September 2021

Blue Ocean Strategy: Meaning, Advantages, and Disadvantages

Blue Ocean Strategy: Meaning, Advantages and Disadvantages

Blue Ocean Strategy is identified as the market for a product or a service where there is minimum competition or no competition. This strategy has been developed for searching for business opportunities where there are very few businesses operating in the market in a particular sector and there is no pressure for pricing. In a …

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Operations Management: Meaning and Importance

Operations Management: Meaning and Importance

The business world is becoming more and more complex every day. Operations management helps businesses to grow in the competitive market. Operations management (OM) is the administration process of business practices to create a higher level of efficiency and effectiveness within the organization. It gives attention to the supply chain management process of the organization …

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12 Main Components of Operations Management

12 Main Components of Operations Management

When discussing operations management, components of operations management take major importance in the subject. It is vital to identify what has created the operations management field. There are 12 main components of operations management that can be identified. The picture below depicts the 12 components of operations management. Forecasting– This component is related to using …

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