GROUP 3

PRESENTATIO
N
°Operations
Management
°Cost and
performances
monitoring
°Benchmarking
 OPERATIONAL MANAGEMENT
• is an area of management concerned with designing and
controlling the process of production and redesigning
business operations in the production of goods or
services. 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. Operations management is primarily
concerned with planning, organizing and supervising in
the contexts of production, manufacturing or the
provision of services.
• It is concerned with managing an
entire production system which is
the process that converts inputs (in
the forms of raw materials, labor,
and energy) into outputs (in the
form of goods and/or services), or
delivers a product or services.[3]
Operations produce products,
manage quality and creates
service.

° covers sectors like banking systems, hospitals, companies, working with

suppliers, customers, and using technology. Operations is one of the major
functions in an organization along with supply chains, marketing, finance and
human resources. The operations function requires management of both the
strategic and day-to-day production of goods and services.
Cost And
Performance
Monitoring
COST MONITORING
Is the process of planning and controlling the budget of a businees.
Cost monitoring accounting that allows a business to predict impending
expenditures to help reduce the chance of going over budget
Performance Monitoring
Is a process wherein the supervisor ensures that the employee is
progressing towards the goals and obejectives established
during goal setting. The supervisor makes sure that the work is
being accomplished in accordance to the standards established at the
beginning which acts as a benchmark and provides regular feedback to
keep the employee on track .
Examples of cost and performance
monitoring

COST PERFORMANCE
MONITORING MONITORING
• Cost Management is a broad set of cost accounting methods and management techniques
with the common goal of improving business cost-efficiency by reducing costs, or at least
restricting their rate of growth.
• Businesses use cost control methods to:
• Monitor,
• Evaluate and
• Ultimately enhance the efficiency of specific areas such as departments, divisions, or
product lines, within their operations.
• It aims at building a high performance culture for both the individuals and the teams so that
they jointly take the responsibility of improving the business processes on a continuous
basis and at the same time raise the competence bar by upgrading their own skills within a
leadership framework considering this performance objective:
• To enable the employees towards achievement of superior standards of work
performance.
• To help the employees in identifying the knowledge and skills required for performing
the job efficiently
• Boosting the performance of the employees
• Promoting a two way system of communication between the supervisors and the
employees
• Identifying the barriers to effective performance and resolving those barriers through
constant monitoring, coaching and development interventions.
• Creating a basis for several administrative decisions strategic planning, succession
planning, promotions and performance based payment.
• Promoting personal growth and advancement in the career of the employees
BENCHMARKIN
G
 Is a processes to how your business operates, you can
implement changes that will yield significant
improvements.

 That might mean tweaking a product’s features to more
closely match a competitor’s offering, or changing the scope
of services you offer, or installing a new customer
relationship management (CRM) system to enable more
personalized communications with customers.
• Although there are many forms of benchmarking, they can be classified
into three categories:
• 1. Internal benchmarking
• is used when a company already has established and proven best
practices and they simply need to share them
• 2. Competitive benchmarking
• is used when a company wants to evaluate its position within its
industry
• 3. Strategic benchmarking
• Is used when identifying and analyzing world-class performance. This
form of benchmarking is used most when a company needs to go outside
of its own industry.
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