Operations Management - An Integrated Approach - Case Study Example

Operations Management - An Integrated ApproachQuestion OneThe operations aspect of the business undertakings of an organization is central to the success of that organization. Implementing a strategy by an organization is fundamentally influenced by the operations function. This is due to the fact that organizational operations encompass designing and managing products and services, processes and supply chains in a firm (Kumar, 2006). The changes pursued by an organization affect these components in one way or another.

For Prime Bank of Massachusetts, changes being considered by victoria Chen and her team are likely to hurt or help this financial institution. This is because such changes will directly affect customers, suppliers, shareholders, employees and the society (Kumar, 2006). The effect is not certain, thus the possibility of success or failure prior to implementation of the changes.Question TwoThe bank is concentrating on a customer-based change, in a bid to exacerbate its competitive advantage. Staffing, layout and facilities are the critical targeted aspects in the customer service pursuit (Dan Reid & Sanders, 2005).

The operations management should further account for an all-round treatment of operations components. These are: quality, speed, dependability, flexibility and cost (Dan Reid & Sanders, 2005). Since the bank is concerned with the customer aspect, the cost factor does not count in the required changes. However, it is important for the management to ensure that the bank operates within budget. The bank’s strategy to enhance its competitive advantage should target quality of its financial services, speed of service at all levels, institutional dependability and flexibility of financial services to suit the different customers served.

Facility upgrades will also complement these undertakings.Question ThreeA strategy tailored towards cutting costs rather than promoting customer service would require operational adjustments and re-adjustments where possible. Cutting on costs means that no additional costs can be incurred, and the already observed budget should be on the verge of declining. The improvements aforementioned in question two may need to be re-evaluated. The primary concern would be to enhance efficiency and effectiveness of the already functioning system in the bank.

Facility upgrades may not be employed, but the quality, speed, dependability and flexibility aspects can be redesigned to become more efficient at the current or even lesser budget. ReferencesDan Reid, R & Sanders, R. (2005). Operations Management: An Integrated Approach. New York: John Wiley & Sons. Kumar, S. (2006). Production and Operations Management. New York: New Age International.