FINANCIAL ANALYSIS

Assignment A



Assignment A

Introduction

Role of operation in a company

The primary role of operations department in the company is to supervise, monitor, and control all the business operations of the company (Ramsaran, 2008, pp. 104-124). However, exact role and responsibility of operation manager might vary in different organization mainly depending on the size and structure of the organization. Some of the major responsibility that being the operations manager of Castle Nursing Home PLC I performed is described as follows.

Understanding of strategic objectives

It is imperative, for the operation managers of the organization to be aware organization goals and objectives, and to formulate a precise and appropriate strategy of how operation team would provide its assistance it accomplishment of those objectives.

Formulating operations strategy

Since operation department is involved in numerous decision making aspects and problems, and thus it is imperative for an operational manager to formulate an appropriate guidelines and strategies that could play a vital part in organization success.

Planning and controlling

Another major responsibility of operation manager is to control and monitor organizational daily operation, and to ensure that organizational resources are being affectively utilized.

Importance of business achieving performance targets

Performance targets could be considered as a benchmark that are primarily set to accomplish future organizational goal, to improve organization market, and to provide employee the opportunity of gaining growth.

Importance of using performance evaluation

Organization primarily implements performance evaluation system to evaluate the performance of the employees, to monitor their attitude, to resolve their problems and to identify black sheep that are raising obstacles towards the success of the organization (Croskerry, 2003, pp. 775-780). Another major importance of implementing evaluation system is that it enables the organization to appraise the employees based on their performance, to provide employees certain compensation, to resolve employee weakness and others.

Impact of modern techniques in enhancing competitive advantage

In modern era, technology sector has witness tremendous innovation and growth that has played a positive role in enhancing the competitive advantage of the business. For instance, with the implementation of new techniques an organization can easily identify its weakness and can develop strategies to transform these weaknesses into success. In addition to this, innovative techniques has enable the company to monitor the activities of their competitors, and to develop strategy create obstacles for the competitors.

Information

Role of information in decision-making

Information regarding the internal and external activities of the organization is considered the integral aspect of strategic decision-making process. However, in recent years an executive has witnessed an unexpected revolution particularly after the development of new technologies through which it has become easier and affective for organization to gather accurate and authentic information. Normally it has been observed that organization normally use rational process of gathering information, for example, information gathered regarding market position, competition level, product value, technologies, and others are normally used by organization as the foundation of developing strategies through which these changes could be implemented across the organization, and sustain the competitive advantage.

Type of information system could b e use by management

Information systems are computerized programs that ...