Core Operations Management Concepts Explained
Lean Manufacturing (TPS)
Lean Manufacturing (TPS) Lean manufacturing is a production approach focused on eliminating waste and improving efficiency. It originates from the Toyota Production System (TPS), which is based on two key principles:
- Just-in-Time (JIT): Products are made only when needed and in the exact quantities required, reducing excess inventory.
- Jidoka: Allows the production line to stop immediately when a defect appears so the problem can be corrected at the source.
Lean emphasizes continuous
Read MoreIndian Business Environment and Economic Policy
Unit 1: Business Environment Foundations
Nature and Determinants of Business Environment
The business environment refers to all external forces that influence a firm’s decisions, performance, and growth. It includes economic conditions, political stability, legal frameworks, technological changes, socio-cultural factors, and global trends. These components work together to create opportunities or threats for businesses. Determinants like government policies, market competition, resource availability,
Read MoreOperations Strategy: Fit, Performance, and Competitive Alignment
Operations Strategy Fit and Sustainability
Fit is the alignment between Market Requirements (MR) and Operations Resources (OR).
- Good fit leads to strong performance.
- Misfit leads to poor results and higher risk.
Key Concepts of Fit
- Line of Fit: The ideal balance between MR and OR.
- Tight Fit: Very efficient and low waste, but fragile if the market changes rapidly.
- Loose Fit: More flexible and adaptable, offering safety in dynamic markets.
Moving from strategy A to strategy B (improvement) temporarily causes
Read MoreProject Management Fundamentals: PMBOK Processes & Roles
PMBOK: Definition and Core Components
The Project Management Body of Knowledge (PMBOK) is a document published by PMI (Project Management Institute) that includes traditional and emerging good practices. Organizations use it to build policies, procedures, rules, and Tools & Techniques (T&T) for managing projects. It describes the knowledge within the Project Manager profession, who must tailor the application of PMBOK knowledge to each specific project.
PMBOK Components
Project Life Cycle
Project
MEAs, ESG and SDGs: Strengthening Global Environmental Governance
1️⃣ How MEAs Complement Domestic Environmental Laws
MEAs (Multilateral Environmental Agreements) are international treaties negotiated among several countries to tackle transboundary environmental issues such as climate change, biodiversity loss, and pollution. They set standards, targets, and enforcement mechanisms, which countries implement through national laws and policies, ensuring consistency and accountability. They also bring capacity-building and technical assistance to strengthen national
Read MoreEthical Standards in Beauty Retail Marketing
Intrinsic and Extrinsic Goods in Retail Marketing
(~1 handwritten page)
My chosen profession is Retail Marketing, specifically within the beauty industry at Sephora. Retail marketing involves understanding consumer needs, designing product communication, and shaping buying experiences across online and offline touchpoints. It is not only about selling but also about influencing how people choose, evaluate, and relate to products.
Defining Intrinsic Moral Goods
The intrinsic goods of my profession are
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