Monday, 3 April 2017

What are the key issues for today’s business operations? – Part 1


Over the next few days, we’ll be taking a look at some of the key issues found in today’s business operations. Let’s begin with a quick look at the most common problems.

Economic conditions

Many managers have felt reluctant in making investments and hiring employees or rehiring laid off workers due to the long lasting recession.

Innovating

Innovations are an excellent way of bringing new value into an organisation. They can be used in processes, using the Internet or supply chain and they have many benefits including cost saving, increasing productivity, reaching new markets and improving customer satisfaction.

Quality problems

Operations have to be improved to avoid the common failures that are causing problems. Quality problems can be overcome by making improvements in product design, risk assessment, supplier oversight, product design, response times and testing.

Risk management

Risks come in all shapes and sizes, ranging from product recalls to man-made disasters. Risk management involves identifying the risks and finding ways of reducing or eliminating the risks.

Competing in a global economy


There is pressure to reduce the cost of labour as a result of the low labour costs in third world countries. Companies need to decide if they should outsource some or all of their operations to low wage locations, focus on reducing the costs internally by changing their designs and improving productivity. 

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