Operations Management Essay Example | Topics and Well Written Essays - 1500 words - 4

Operations Management - Essay Example Here I want to thanks my parents as well for all their prayers and support. By, Department of Project Management, Faculty of Management Sciences _____________________________________________ Dated: 26-04-2013 Contents Introduction 4 Background of Coca Cola 5 Histogram 7 In statistics, a histogram is a graphical representation of the distribution of data. It is an estimate of the probability distribution of a continuous variable and was first introduced by Karl Pearson. A histogram in a representation of tabulated frequencies, shown as adjacent rectangles, erected over discrete intervals (bins), with an area equal to the frequency of the observations in the interval. The height of a rectangle is also equal to the frequency density of the interval, i.e., the frequency divided by the width of the interval. The total area of the histogram is equal to the number of data. 7 Value Chain Analysis of Coca Cola and Histogram 7 Conclusion 10 References 11 Introduction Organizations have been ma de to earn economic profit. The essence of profit maximization is very important from the standpoint of the organizations that is why the entities have to undertake effective long term strategies to expand the revenue recognition of the firm (Andrew & Collingwood, 2005, PP. 98). Organizations have been around the strategies and long term benefits, that is why the organizations have to keep a certain check and balance over its strategies merely for their long run growth. Operations management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods and/or services (Andrew & Collingwood, 2005, PP. 111). It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed, and effective in terms of meeting customer requirements (Andrew & Collingwood, 2005, PP. 95). It is concerned with managing the process that converts inputs (in the forms of materials, labor, and energy) into outputs (in the form of goods and/or services). The relationship of operations management to senior management in commercial contexts can be compared to the relationship of line officers to highest-level senior officers in military science. The highest-level officers shape the strategy and revise it over time, while the line officers make tactical decisions in support of carrying out the strategy. In business as in military affairs, the boundaries between levels are not always distinct; tactical information dynamically informs strategy, and individual people often move between roles over time (Andrew & Collingwood, 2005, PP 102). The entire world has been moving with a lightning speed and the stance of globalization is on its peak, in which any small effect on anything has an ultimate effect over the other things as well. Organizations have to take numerous strategies into account to sustain in the competitive environment. The competition stance has also increased due to the level of globalization, which enables the companies to undertake effective operating strategies as far as their long run growth is concerned. There is different analysis which an organization performs to assess the loopholes within its operations (Berry, 2001, PP. 52). Among different analysis