,MNO3701 Assignment 1 (100% COMPLETE ANSWERS)
Semester 1 2025 DUE 2025; 100% trusted, comprehensive
and complete reliable solution with clear explanation
As the production and operations manager of ABSA bank, you
are the mentor to a new intern. Identify and explain to the intern
what the five (5) basic performance objectives for
production/operations management at your company entail.
Provide creative examples with each performance objective
applicable to ABSA bank. 15 Marks
Tips: This is an example of a typical long-question format that
you can expect in the examination. It is essential to provide a
well-structured and detailed response to ensure full marks.
When answering, please follow these key steps for each of the
five basic performance objectives:
1. Identify the performance area. √
2. Explain its significance in operations management. √
3. Provide a relevant example to illustrate your understanding. √
Each performance area carries 3 marks (3 marks x 5 objectives),
so it is important to elaborate sufficiently. Avoid answering in
bullet points, as this may result in a deduction of marks. Instead,
structure your response in well-developed paragraphs.
Additionally, I encourage you to be creative with your
examples, demonstrating your ability to apply theoretical
knowledge in a practical context. At a third-year level, critical
, thinking and application are key to excelling in your
assessments.
Five Basic Performance Objectives in Production/Operations
Management at ABSA Bank
As the production and operations manager at ABSA Bank, it is
my role to ensure that our operations are efficient, cost-effective,
and responsive to customer needs. One of the most important
aspects of managing operations is understanding the key
performance objectives that guide how we deliver products and
services to our customers. These objectives are crucial for
ensuring that ABSA maintains high standards of service delivery
and operational excellence. Below are the five basic
performance objectives in production/operations management,
explained with examples relevant to ABSA Bank.
1. Quality
Point 1: Cost in Operations Management
In operations management, cost is not merely about reducing
expenses—it’s about strategically managing the resources that
the organization uses to achieve its objectives. It encompasses a
wide range of activities and expenditures necessary to run the
organization, from materials and labor to technology and
infrastructure.
Why is Cost Management Important in Operations?
Semester 1 2025 DUE 2025; 100% trusted, comprehensive
and complete reliable solution with clear explanation
As the production and operations manager of ABSA bank, you
are the mentor to a new intern. Identify and explain to the intern
what the five (5) basic performance objectives for
production/operations management at your company entail.
Provide creative examples with each performance objective
applicable to ABSA bank. 15 Marks
Tips: This is an example of a typical long-question format that
you can expect in the examination. It is essential to provide a
well-structured and detailed response to ensure full marks.
When answering, please follow these key steps for each of the
five basic performance objectives:
1. Identify the performance area. √
2. Explain its significance in operations management. √
3. Provide a relevant example to illustrate your understanding. √
Each performance area carries 3 marks (3 marks x 5 objectives),
so it is important to elaborate sufficiently. Avoid answering in
bullet points, as this may result in a deduction of marks. Instead,
structure your response in well-developed paragraphs.
Additionally, I encourage you to be creative with your
examples, demonstrating your ability to apply theoretical
knowledge in a practical context. At a third-year level, critical
, thinking and application are key to excelling in your
assessments.
Five Basic Performance Objectives in Production/Operations
Management at ABSA Bank
As the production and operations manager at ABSA Bank, it is
my role to ensure that our operations are efficient, cost-effective,
and responsive to customer needs. One of the most important
aspects of managing operations is understanding the key
performance objectives that guide how we deliver products and
services to our customers. These objectives are crucial for
ensuring that ABSA maintains high standards of service delivery
and operational excellence. Below are the five basic
performance objectives in production/operations management,
explained with examples relevant to ABSA Bank.
1. Quality
Point 1: Cost in Operations Management
In operations management, cost is not merely about reducing
expenses—it’s about strategically managing the resources that
the organization uses to achieve its objectives. It encompasses a
wide range of activities and expenditures necessary to run the
organization, from materials and labor to technology and
infrastructure.
Why is Cost Management Important in Operations?
