Dua Fatima

BBA171037
Assignment: 01
Operation Management

Q: What are some of the steps and their sequence that you would adopt for policy
formulation and implementation in operation management?
Following are the steps that are involved in policy formulation:
 Defining a primary task: Primary business functions are activities of an enterprise
yielding income: the production of final goods or services intended for the market or for
third parties. Usually the primary business functions make up the core  activity of the
enterprise, but they may also include other (secondary) activities if the enterprise considers
these as part of its core functions. Hence the first step of policy formulation is identifying
the core/primary tasks of a firm.
 Assessing core competencies: Core competencies are the resources and capabilities that
comprise the strategic advantages of a business. A modern management theory argues that a
business must define, cultivate, and exploit its core competencies in order to succeed
against the competition.
 Determining order winners and order qualifiers: An order qualifier is a characteristic
of a product or service that is required in order for the product/service to even be considered
by a customer. An order winner is a characteristic that will win the bid or customer's
purchase. Therefore, firms must provide the qualifiers in order to get into or stay in a
market. To provide qualifiers, they need only to be as good as their competitors.
 Positioning the firm:  In marketing and business strategy, market position refers to the
consumer’s perception of a brand or product in relation to competing brands or
products. Market positioning refers to the process of establishing the image or identity of a
brand or product so that consumers perceive it in a certain way. Positioning helps provide
the persuasive sales tools the business development.
 Deploying the strategy: The Strategy Deployment Framework (SDF) helps leaders
systematically translate their visions into strategic objectives and those into tactical and
operational plans. The framework serves as a basis for performance standards, planning,
decision-making, resource mobilization and allocation.

Policy Implementation:
Policy implementation involves translating the goals and objectives of a policy into an action.
Implementation is an important stage of the policy-making process. It means the execution
of the law in which various stakeholders, organisations, procedures, and techniques work
together to put polices into effect with a view to attaining policy goals. Implementation can
be viewed as a process, an output and an outcome, and it involves a number of actors,
organisations
 and techniques of control. It is the process of the interactions between setting goals and the
actions directed towards achieving them.
There are two main approaches could help to understand better how policy implementation
precedes the top-down approaches and the bottom-up approaches

The top down approaches: where the state policy implementation is influenced by federal level
factors such as the clearness of law or regulations that federal government sends to the state Or
the amount of resources that the federal government provides to the state which is crucial to the
successful implementation of policies, and that’s depend to the resources of the state or the local
government some states are more independent on federal governmental aid than others. All this
variable is very important to determine the success or the failure of any state implementation
efforts.

The bottom-up approaches: there are some bottom-up factors which may affect success or
failure of in implementation such as the state capacities (available resources and stuff) and the
disposition of state some policies could be easily implemented than other according to attitude of
state.

Q: What do you understand from balance scorecard in terms of Operation

Management?

The Balanced Scorecard, referred to as the BSC, is a framework to implement and manage
strategy.  It links a vision to strategic objectives, measures, targets, and initiatives. It balances
financial measures with performance measures and objectives related to all other parts of the
organisation. It is a business performance management tool. The balanced scorecard system aims
to provide a more comprehensive view to managers by complementing financial measures with
additional metrics that gauge performance in areas such as customer satisfaction and product
innovation. 
Four balanced scorecard perspectives

The balanced scorecard approach examines performance from four perspectives.

 Financial analysis, which includes measures such as operating income, sales growth
and return on investment.
 Customer analysis, which looks at customer satisfaction and retention.
 Internal analysis, which looks at how business processes are linked to strategic goals.
 Learning and growth analysis, which assesses employee satisfaction and retention, as
well as information system performance.