Explain what is meant by"operations"in (a) hospital (b)university and (c)Commercial bank.
Operations is what an organization does to meet defined performance objectives. In each of those, the performance objectives are different, but the process of task definition, control, and measuring quality of performance is about the same, even though activities are far different. So in this sense, shipbuilding, managing FedEx, running a boarding house, or resturant, all entail the same basic principles: meeting performance objectives, within cost, and schedule, and quality.
In various contexts, the term "operations" refers to the fundamental activities or processes involved in running an organization effectively and efficiently. Let's look at how it applies to hospitals, universities, and commercial banks:
(a) Hospital Operations:
In the context of hospitals, operations involve all the activities necessary to provide medical care and support services to patients. This includes tasks like patient admissions, triage, medical examinations, surgeries, laboratory tests, medication management, emergency response, and overall hospital management. Hospital operations are vital to ensure smooth patient flow, quality care delivery, and efficient resource utilization.
To gain a deeper understanding of hospital operations, you can explore various aspects:
1. Visit the hospital: Observe how different departments function, such as emergency rooms, operating theaters, and patient wards.
2. Research: Read articles, books, or academic journals that discuss hospital management and operations.
3. Speak to professionals: Reach out to hospital administrators or medical professionals who can provide insights into the day-to-day operations.
(b) University Operations:
University operations relate to the administration and management of educational institutions. This includes activities like program development, curriculum design, admissions, student enrollment, scheduling classes, academic advising, faculty recruitment, exams, and maintaining campus infrastructure. University operations are designed to facilitate effective teaching, learning, research, and student support services.
To understand university operations better, consider the following steps:
1. Explore university websites: Take a look at the sections describing the institution's structure, departments, and administrative offices.
2. Attend open houses or campus tours: Participate in events that provide an overview of the university's operations, such as presentations by administrators or panel discussions.
3. Connect with university officials: Reach out to faculty members or student support staff who can clarify specific aspects of university operations.
(c) Commercial Bank Operations:
For commercial banks, operations primarily involve the various activities carried out to provide financial services like deposits, loans, foreign exchange, credit cards, investments, and transaction processing. This includes account opening, customer onboarding, credit analysis, risk management, cash handling, funds transfer, and overall banking operations management.
To familiarize yourself with commercial bank operations:
1. Visit a bank branch: Observe different areas within a bank, such as teller counters, loan offices, or customer service departments.
2. Research financial services: Study the different types of services provided by banks, such as retail banking, corporate banking, or investment banking.
3. Explore banking resources: Read books, articles, or online resources that explain banking operations and processes.
By following these approaches, you can obtain a more comprehensive understanding of the specific operations in the context of hospitals, universities, and commercial banks.