By David Loader
Within the quick altering enterprise and fiscal markets, the function of operations supervisor is crucially very important to any organisation. As automatic procedures bring up and payment cycles shorten, the calls for on operations managers to embody swap and to turn into affordable individuals to the base line increases. This booklet follows on from basics of worldwide Operations administration, 2e (0470026537). writer David Loader explores the demanding situations of being a great manager and supervisor in an atmosphere of continuous swap, variable workloads and strain to bring caliber companies cost-effectively. He covers the main facets of the function, which come with coping with possibility, humans and consumers.
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Extra info for Advanced Operations Management (Securities Institute)
But risk is a diverse subject: the risk inherent in trading is different to the risk inherent in clearing and settlement. Risk affects everyone in their personal lives; measures to reduce risk range from inoculation against diseases to life insurance. It is not easy to manage every risk to which THE MANAGEMENT OF RISK 25 people might be subject but prudent planning does reduce the likelihood of the risk and its attendant problems. In essence, it is exactly the same in business. There are prudent measures that can be taken such as insurance and there are other actions that can be taken to protect a business from some of the risks it faces.
Examples of this are Andersen in the aftermath of Enron, and Ratners following the Chairman’s speech rubbishing the company’s products. It is particularly important to companies with strong brand names and highly competitive markets and to new firms such as the Internet stockbroking companies. A single error, ill-judged comment, missed performance standards, sloppy service delivery or a period of repetitive problems can undo years of building a reputation. Operations is at the front of the risk simply because it not only interfaces with external parties but also because it gen- THE MANAGEMENT OF RISK 43 erates much of the critical administrative work associated with the firm, such as payments and information distribution by which performance is judged.
Overdraft costs and lack of control over expenditure (particularly, expenses and consumables). There could also be loss if an injured party fails to claim benefits to which it is entitled. Operations is a business and will have a budget. The manager must be able to prepare and control that budget effectively. TECHNOLOGY RISK Technology is both power and danger. It gives advantages that can be exploited and problems that can be devastating. It drives operations but can equally be a constraint and it can be costly if not managed correctly.