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How would each of 10 operation management decisions apply to operations decision making at regal marine?
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∙ 10y ago
How OM decisions apply to operations decision making at regal marine
Sofia Langosh
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What is asset management decision?
Hi, Asset management decision is that decision taken to manage the overall assets of a company. Company runs on assets and managing the assets effectively is one of the vital operation that the management has to do. Taking combine decision of the superior authorities regarding assets that how to manage and fit each company's asset is known as assets management decision. Thanks
What are the financial decision areas?
Modern approach of financial management provides a conceptual and analytical framework for financial decision making. According to this approach there are 4 major decision areas that confront the Finance Manager these are:- a) Investment Decisions; b) Financing Decisions; c) Dividend Decisions d) Financial Analysis, Planning and Control Decisions
What is the impact of organizational culture in its corporate decision making?
The impact of organizational culture in its corporate decision making is from top to bottom. This means that top management of the company makes all decisions and these decisions are mandated to the next levels of the company.
Difference between programmed and non programmed decision?
Programmed DecisionsThe Programmed decisions in Management of an organization are concerned with the relatively routine problems. These decisions are taken in the regular course of any business operations and occur at a day-to-day frequency.These decisions are repetitive and structured in nature. They are small and have a low scope of impact.Non- Programmed DecisionsThe Non-programmed decisions in management are concerned with unique or unusual problems. They are encountered in a very non-frequent manner.These decisions are unstructured, non-recurring and ill-defined in nature. Such decisions are relatively complex and have a long-term impact.The Informationregarding these problems are not easily available. As such, they require high degree of executive judgement and deliberation.Mayank Patel
What is included in information systems?
Management information systems (MIS) are used to help companies review business information and make decisions. An MIS exists outside the regular technological system because the MIS combines many parts of business information to aid managers. Internal and external information is gathered through the MIS for management to use when reviewing business operations.DefinitionA Management Information System (MIS) is the method a company uses to obtain reliable information regarding their business operations. The MIS should not be concerned with can the information be retrieved but how and what should be retrieved so management can make effective decisions. Once information is provided through the MIS, decisions can be made regarding the effectiveness of business operations. Proper MIS reporting utilizes the best technology and enhances information flow from each department in the company.TechnologyMany MIS systems contain a technological piece that helps management gather information quickly and accurately regarding each division in the company. Internal information is gathered using the current information technology used in the company; external information is gathered using the MIS, which uses technology to obtain external information relevant to company operations. Both sources of information will be used to review company operations and make company decisions.Project ManagementSome companies will create special project management positions to aid in developing their MIS for decision making. Project managers will learn how information can best be gathered and reported in the company for management. Information is only relevant if it can be gathered in a timely manner and contains information that management will find useful in decision making. Project managers will review all aspects of a company for how to best gather information for the MIS.System AdministrationOnce the project managers have completed their research, the MIS will be implemented into the decision making system. System administrators are responsible for maintaining the integrity of the system and ensuring that the information continues to flow through the MIS. Administrators will also review the MIS and discover if any new information should be included in the MIS flow. Administrators will also help communicate decisions from management to each department in the company that needs to improve or expand operations.Decision SystemA decision system is the process company management uses upon reviewing the information gathered by the MIS. Making decisions is critical to a company's success and future growth opportunities. Decision systems are designed according to the management style of the company and how many managers will participate in the decision process. Allowing more managers to participate in the decision helps create a strong consensus from the reported information, ensuring a greater success from each decision.Increase ProductivityOutside of increasing the effectiveness of management decisions, an MIS is built to increase the overall productivity of the company. Better information allows for companies to change inefficient operations and improve production methods and service functions. Increasing productivity helps companies
How would each of the 10 operations management decisions apply to operations decision making at Regal Marine?
How OM decisions apply to operations decision making at regal marine
What does business decision making process have to do with operation research?
When managers have to make decisions it should be based on thorough research. With operations research, management can implement the best actions based on their research.
Identify the critical operations decision areas in your organization Discuss the responsibilities of an operations manager while addressing these decisions?
We identify the four major decision responsibilities of operations management as process, quality, capacity, and inventory
Short-term decision making production management and operations management?
decison making in production management
What are the four key decision areas for the operations manager?
locationsupply management
Why management equated to decision making?
Decision making is the key aspect of management. There are lots of decisions that needs to be made by an organization's management in order to move the organization forward.
Cost implications of management decisions involving distributions?
the cost implication of management decision involving distribution
The primary functions of operation management is to guide by the decision making in system design and system operation?
nTQM n nSite Location & Layout n nInventory Management
Role of quantitative techniques in decision making?
Quantitative techniques in decision-making helps managers make decisions that are best for the organization. With numbers supporting decisions, managers can get the support of top management.
What is the importance of management information systems?
Management Information Systems are important because they provide information that supports operations, management and decision-making functions in an organization.
3 types of financing decisions under financial management?
The three types of financial management decisions are capital budgeting, capital structure, and working capital.In Some case Dividend decision is also part of financial management part although dividend decision comes under capital structure
What is decision management?
Hi, Asset management decision is that decision taken to manage the overall assets of a company. Company runs on assets and managing the assets effectively is one of the vital operation that the management has to do. Taking combine decision of the superior authorities regarding assets that how to manage and fit each company's asset is known as assets management decision. Thanks
