Assignment Task
INTRODUCTION
Controlling business operations and manufacturing processes is known as operation management in order to ensure that a business is running smoothly and efficiently. The effectiveness of Bounce Fitness’ activities will be evaluated in this paper through the use of a case study and metrics.The Six Sigma methodology and Henri Fayol’s idea of operational management are two of the most commonly used models and approaches for managing a company’s operations. Using the Six Sigma methodology, which emphasises continuous improvement, is an effective way to enhance processes. When it comes to operations management, quality is commonly accepted as one of the most important factors. Bounce Fitness uses the Six Sigma approach to continuously improve the company’s products and services. (Guha and Kumar, 2018) A company’s primary and elementary management theories could benefit from Fayol’s examination of operational management theory. Fayol’s theory describes the interaction between employees and management, and it is this philosophy that serves as the foundation for the organisational goals of Bounce Fitness.When strategic plans are implemented, an operational plan is produced, which in turn leads to the achievement of organisational goals. It is the operational plan that lays the groundwork for the formation of strategies that specify who will do what by when and how much. Who, what, when, and how much make up the operational strategy. Operational planning is shown in Figure 1, together with strategic and tactical considerations as indicated in the process flow diagram depicted in Figure 1.Performing a survey of the organization’s requirements, as well as analysing the resources required to meet the expectations of potential clients, are all steps in the budgeting approach. A well-thought-out operational strategy must be in place and actively being implemented before budgeting can begin. In this scenario, the financial statements of Bounce Fitness are also taken into consideration. In order to create the budget, the risk management calculations are also carried out. (Choi, et al., 2018). A draught is created in the early phases. A financial plan is formed as the process advances and is increasingly completeOrganizations rely heavily on Key Performance Indicators (KPIs) to assess their own and their employees’ progress. Customers and suppliers’ performance can also be measured using KPIs. On the other hand, Objectives and Key Results (OKR) or Objectives and Key Results (OKR) might be considered an alternative to KPIs when setting organisational objectives for improving business processes. OKR is a framework for setting organisational goals with the goal of improving performance(Lee, 2018). Another way to think about KPIs is that they are a set of measurements used to determine the success or failure of a specific initiative.
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