"Operations refer to activities that businesses engage in on a daily basis to increase the value of the enterprise and earn a profit. The activities can be optimized to generate sufficient revenues to cover expenses and earn a profit for the owners of the business. Key operating activities for a company include manufacturing, sales, advertising and marketing activities. Operations management (OM) is the administration of business practices to create the highest level of productivity possible within an organization. It is concerned with converting materials and labour into goods and services as proficiently as possible to maximize the profit of an organization. In simple terms, it involves planning, organizing, coordinating, and controlling all the resources needed to produce a company's goods and services. The operating income shown on a company's financial statements is the operating profit remaining after deducting operating expenses from operating revenues. Business operations include the location of your business and the processes, resources, and other tools that are needed to transform inputs (raw materials, labour, and capital) into outputs (goods or services). The presentation gives more details on operations management. "

Prachi Garg

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