Internet Challange
Why is the operations function important in implementing the strategy of an organization? Explain why the changes put in place by Victoria and her team could either hurt or help the bank.
Operations strategy is the tool that helps define the methods of producing goods or services offered to a company. It is responsible for managing the resources needed. In order for Victoria and her team to hurt or help the bank, they need to be aware of the overall business strategy. Once analyzed, and changes are implemented, there will be a ripple effect felt by all of the different areas within the bank. They will then be able to gauge if the changes helped or hurt the business overall.
Develop a list of changes for the operations functions that should be considered by the bank. Begin by identifying operation management decisions that would be involved in operating a bank.
The list of changes that should be considered by Victoria and her team include online banking, staffing during high traffic hours, the location layout and facilities, drive thru facilitates and parking lots. The need for more telephone lines is also something that needs to be evaluated.
Think of improvements identified in answering question 2. How different would these improvements be if the bank had a strategy of cutting cost rather than supporting customer service?
Victoria’s team would concentrate more on online services and ATM locations and machines since they are cheaper and more efficient. This would help the bank cut costs while decreasing the amount of staff needed.
Operations strategy is the tool that helps define the methods of producing goods or services offered to a company. It is responsible for managing the resources needed. In order for Victoria and her team to hurt or help the bank, they need to be aware of the overall business strategy. Once analyzed, and changes are implemented, there will be a ripple effect felt by all of the different areas within the bank. They will then be able to gauge if the changes helped or hurt the business overall.
Develop a list of changes for the operations functions that should be considered by the bank. Begin by identifying operation management decisions that would be involved in operating a bank.
The list of changes that should be considered by Victoria and her team include online banking, staffing during high traffic hours, the location layout and facilities, drive thru facilitates and parking lots. The need for more telephone lines is also something that needs to be evaluated.
Think of improvements identified in answering question 2. How different would these improvements be if the bank had a strategy of cutting cost rather than supporting customer service?
Victoria’s team would concentrate more on online services and ATM locations and machines since they are cheaper and more efficient. This would help the bank cut costs while decreasing the amount of staff needed.