A degree in Management, particularly an MBA has been among the top choices for professionals for the last couple of decades. Regardless of the stream of their study, students have pursued an MBA degree from various prestigious institutions in the country and abroad. However, has the trend changed in recent years or is MBA still the golden ticket to a successful career, especially in operations management? Let’s find out.
Recent surveys show that an increasing number of students prefer graduating in technology as opposed to more traditional fields like investment banking, chartered accounting and more. However, even with this rise in the study of technology, and companies hiring more technology professionals, there is still a need to set up businesses processes and run operations. Needless to say, professionals need to be well equipped to handle these processes and tasks.
What is Operations Management?
Operations management refers to the process of planning, organising and controlling the production or provision of services. It focuses on efficiently utilising resources to ensure an optimised output.
Operations management includes various kinds of tasks ranging from resource procurement, stakeholder communication to report generation, process improvement and more. Since each of these tasks is critical to the success of the entire process, companies look for seasoned professionals who can set up a process, identify areas of improvement and work under tight deadlines.
To become a successful operations manager, one must have a thorough understanding of the series of processes within a company, but most importantly one must have an educational background to prepare them for the role. Understanding the company values and coordinating accordingly is at the core of becoming a successful operations manager.
What is an MBA in Business Operations?
An MBA in Business operations offers insights into the global industry trends and enables you to meet client demand. With the rapid introduction of agile innovation and technological boom in recent years, there has been an increasing demand for integrating operations with technology. With this development in mind, the best business schools around the world are offering courses that prepare candidates for roles that require technical skills for operations process. These specializations often focus on product lifecycle management, to deliver reliable and relevant products and services.
An MBA in operations management can help students enter the industry and acquire the skillsets that are required for handling operations end to end (which can often require them to be knowledgeable in related fields like logistics or supply chain management) and take on leadership positions.
These MBA curriculums often include risk management, global political engagement tactics and more so that professionals are well aware of global trends, rules, regulations and more. Most importantly, an MBA in operations management will equip students with the ability of strategic thinking which is at the core of leading operations management programs, which not only helps them stay ahead of the curve but also prepares them for the future.
Skills Required of an Operations Manager
For running the operations process effectively, professionals must possess the following skills:
- Conflict management
- Organizational ability
- People management
- Budget development
- Critical Thinking
- Data processing
- Deadline management
- Stress management
Professionals must understand the processes within the company well enough to identify areas of improvement and scopes of innovation. The combination of understanding and coordinating the work of a company are central to becoming a successful operations manager.
The exact job functions can differ for an operational manager depending on the company that they work for. However, we can categorise operations management into two board branches – namely, manufacturing/production and service providers. For example, operations management for an automobile company would come under the category of manufacturing/production. As such their roles demands a clear understanding and planning of resource management, logistics management so that the product reaches the market and meets demand.
On the other hand, an operations management role in a healthcare organization would require them to focus on the services provided – whether it is admitting the patients and assigning the right professional to take care of them, getting their medical history documented, handling finances and more. Unlike in the manufacturing industry, professionals engaged in the operational roles in service companies often interact with the customers more.
Regardless of the intricacies of the role depending on the industry, operations management is and will continue to be of the utmost importance to any company and professionals handling these responsibilities need to well versed in the required strategies and skills. An MBA in operations management is sure to provide candidates with much-needed exposure and perspective on the global industry trends. Join Great Learning’s Executive PG Program in Management and upskill today.1