial for running the supply chain and can make or break a company. Ineffective operations would mean failing to produce the right products and services at the right time, costing the business customers and profits.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    1.

    As stated, Finance, Operations, and Marketing are the three basic functions in the organization, what
    will happen if the Operations Department is not effective in terms of resources, function, and
    implementation?

    In the previous semester, we’ve learned so much about organization such as how it works, where it can
    be applied, and it’s importance in the corporate world. In the words of Mooney, “Organization is the
    form of every human association for the attainment of a common purpose”. Many will characterize
    organization as the foundation upon which the whole structure of management is built. It is a core
    factor in any business which has three basic functions, namely: Finance, Marketing, and Operations.
    These functions are important for a business to succeed regardless of its form, size, and type.

    Finance as a function of organization is typically in charge for allocating financial resources, budgeting
    and forecasting expenses, procuring goods or materials that are necessary to carry out marketing
    activities, securing and distributing funds for operations and investments, and managing the company’s
    cash flow and financial assets. Some businesses owe their success in large part to their finance
    department. For instance, Amazon originally made their money not by selling books but by simply
    investing sales revenues in a short term between the time of purchase and the time of payment to the
    seller. Marketing is responsible for ensuring that the goods and services being offered by the business
    meet the needs and wants of the consumers. It is also relevant in reaching the target market and
    keeping the sales quota set by the business itself. Just as the finance department will create forecasts
    and budgets, a marketing department will prepare a strategic marketing plan which forecasts sales and
    more importantly acts as the blueprint of how a company will entice customers to purchase a firm's
    products and services. Operations is the function of a business that is responsible for manufacturing,
    creating and producing goods or services which the company sells within the boundaries of the budgets
    and forecasts supplied by the finance department as well as the supply and demand forecasts which was
    determined by the marketing department. It must produce products and services in line with what the
    marketing department has dictated in order to meet the needs and wants of the consumer. Operations
    is also the biggest player in running and managing the supply chain. Supply chain management is a
    crucial aspect of any business and the proper operations management approach can make or break a
    business.

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