Operations Management in a Business Context - Essay Example

Moreover, the company with the provision of quality products and/or services has aim at attaining a better market position in the retail industry globally. At the same time, Tesco PLC also concentrated on building a healthy relationship with its employees and stakeholders with the intention of maintaining its competitive advantage in the retail market segment. The company has been communicating information with stakeholders, so that operations of the company can be conducted in a coordinated manner (1Tesco, 2014).

Over the years, Tesco PLC has diversified its business operation in different geographical location for providing several other services to its consumers that include telecoms and internet services and financial services among others. The company is listed on the “London Stock Exchange” market under the constituent of the FTSE 100 Index. According to the Tesco PLC Annual Report (2014), it is identified that the company has gained 3rd largest position among the world retail companies due to its wide range of products and services.

Moreover, it has been ascertained that Tesco PLC has earned approximately £43.6bn revenue (68%) from the local market of the UK. Consequently, the company has witnessed £10.3bn (16%) revenue from Asian market and £9.3bn revenue (14%) from Europe market during the year 2013-14 (Tesco PLC Annual Report, 2014). The objective of the essay is to highlight the five performance objectives, where operations management plays an important role for maintaining the competitiveness. Apart from this, the essay explains the impact of operations management performance objectives.

Operation management is one of the most essential aspects for an organisation based on which organisations manage their resources as well as activities more accurately. In this regard, an organisation can significantly control its performance objectives by