Ladbrokes plc is one of the leading bookmakers in the high street in UK. It was established in 1886. Currently Ladbrokes plc operating with over 2200 branches across the UK and also operates in Ireland, Belgium and Spain. In this assignment we are focusing on the operational activities of the Ladbrokes plc.
The role of operations management
The operations management can be defined as the systematic processes which convert inputs in to finished goods or service by adding the value. The operations management is very important in modern days as the competitiveness among the businesses very high. Therefore most of the organizations do have a special functional unit for manage the operational activities of the organization. According to Nigel Slack, we can identify three different roles in operations management.
* Implementer of business strategy
This is the most basic task of the operations management where they help to implement the business strategy established by top management.
* Supporter of business strategy
The supporter role provides the company to effectively implement their strategy and make necessary amendments.
* Driver of business strategy
The driver of the business strategy relies on the unique capabilities it has. If they do not have unique capabilities then they cannot be a driver of the business strategy. Here we can conclude as the operations management function cannot be a supporter of the business strategy unless they have the implementation skills and, cannot be a driver of the business if they do not have the unique capabilities. Importance of effective operations
The effective operations management is one of the key ingredients in successful organization. Because they are mainly deals with the implementation process of company business decisions. If the implementation is not effective then the whole strategy becomes the waste. Therefore for the following reason can be highlighted as the importance of operations management.
The cost is main concern for any businesses as they are trying to maintain cost effectiveness. Therefore the implementation process comes with the budgeted cost where the businesses try not to go over the target. In order to maintain cost effectiveness they have to maintain efficiency and effectiveness of operational process. If not then the strategy will become less effective.
Time is an important factor in modern business as the environment is very competitive. Therefore who ever able to react quickly to the market trends will be able to gain the competitive advantage. Therefore operational process will help to reach the customer quickly to gain the advantage if the process is efficient and effective.
Quality is one of a key factor of the success of any organization. Therefore to compete in the market the product or service that offers to the customers should be high quality and reasonable price. Therefore the operational function will be in conjunction with other functions to provide the better quality product or service.
* Technological changes
The technological environment is changing faster than ever before. The new advanced technology is affecting every process of the organization. Therefore the right choice of the technology gives competitive advantage to the businesses. Therefore operational function will help to identify the need of new technology to compete in the market.
Strategic objectives of Ladbrokes plc
Strategic objectives can be defined as the long term goals that an organization expecting to achieve. Strategic objectives are mainly establishing on focus of external environment. However these objectives are different from businesses to business according to the industry, market they operates. The following are the objectives of Ladbrokes plc in UK retail sector. * To become a leading book maker on the high street.
* To deliver...