Need a answer with 500-700 words in APA format with References and Citations QUESTION 1 Operational performance is defined as the comparison of an organization’s performance with other standard factors such as legal compliance, efficiency and effectiveness of production with the reduction of wastes that the organization could manage. After an organization has disclosed the strategies, it is then forced to state its operational objectives that should be met to achieve the strategies. The company will then give out the ways it will use to achieve the objectives set, and they, therefore, set the working environment to fulfill at least some of the objectives set (Slack, Brandon-Jones & Johnston, 2011). This performance is of importance in a business because it always acts as the base of the business since it represents the business’ assets and acts as a central reference for the customers and competitors, to help make up strategies of overcoming competition in coming future (Slack, Brandon-Jones & Johnston, 2011). What is the importance of operations performance in a firm? Provide examples on how operation performance is used in your organization or a company that you would like to work for. ………………………………………………………………………………………………………. QUESTION 2 Operations Strategy Organizations need a strategy to implement the set performance objectives or goals. After the formulation of business performance objectives, the businesses need to formulate a strategy that will be followed to ensure that the set performance objectives are attained. To discuss operation strategies we first must know what operation strategy is. The strategy is the particular path that should be followed for the business to achieve the set goals. Operations performance is the pattern of strategic decisions that should be followed to attain the new set roles. Operations strategy should attain the following factors if it is to be considered successful. According to professors Hayes and wheelwright of Harvard University, there are four stages of operation contribution. Operation strategy is based on four perspectives. These perspectives are the various avenues that a business can use to formulate an operation strategy. This type of perspective guides the businesses operation strategy in relation its customers, other competitors and the market in which it operates. The perspective also focuses on the function that will be played by each of this factors in the operation strategy. The businesses views on how to satisfy the customers are given uttermost importance. The perspective focuses on the day to day operations of the businesses, and the strategy is formulated according to th
is activities. Ideas that result from the operational level of the business is what is considered in this perspective. The business organization will set the operational strategy because it is considered significant at the operational level. This perspective is focused on what the market or the customers require. The perspective is aimed at satisfying the customer. Different customers may require different operation strategies to satisfy them. Two factors are considered order is winning and qualifying objectives. Order winning is succeeding or winning in the business will qualifying is the customer’s consideration of the ability of the business to provide good and services. The other factor is product/service influence on the performance objectives; a product will require different strategies from the time its introduced to the market to its decline stage This type of perspective focuses on the availability of resources in the business for it to undertake a particular strategy. Resource constraints may cause a business to forego specific opportunities due to the unavailability of resources. A business also considers intangible resources in this perspective intangible resources are resources cannot be seen, but they are essential to the business and have real value. Strategic resources are also considered in the creation of operation strategy. To have a successful operation strategy, four factors are considered. This is the first thing to consider setting up an operation strategy occurs annually in many businesses this is because the strategy is not a factor set on a daily basis. The following factors are considered in the formulation of the strategy. This refers to how the operation strategy is executed. The following issues are important in the achievement of a successful implementation This is the constant watch of the strategy to ensure that it is adequately followed even in times when the business activities are rapidly changing. Monitoring is done to ensure that the mistakes are corrected. This is the evaluation of the results from monitoring the implementation of the operation strategy. Operation control may not be accessible due to the lack of clarity and the ambiguousness of the operation strategy. In which way should operations management be observed with the firm’s overall strategy? References Brennan, L. (2011). Operations management. New York: McGraw-ll. Greasley, A. (2008). . Los Angeles: SAGE. Heizer, J., & Render, B. (2004). . Upper Saddle River, N.J.: Pearson Prentice Hall. Slack, N., Brandon-Jones, A., & Johnston, R. (2016). . London: Pearson Education. Operational Strategy and Business Strategy. (2018). Retrieved from http://www.simply-strategic-planning.com/operational-strategy.html