The Institute Of Administrative Management Accounting Essay

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In this assignment, researcher is going to analyses the operations management roles and responsibilities, performance evolution importance to the company as well as improvement quality service to the company to get competitive advances. He also has to distinguish the information of the merchandise, the information of the contestants and the info about the distributing channel so that he can have the right strategy to help the company compete efficiently again the other competitors. If the corporation has its right policy, they can mature progressively and have income in order to exist in the marketplace. The responsibilities include designing the product, managing resources and deciding what resources are required, arranging schedules, equipment and facilities. Moreover, it includes management of inventory, controlling quality and designing the tasks required to produce the final product. Business decision making process and BDSS for the human resources manager has to inform the information about the presentation of the staffs, the staffs expectant in order to have instant change to recover the company's enactment. Information in strategic decision-making and information systems can be used by management and systems approach to solve problems and make decisions are the describing topics of the assignment. Researcher also describe the for quantitative techniques in decision-making and against cash-flow forecasting as well as marginal costing and break-even analysis as part of the decision-making process for implications of capital investment decisions by using the relevant investment appraisal techniques to the organization. Operations management is critical to any organization as efficient operations management can lead a company to success where a sin efficient management could lead one to failure   In order for operations management to be successful, the process must be able to add value during the transformation process of inputs to outputs. The valuable information which assistances he to do that is the information around the customers' desires and needs. Comprehend exactly the obligation of the clienteles is one of the best compensations of the business to earn long-term revenue.

Performance:

The role of operations within the company

Ronald (2010) the role of the operation management is the core task to the company. Within the company, operation management has to conduct and direct the operations and task to the company.

Pearson Education (2010) the main role of operations management is to orchestrate all the resources required to produce the final product. The responsibilities include designing the product, managing resources and deciding what resources are required, arranging schedules, equipment and facilities. Moreover, it includes management of inventory, controlling quality and designing the tasks required to produce the final product. To sum up, operations management is responsible for all aspects of the process of transforming inputs into outputs. Operations management is critical to any organization as efficient operations management can lead a company to success where a sin efficient management could lead one to failure   In order for operations management to be successful, the process must be able to add value during the transformation process of inputs to outputs.

Betts (2010) the term value added is defined as the difference between the final value of the product and the values of all the inputs. The higher the value added for a product the more productive and successful a business is said to be. Activities that fail to add value to organizations products are considered to be a waste. Operations management includes recognizing these wasteful activities and culling them in order to save costs. In addition to, adding value organizational processes must also be efficient. Efficiency means performing operations well and at the lowest possible cost. Operations management must analyze all activities improving efficiency and eliminating ones that don't add value. Efficiency can be improved by restricting processes, tasks and jobs in order to achieve the objectives with lower costs. Today's business environment is more competitive than ever, and the role of operations management has become the focal point of efforts to increase competitiveness by improving value added and efficiency.

The importance of the business meeting relevant performance targets

Pachura (2010) Business meeting is important for the organization and the organization's daily operation it is core to work appropriately. Organization may start their operation by daily meeting with their employees. Meeting is necessary for following perspective

Work efficiency

Arrangement of operation effectively

Decision making to the operation level

Daily and future operation plan

The importance of the business using performance evaluation

Importance of the business uses performance evaluation in the organization.

Quality improvement

Work efficiency

Business performance

Decision making to the operation level

Daily and future operation plan

The impact of a range of quality improvement techniques to increase competitive advantage

Ronald (2010) Quality management can assist an organization in achieving its objectives by increasing the production of processes, decreasing the risk of client commitments not being met and by providing a foundation which allows an organization to improve upon its internal processes. Implementation of a quality management system can assist an organization by helping measure the performance of the organization and assisting in taking action where improvements are required. It ensures that all the processes and the final product which is delivered to the client meet a certain standard and thus achieves customer satisfaction. Moreover, effective quality management can help identify non-conformances and provide corrective action to rectify those and also introduce preventive measures to ensure that non-conformances do not happen again. An important aspect of quality management systems is monitoring and measuring. This assists an organization is measuring its performance against customer requirements and company objectives. The organization can then identify its weaknesses and also evaluate options for improvements in order to steer the organization in the direction of its goals by not only efficiently managing its resources but also by ensuring that customer expectations are met. Quality Control is the ongoing effort to maintain the integrity of a process to maintain the reliability of achieving an outcome. It is an important element of operations management within organization. It is a crucial aspect of effective operations management. It involves continuously improving the processes and products of an organization in order to match the taste and preferences of its consumers. Recent advancements within quality management, such as outsourcing, business process re-engineering and total quality management assist an organization improve its operations management which in turn, assists an organization in achieving its objectives.

Quality management ensures that all processes of an organization work together in order to provide a product or service of the utmost quality, this helps improve customer satisfaction and consistently increases the quality of work of all organizational employees. Implementation of quality management systems assist an organization in meeting its overall strategic objectives by a Administering a proper analysis of the business strategy, incorporating strategic analysis in the Business Excellence Model and employing means of quality management. TQM provides a shift in management philosophy for improving overall organizational effectiveness. The focus is laid upon all members of the organization in order to continuously improve the processes of the organization and increase value to customers. Implementation of such a quality management system provides the organization with an environment of support which has a synergic effect on the company as a whole and helps in improving the organizational performance. Within a context of ever increasing competition among firms, implementation of TQM will provide managers with the means of sustaining a competitive advantage within their industry.

Information:

The role of information in strategic decision-making

Information is needed for production manager

Red Prairie Corporation (2011) the information a production manager essential to distinguish is about the manufacture process, the production agenda to ensure that the corporation can create the product on interval. He also wants information about the physical resources, the price and the excellence of the goods whether they please clients' needs or not. Also, the production manager will essential information about fitness and safety rules to ensure the excellence of the product, he also wants information about the assistants' skill to provide exercise class if essential to assistance the staffs have their finest performance and recover the superiority of the products.

Information is needed for marketing manager

Pachura (2010) the valuable information which assistances he to do that is the information around the customers' desires and needs. Comprehend exactly the obligation of the clienteles is one of the best compensations of the business to earn long-term revenue. He also has to distinguish the information of the merchandise, the information of the contestants and the info about the distributing channel so that he can have the right strategy to help the company compete efficiently again the other competitors. If the corporation has its right policy, they can mature progressively and have income in order to exist in the marketplace.

Information is needed for human resources manager

Ronald (2010) the info which a human resources manager wants to know is all the info about their staffs. Having a certain empathetic about the superiors, about their services, their faintness and other info is the basic condition of the human resources manager. The manager similarly has to know the info about safety, assurance and the administration law about working situation to make sure their business will not have any distress with that tricky in the forthcoming.

What type of information systems can be used by management and what support they offer

Management uses the following decision making system

Decision support system

Advameg (2011) Decision support system for a production manager essential to distinguish is about the manufacture process, the production agenda to ensure that the corporation can create the product on interval. He also wants information about the physical resources, the price and the excellence of the goods whether they please clients' needs or not.

Business decision making process and BDSS

Advameg (2011) Business decision making process and BDSS for the human resources manager has to inform the information about the presentation of the staffs, the staffs expectant in order to have instant change to recover the company's enactment

The reason for quantitative techniques in decision-making

Pearson Education (2010) Qualitative data assists to grow a hypothesis by using the collected information. Quantitative data analysis method used for some schemes such as tables, graphs and so on. In quantitative analysis data can be collected and consequently concerned at several scales of dimension. The investigator selects the quantitative data analysis to analyses the raw data from the targeted population which will be easy to analyze the following things:

ALICO's Loan and advances and its performance measurement

To measure LICO's internal efficiency and external market attractiveness.

The use of systems approach to solve problems and make decisions

Analysis of problems and synthesis solutions this approach entails to solve problems and make decisions

Problem analysis

Analyze performance,

Problems are deviations from performance standards

Problem must be precisely identified and described

Problems are caused by a change

Decision making

established Objectives

developed Alternative actions must

evaluated against all the objectives The alternative

Finance:

Reasons for and against cash-flow forecasting

Betts (2010) The importance of the decision-making process and break-even analysis as part

Eskow( 2010)Preparing break-even analysis and also Business Decision making will be costing technique is also known as direct costing charged to the cost units. Costing and break-even analysis is the part of the decision-making process. Cost, price and volume are on the relationship between Marginal Costing and break-even analysis.

The possible implications of capital investment decisions

Ronald (2010) Capital investment projects and is complex as it is a high-value decision by a business firm, implications of capital investment decisions is in the Capital budgeting is the acquisition and management of fixed assets. To be conventional from the capital investment project during its life, for various implications of capital investment decisions, to forecast cash flows that are expected.

The use of relevant investment appraisal techniques

There are 3 methods relevant investment appraisal techniques:

The Payback method

The Average Rate of Return (A.R.R) method

The Net Present Value (N.P.V) method.

Analyse the following financial information supplied by the director for 2010 and 2011 and discuss the trend/findings:

Trading profit and loss figures

2010

2011

Sales

600,000

570,000

Cost of sales

440,000

450,000

Gross profit

160,000

120,000

Expenses

105,000

88,000

Net profit

55,000

32,000

Findings and trend

In the 2010 Sales is 600,000 and 2011:570, 00 Sales. Here sales are decreased. In the 2010 Cost of sales 440,000 and 2011: 450,000. Cost of sales increase. In the 2010 Gross profit 160,000 and 2011: 120,000. Gross profit losses. In the 2010 Expenses is 105,000 and 2011: 88,000. Expenses are decreased. In the 2010 Net profit 55,000 and 2011: 32,000 Net profits decreased.

Balance sheet figures

2010

2011

Fixed assets

190,000

120,000

Current assets

131,000

151,000

Stock

300,000

173,500

Current liabilities

140,000

75,000

Working capital

169,000

22,500

Net current assets

359,000

142,500

Findings and trend

In the 2010 fixed assets is 190,000 and in 2011 it is 120,000. Current assets are in increasing trend. Stock is in decreasing trend. Current liabilities are in decreasing trend. Working capital is in decreasing trend.

Conclusion

Information in strategic decision-making and information systems can be used by management and systems approach to solve problems and make decisions are the describing topics of the assignment. The role of the operation management is the core task to the company. Within the company, operation management has to conduct and direct the operations and task to the company. Researcher also describe the for quantitative techniques in decision-making and against cash-flow forecasting as well as marginal costing and break-even analysis as part of the decision-making process for implications of capital investment decisions by using the relevant investment appraisal techniques to the organization. The main role of operations management is to orchestrate all the resources required to produce the final product. Operations management must analyze all activities improving efficiency and eliminating ones that don't add value. The responsibilities include designing the product, managing resources and deciding what resources are required, arranging schedules, equipment and facilities. Moreover, it includes management of inventory, controlling quality and designing the tasks required to produce the final product. Efficiency can be improved by restricting processes, tasks and jobs in order to achieve the objectives with lower costs. To sum up; operations management is responsible for all aspects of the process of transforming inputs into outputs. Implementation of quality management systems assist an organization in meeting its overall strategic objectives by a Administering a proper analysis of the business strategy, incorporating strategic analysis in the Business Excellence Model and employing means of quality management. Operations management is critical to any organization as efficient operations management can lead a company to success where a sin efficient management could lead one to failure   In order for operations management to be successful, the process must be able to add value during the transformation process of inputs to outputs. Forecasting those cash flows, the business owner has to take inflation is the implications of capital investment decisions. TQM provides a shift in management philosophy for improving overall organizational effectiveness.

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