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Functions of Operations Management

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Functions of Operations Management   Operations management involves the management of human,technology and system resources.The operations management functions,like in other management disciplines, include planning,directing,organizing,staffing,motivating and controlling to achieve the set organizational goals. In addition to the above management functions operation managers perform many other activities as given below. Facility location and lay out design-The facility location activity involves the decision of the location for the facility,manufacturing unit or service outfit,geographically.The layout design determines how the internal facilities (departments,equipments,service stations,workstations etc ) will be arranged. Job design and work measurement-The job design activity involves the structuring of work tasks assigned to an employee and the study of the tasks that make up the job.The work measurement activity involves the timing of the tasks that comprise a job.The j...
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Functions of Commercial Banks

Functions of Commercial Banks Commercial bank's function  can be categorized into two types. 1. Primary or Principal Function 2. Secondary or Ancillary function 1. Primary or Principal Function: Primary or principal functions of a commercial bank  are three types A. Acceptance of Deposit B. Lending C. Investment A) Acceptance of Deposit:  An important function of commercial banks is to attract deposit from the public. Those people who have cash account and want their safety; they deposit that amount of banks. Commercial banks accept deposits every class and source and take responsibility to repay the deposit in the same currency whenever they are demanded by depositors. B) Lending:  Another function of commercial banks is to make loans and advance out of the deposit receive in various forms. Bank Apply the accumulated public deposits to productive uses by way of loans and advances, overdraft and cash credits against approved securities. C) Investment: ...
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