Principles of Business Admin. PI: Operations

Comply with policies and procedures for use of property and equipment

All policies and procedures should be meticulously read and clearly understood by all employees

Follow safety precautions

All safety precautions should be followed carefully to prevent damage to employees or property.

Explain the concept of supply chain

Describes the path a product takes from its inception to its end user. Supply chain management may include many steps along the way and involves coordination between all those steps. Besides the physical part the product takes, there are other flows, such as financial or logistics. Orders must be made and completed and produces must be delivered on time, from raw materials at the beginning of the chain, to the delivery to the consumer. Efficient supply chains ensures healthy relationships with suppliers and distributors, retailers, and consumers.

Identify resources needed for project

land, labor, capital, entrprenuership

Explain employee's role in expense control

Employees play a large role in keeping operating expenses at a sustainable level. Examples include not using company resources, looking out for shoplifting and employee theft, working efficiently and eliminating the need for businesses to hire "extra" help, and following procedures that are designed to maximize efficiency.

Protect company information and intangibles

It's essential to know the appropriate ways to protect company information. Examples include using passwords and restricting file access to protect information. As well as using trademarks to defend the company's brand names using patents/copyrighted materials to protect written material.

Evaluate vendor performance

Often evaluated on the basis of price, available discounts, reliability, and timeliness. Reliability and timeliness are the most important. Going with the least expensive vendor is not always the best choice. Vendors that are always on time with deliveries, responsive to changes in needs, and willing to build a long-term relationship are often the best choices.

Explain the nature of overhead/operating costs

Overhead costs are ongoing business expenses not related to direct labor, direct materials, or third-party expenses that are billed to customers. Examples include rent, utilities, and insurance. Overhead expenses can be "fixed", meaning they are the same from month to month no matter what. They can also be variable in some cases, meaning they increase or decrease depending on level of use.

Explain the concept of production

Production is the concept of designing, developing and manufacturing a product. It is one of the functions of marketing.

Explain the impact of the purchasing process on productivity

Productivity through intelligent purchasing is vital to the operations and profitability of a business. The formal process of buying goods and/or services can increase productivity as when the company profits, employees are more likely to be motivated.

Monitor projects and take corrective actions

Project Monitoring refers to the process of keeping track of all project-related metrics including team performance and task duration, identifying potential problems and taking corrective actions necessary to ensure that the project is within scope, on budget and meets the specified deadlines.

Evaluate project results

Project feedback can be collected from a group of consumers or evaluated by employees of the company. Ties back to success!

Develop project plan

Project plans should include monetary expenditures, time constraints, and any criteria.

Identify quality-control measures

Quality control measures include: inspecting products, observing workers performing their duties, mandating certain certificates or degrees, receiving feedback on products and worker performance from customers. The basic goal is to ensure that goods, services, or processes meet specific requirements and are dependable, satisfactory, and fiscally sound.

Explain routine security precautions

Safety precautions include using security personnel or electronic surveillance, planning effective store layouts, screening potential employees, posting safety procedures and having regularly scheduled employees meetings covering relevant security & safety topics. Help ensure continuous business operations by minimizing risk at virtually every level of the organization. We must be interested in traditional security functions- including locks, alarms, and security personnel. Add safeguards, install security cameras and sensors, and always lock down the building as you leave. All facilities should be frequently checked to ensure safety protocol is being adhered to

Explain the benefits of supply chain collaboration

Supply chain collaborators can work together as designers and manufactures to produce the commodity while marketing specialists and vendors distribute and sell the commodity.

Manage the bid process in purchasing

When a customer buys goods, services, or the initial public offering (IPO) of stock, the bid process can be used to offer the product to the one with the best price.

Plan project

-Identify project objectives, resources, and constraints - Engineering Design Process?!? -USE A DESIGN BRIEF!!! :) Designer Client Problem Statement Design Statement Constraints Deliverables

Evaluate project success

1. Schedule. Project management success is often determined by whether or not you kept to the original timeline. ... 2. Quality. The end of a project phase is a good time for a quality review. ... 3. Cost. ... 4. Stakeholder Satisfaction. ... 5. Performance to Business Case.

Explain the nature and scope of purchasing

A person who purchases goods for business purposes is called an organizational buyer. The types of purchasing situations include: new task purchase, in which a purchase is made for the first time; modified rebuy, where the buyer has had experience buying the good or service but some aspect of the purchase has changed; and straight rebuy, when a buyer routinely orders the goods or services from the same vendor(s) as in the past. Suppliers should be selected using the following criteria: production capabilities, past experiences, special buying arrangements, and special services. Purchasing also involves the skill of negotiation. Items to be negotiated include prices, dating terms, delivery arrangements, and discounts.

Describe the use of technology in operations

A variety of computer applications assist businesses in their operations. - Word processing programs allow you to develop reports, letters, and announcements. - Database programs enable you to maintain customer lists and catalog inventory records. - Spreadsheet software helps you analyze financial data and track business performance. - Uses for desktop publishing programs include creating layouts for forms, advertisements, and product manuals. - Presentation software assists you in delivering visual and verbal information for meetings. The Internet has become an integral part of the business world. Companies use websites for promotion and as a way to stay connected with their customers. - Web-page editing software enables you to create and maintain a website. - Communications software allows you to communicate electronically with others around the globe through computers and videoconferencing.

Report noncompliance with business health and safety regulations

Any conditions of a working environment that are unsafe or unhealthy must be reported immediately. In some instances, it is best for the employee to report the issue to someone in the organization who has the power to take corrective action. In other cases, the employee may be best served by reporting the problem to the appropriate government agency depending how serious the issue is. When reporting, it is highly important for the employee to have documentation and access to people to verify the accusation. If health and safety standards are being violated, they should be reported to management to prevent damage to employees or property.

Discuss the role of ethics in operations

As with any area of business, ethics plays a large role in operations. Not following company protocol and taking shortcuts for day-to-day activities is unethical. Employees may often be tempted to take the easy route when performing day-to-day tasks that can be easy and boring. Taking a short cut could certainly be an unethical decision and could lead to less efficiency and loss of revenue for the business. Employees should not disclose classified information and should not make any decisions unless authorized to do so

Explain the nature of operations

Business operations are the ongoing, recurring activities involved in running a business on a daily basis. Examples: stocking shelves, bill paying, order taking, and order fulfillment. Hotel: pool maintenance, housekeeping, and front desk activities. Do not involve activities that deal with short-term project management. It can either make or break a business.

Describe health and safety regulations in business

Businesses are expected, no matter what the conditions are, to regulate safety and health concerns for all employees. Must also regulate a safe and healthy working environment in order for the business operations and productions to run smoothly. Businesses that don't adhere to Occupational Safety and Health Administration (OSHA) may be fined or even shut down. Therefore businesses are expected for provide workers with a safe and clean environment.

Maintain a safe work environment

By following instructions, regulations, and precautions, employees can maintain a safe work environment. Update employees and customers about new safety precautions and put up signs to warn of danger whenever possible.

Maintain inventory of supplies

Create a system to follow: A system for employees to follow when checking inventory. A procedure to record the incoming and outgoing stock of items should exist. Make it a routine: inventory needs to be checked at specific time intervals. Making it a routine instead of having sporadic inventory. Checks can keep a business on track. Get everyone on board: Maintaining inventory only works if employees are following the correct procedures. Make sure all employees know the steps to follow.

Discuss the importance of utilizing ethical purchasing methods

Debts should always be paid on time when purchasing a product. Although one can declare bankruptcy, this has devastating consequences on the individual and the business.Be honest about prices and promotions, use a legitimate method of payment, and be honest about what exactly is being purchased.

Follow established security procedures/policies

Established security procedures allow employees to know what to do in certain situations without them making a personal judgment. Security policies protect the business from negative financial impacts from both employees and customers. Ensure that employees know all security procedures and policies and are actually following the procedures. Companies often have their own security safeguards: name badges to access certain business locations, passes to access parking areas and log-ins to access the company. -All security policies and procedures should be understood and followed meticulously to prevent damage to employees or property.

Follow instructions for use of equipment, tools, and machinery

Follow instructions for use of equipment, tools, and machinery- Proper training on any piece of equipment is essential. This will provide employees with confidence and safety when they must operate the equipment. Instructions should be read meticulously before equipment is operated. If necessary, employees should ask the manager for assistance.

Explain information privacy, security, and confidentiality considerations in business

Information should always be encrypted and secure from cyber-criminals and should not be disclosed without authorization. Only those who absolutely need the information should have access to and know it.

Maintain data security

Maintaining data security is the act of controlling the integrity of data to ensure data is not accessible by unauthorized parties. An important aspect of this would be physical security which includes the steps a firm takes to guarantee the security of the actual business and its physical assets. Ex: locking the serving room and protecting storage closets. Employees are also critical since they can take steps into maintaining data security by changing passwords regularly, updating software and backing up information.

Place orders/reorders

Orders and reorders are sales contracts, or agreements between two entities agreeing for the financial transaction and tangible or intangible exchange of a good or service.

Apply project-management tools to monitor and communicate project progress

Project progress should be tracked by project managers (PMs) and communicated to higher-level managers to develop marketing strategies.

Explain the nature of project management

Projects are short-term business activities. Project management is a carefully planned and organized effort to accomplish a specific and usually, one-time objective. Project management is the concept of leaders and employees handling a task including the design, development, marketing, and sales of a product. 1. Developing a project plan, defining and confirming the project goals and objectives 2. Identifying tasks and how goals will be achieved 3. quantifying the needed resources 4. determining budgets and timelines. It also includes managing the implementation of the project.

Utilize quality control methods at work

Quality control in operations can make or break a company. In a restaurant industry, customers don't want bad service, or below average food that unhealthy or even hazardous. In order to keep a good reputation, use quality control methods such as scheduling health inspections, having an employee training session, or having various random inspections to ensure a company is meeting specific quality requirements.

Explain procedures for handling accidents

Report all non-emergent accidents to management immediately, in the case of an emergency, call for help and then have someone notify management of the emergency. Always survey an accident scene before you do anything. Do not make any assumptions. Figure out what has already happened, and determine what may happen next. If someone is injured, administer first aid and get help if needed. Do not move a victim who may have a back or neck injury. Clear the victim's airway and check to see if he/she is breathing. Check for a pulse or severe bleeding. In the event of a fire, leave the building immediately using the stairs or a window. If you cannot leave, stay close to the floor to avoid smoke. Before opening a door, put your hand on it to feel if it is hot. If your clothes catch fire, stop, drop to the floor, and roll to put the fire out. Do not try to put out the flames yourself. During an earthquake, stay inside and move to a doorway or under a table. If you are outside, stand out in the open away from things that may fall. If a tornado threatens, go indoors and stay away from windows. Cover yourself with a mattress or blanket. If you are outside and cannot get inside, dive into a ditch or other low ground area and stay down.

Handle and report emergency situations

Respond as soon as possible to the injured person and give first aid. Get the facts about the accident soon after the incident. Document the accident within 24 hours. Follow up with the person and his/her family and let them know there is a system in place to take care of the inures.

Describe crucial elements of a quality culture

The following elements are included in quality: Upper management commitment and support, strong leadership, teamwork among employees, shared communication across the organization, clear organizational goals, a commitment to continuous improvement.

Select vendors

Vendors are often selected using the following parameters: Ability to consistently supply requested materials on time. Flexibility in providing rush or extra deliveries. Amount charged. Discounts offered. Reputation. And viability