Module 11: BUSINESS BASICS

Published on Slideshow
Static slideshow
Download PDF version
Download PDF version
Embed video
Share video
Ask about this video

Scene 1 (0s)

[Audio] On our first lesson we are about to see the Business Basics and operations management.

Scene 2 (12s)

Lead Authors. Dr. Angeliki Kavga , Associate Professor of Greenhouse Construction and Operation, University of Patras, Greece, NEGHTRA PM Dr. Dapontas Dimitrios , University of Peloponnese, Greece.

Scene 3 (1m 23s)

[Audio] One of the first questions has to do on who is made to be a manager. On today's complicated environment people Need to work together. The possible manager should motivate and coordinate others in order to achieve possible targets. In other words managers are evaluated on the others work success..

Scene 4 (1m 50s)

[Audio] Thus, the structure of the entire system and general conditions are based on coordination. During planning, Organizations are structured on the right way. Main organizational goal is the survival and the growth through People and their effort..

Scene 5 (2m 19s)

[Audio] If someone wants to define the management he or she could say that it is the attainment of the organizational goals In an effective and efficient manner through four major processes : planning, organizing , leading and controlling Organization resources. A more compact definition is given by Mary Parker Follett defining management as the art of getting things done through people. Management Guru Peter Drucker on his own opinion is emphasizing on giving direction on the organization, provide leadership and decide how to use organizational resources to accomplish goals as well..

Scene 6 (2m 56s)

[Audio] The basic steps of managing. First you should have direction through setting goals and objective for now and the future. The initial plan should be revised and evaluated periodically. Finally, you lead an organization means that you will accept your share of responsibility as the top of the hierarchy..

Scene 7 (3m 28s)

[Audio] Management process begins when the organization secures the needed Human, financial , physical , technological and informational resources respectively in order to perform. Four major management functions are presented on the current slide. The planning where goals are selected and the way to attain them is decided. Second you organize And give responsibilities on who and how will accomplish each planned task. Then you will have to lead and motivate your employees in order to achieve these targets. The whole process is under your control and it has to be corrected and evaluated periodically. The result of management process is the output of products and services in an effective way..

Scene 8 (4m 22s)

[Audio] What skills should a manager have ? The art of management is based on Conceptual Skills, the cognitive ability to see the organization as a whole system. Human Skills, the ability to work with and through other people and technical Skills , the understanding and proficiency in the performance of specific tasks..

Scene 9 (4m 58s)

[Audio] The managers are differentiate based on their level on the organization. First-line managers are the lower supervisors followed by middle managers who are heads of company's departments. On the top level the managers who implement strategy and make decisions lay..

Scene 10 (5m 32s)

[Audio] A manager similarly plays asset of roles. He/ She is there in order to paste relationships among people(interpersonal role), to provide useful information to the whole organization (informational role) and finally has to make decisions who will effect organization on the short and long term (decisional role)..

Scene 11 (5m 53s)

[Audio] How can a manager become successful ? Though hard and smart work , should have patience , he /she has to think out of the box, deploy reading and acquire knowledge under ethical consciousness , collaborative relationships and perseverance..

Scene 12 (6m 20s)

[Audio] The organization meets its needs and objectives through strategy. Strategy helps to establish priorities, choose actions, create a plan, allocate resources and makes everyone proactive..

Scene 13 (6m 42s)

[Audio] Strategy is written down on a strategic plan where why exists , what aims to do and how is stated. This declaration makes organization to focus on it's vision and ranks priorities..

Scene 14 (6m 58s)

[Audio] In a strategic plan the organization has to be accessed, to develop it's own vision and mission in its environment, followed by an agreement on it's priorities. All these statements have to be written down and implemented on the short and long term. The plan needs to periodically monitored and evaluated in order to change the initial access.

Scene 15 (7m 40s)

[Audio] Through SWOT analysis, both internal an external forces are written down. Internal part consists of strengths and weakness. We are strong on what we do well and what internal sources we can deploy such as (knowledge , reputations or skills etc ). Weaknesses have to do with lacks on any business asset or what can we do better. External environment gives us opportunities we can take advantage of or a great need of provided services, but also it threats us through competitors and challenges that make business hard to work..

Scene 16 (8m 56s)

[Audio] The organization has a set of great purposes (goals) who outcome on the long term and they cannot be measured precisely. For example someone has a goal to lose 10 kilos up to Christmas. Shorter and easier step to achieve a goal is an objective. The objective has to be measurable. For example someone will lose 10 kilos up to Christmas if He / She follows the Atkins diet , doing 30 minutes of cardio exercise and 20 minutes of weightlifting every day..

Scene 17 (9m 58s)

[Audio] Goals have to be SMART. This is the abbreviation of five goal characteristics. Specific , State what to do by using action words, Measurable by providing a way to evaluate through metrics and data targets, Achievable within scope , accomplish and attainable . Relevant by making sense to job function which is improved and Time bound where you state exactly when you 'll get it done..

Scene 18 (10m 47s)

[Audio] Any organization activities on making goods or services can be measured through operations management. Exemplary Activities could be Forecasting, Scheduling, Quality management. Operations management is the business function responsible for planning, coordinating, and controlling the resources needed to produce products and services for a company. On our slide's example, the price consists of 5% profit, 21% Operations management cost 26% Marketing cost , 48% Manufacturing cost respectively..

Scene 19 (11m 32s)

[Audio] Operations Management is also the management of the systems processes that create goods and or provide services. It divides organization to finance , operations and marketing functions. The inputs (resources) turn to outputs (product or service) after some transformation..

Scene 20 (11m 58s)

[Audio] For example on food processing the raw vegetables are cleaned and the outputs are cleaned vegetables. Similarly if someone cuts, rolls and welds metal sheets can are made. Energy to cut vegetables give us cut vegetables. If we mix energy, water and vegetables and cook them the result is boiled vegetables. If we place cooked vegetables in cans the final product (canned food) is made..

Scene 21 (12m 54s)

[Audio] There are different types of operation. Goods are produced in farming, mining and construction. Warehousing , trucking , mail ,taxis etc. consist of storage or transportation. Exchange operation is based trading , renting , retailing etc. Entertainment industry consists of TV, movies radio etc. Mass media are examples of communication operation..

Scene 22 (13m 57s)

[Audio] Central idea on every operation process is the revenue rise through cost. Valuer added is the difference between the cost of inputs and the value or price of the product..

Scene 23 (14m 23s)

[Audio] In every process there should be measured, standardization on input means that production is mass and gets measured in terms of quantity where every one can help. Examples are iron, wheat or the most of the commodities. In contrast at customized output each job is different and the workers must be skilled on product or service providing. An example can be the hair cut process..

Scene 24 (15m 9s)

[Audio] In goods manufacturing the product is tangible , can be inventoried, there is low or no contact to customer thus the response time is relatively high. The investment lays on capital. On the other hand services are intangible, the product cannot be inventoried, the contact to the consumer is high, response time is instant and the service is based on labor..

Scene 25 (16m 0s)

[Audio] On the other hand they share the need of technology, they need quality, the measure performance on productivity and they have response issues. They must forecast the future demand. They have capacity , layout and location issues They have customers, suppliers, scheduling and staffing issues. The manufacturing often provides services and services often provide tangible goods.

Scene 26 (16m 29s)

[Audio] Decisions are made on three levels: Strategic , Tactical and operational level..

Scene 27 (16m 47s)

[Audio] Strategic decisions are senior management responsibility. They have broader view. For example are : How to guide success ? They are very risky and hard to take back . They effect business on the long term..

Scene 28 (17m 19s)

[Audio] Tactical are medium- range decisions focused on production. Tactical decisions align strategic decisions. They refer to use and allocation of resources. They have medium level of risk. Examples of tactical decisions can be :How many workers do we need? When do we need them? Should we work overtime or put on a second shift? -When should we have material delivered? Should we have a finished goods inventory?.

Scene 29 (18m 11s)

[Audio] Operational decisions involve everyday impact. The have almost no risk. Examples of operational decisions can be: What jobs do we work on today or this week? To whom do we assign what task? What jobs have priority?.

Scene 30 (18m 32s)

[Audio] Operation management can contribute to society on higher standard of living, improve the quality of goods and services with concern for the environment through improved working conditions..

Scene 31 (18m 51s)

[Audio] Thank you.. Chart Description automatically generated with low confidence.

Scene 32 (18m 55s)

Business Basics and Operations Management. University of Patras , Department of Agriculture.