MANAGING OPERATIONS

Managing Operations

Abstract

Today companies are competing in a very different environment from they were only a few years ago. They have to improve themselves in all aspects of their companies to ensure the success of their business. And operations management is one of the most important function which contributes to the success of companies if it is considered one of the competitive of companies (Popper, 2002: 23). Understand the importance of operation management, H&T Pawnbrokers has paid more attention to all aspects of its operation management to ensure the improvement of its business. How to improve the operation management in the business? The answer for this question will be found in the parts below.

Managing Operations

1. Company Profile: H&T Pawnbrokers

H&T is the country's leading pawnbroking company with significantly more customers and a far higher loanbook than our nearest competitor. The company has 114 outlets throughout the UK offering a range of services.

Strategic Business Units of H&T Pawnbrokers

Pawnbroking company offers many services and has following business units:

Pawnbroking

Jewellery Sales

Payday Advances

Prepaid Cards

Pawnbroking

The website of the company claims that we can instantly turn our jewellery into cash with H&T's pawnbroking service. In order to avail this service we'll have to bring the item or items of jewellery down to the local H&T outlet and highly trained and friendly staff will be able to get the customer cash in minutes. The company charges monthly interest on the loan and you can reclaim your goods at any time within 6 months. You simply repay the loan and any outstanding interest. There are no credit checks or handling fees and all loans can be renewed.

Jewellery Sales

According to the website of the company, if anyone wants to get money fast for his/her unwanted gold? Then the simplke process is offered by the company to have the required cash.The steps are given as under:

Collect together all of your unwanted, damaged or broken gold.

Take you gold to your nearest Gold Bar along with some address ID such as a utility bill.

Our highly trained and friendly staff will agree with you the amount you wish to sell the items for and then you just walk away with the cash.

Payday Advances

The website of the company has a detailed description about the payday procedure. A payday advance is simply an advance until you next get paid. Applying is simple, just visit your local H&T with the following items

Cheque book

Cheque guarantee card

Letter detailing your address- dated within the last three months such as a gas bill, tenancy agreement or catalogue statement

After completing this phase:

Write out cheques for the value of your Payday Advance

We agree with you the best day to bank the cheques within 30 days of the loan

You leave with the cash

To put this fee into perspective the company has compared it to an unauthorized overdraft charge from three major high street banks.

2. Marketing Mix

2.1 Product service

The H&T Pawnbrokers is equipped with many distinguishing features which draws clientele from all over the ...