Operations Management
| Course Code | VBS201 |
|---|---|
| Qualification | Statement of Attainment |
| Payment Options | Upfront & Payment Plans |
| Delivery | Online & Correspondence |
| Duration | 100 Hours |
Are you about to launch a new business? Do you have a business idea and need to learn more about the processes of the business? Are you moving upwards in your current workplace and need to develop skills of managing the business operations? Do you want a new set of skills on your resume or CV? Business Operations provides absolutely essential knowledge on how most businesses operate and understanding how their functions are interrelated to other competitors and the economic environment overall. Learn more and confidently lead the operations of the business you work in!
There are nine lessons in this course:
The Economic Environment
- The world of economics
- Scarcity
- Opportunity costs
- Goods
- Definitions
- Economic systems
- Economic ownership
- Performance criteria for an economy
- Other economic performance indicators
- Basic economic principles
- Law of demand
- Law of Substitution
- Law of diminishing return
- Law of diminished marginal utility
- Competition
- Sustainability
- Total Quality Management
- Strategic Planning
- Creating a strategic plan
External Influences
- Monopoly
- Monopolistic Competition
- Oligopoly
- Perfect competition
- External Influences
- International markets and tradeable commodities
- Globalisation
- Supply and demand
- Market forces
- Demand
- Supply
- Elasticity
- Economics of scale
- Cost structures
- Liquidity
Information Management
- Scope and nature of office work
- Functions of an office
- Common jobs in an office: reception, clerical, secretarial, information processing
- Departments within an organisation
- Office processes
- Data knowledge, storage and management
- Filing systems
- Classifying information
- Hard copy
- Filing procedure
- Data protection
- Financial records
- Books needed in business
- Different ways to approach bookkeeping
- Steps in the bookkeeping process
- Developing a record keeping and accounting system
- Flow of information
- Financial reports
- Ledger
- Journal
- Source documents
- Cash transactions
- Credit transactions
- Returns and allowances
- Other business documents
- Use of business documents
- The cash book
- Credit sales and credit purchases journal
- The general journal
- The ledger
- A trial balance
- Bank reconciliation
- Petty cash
Strategic Planning
- Strategic planning
- Documenting the strategy
- Operational planning
- Documenting an operational plan
- Key components of a business plan
- SWOT analysis
- A planning procedure
- Decisions
- What to plan for
- Finance
- Structure for a Financial plan
- Developing a budget
- Structure for a marketing plan
- Plan drawing
Implementing Strategies
- Implementing strategy
- Benchmarking
- Reviewing strategy and strategy management
- Environmental audits
- Key elements of EIA
- Steps in an environmental assessment process
- Study design
- Baseline studies
- Predicting impacts
- Mitigation measures
- Flora and fauna assessment
- Open space management plan
- Rehabilitation plan
Developing a Business Plan
Business planning
Case study: nursery development plan
Sensitivity analysis
PBL project to formulate criteria required for the successful implementation of a business proposal to develop a business plan.
Business Control Systems
- Financial statements
- The balance sheet
- Classification in the balance sheet
- Working capital
- Profit and loss statement
- Link between profit and balance sheet
- Depreciation of assets
- Analysis and interpretation of accounting reports
- Analytical ratios
- Ratio yardsticks
- Profitability ratios
- Operating efficiency ratios
- Efficiency ratios and profitability
- Liquidity ratios
- Liquidity analysis and cash budgeting
- Financial stability ratios
- Gearing rate of return on investment
- Limitations to ratio analysis
- Risk
- Risk analysis
- Contingency planning
- Business systems
- Quality systems
- Innovation management
- PERT (Program evaluation and review)
- CPA (Critical path analysis)
- GNATT Charts Fastest and slowest completion times
- Business expansion and sources of finance
- Record keeping
Evaluating Marketing
- Introduction
- Market research
- The marketing mix
- Marketing planning
- Services marketing
- Customer service
- Buying, selling and decision making
- Different heuristics
- Decision making process
- Customer satisfaction
- Goodwill
Marketing Strategies
- Target markets and market segmentation
- Targeting strategies
- Defining your target market
- Determining market segmentation
- Projecting the future
- Positioning
- Case study
- The business portfolio
Each lesson culminates in an assignment which is submitted to the school, marked by the school's tutors and returned to you with any relevant suggestions, comments, and if necessary, extra reading.
For more information get your free course information pack today!
If you are an Irish citizen you may be eligible to receive financial support, meaning you can defer payment of your course fees. Additionally, if you are a resident of Ireland, you may also be eligible to receive a student grant under the Student Grant Scheme
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As an enrolled student at Learning Cloud, you are entitled to access a variety of non-academic support services from the Student Services Unit. These supports are designed to walk beside you throughout your studies they will assist you in life’s ups and downs to provide you the best opportunity to successfully complete your chosen course.
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How will this course advance my career?
Learning Cloud programs have been developed in response to industry demand and are specifically designed to equip graduates with work-ready skills. Each participant will be trained and assessed in theory and in practical tasks and Real-world exercises are used throughout the program.
Studies prove, time and again, that college-educated workers earn more than those with only a high school qualification. College graduates often enjoy additional benefits, including greater job opportunities and promotions. Though the proof for greater earning potential exists, some might wonder whether the cost of the education warrants the overall expense in the long run.
College Graduate vs. Non-Graduate Earnings
The National Centre for Education Statistics (NCES) analyses employee earnings data biennially, according to education level. Findings indicate that workers with a qualification earn significantly more than those without. Since the mid-1980s, education has played a large part in potential wages, with bachelor's degree holders taking home an average of 66% more than those with only a high school diploma do. While college-educated workers' wages have increased over the past two decades, those with only a high school education have seen decreases in annual salaries in the same time period (nces.ed.gov).
How else will I benefit from studying with Learning Cloud?
- Studying online or distance means you can study where you want and at your own pace.
- Receive career-focused training with practical, hands-on learning.
- All course materials are provided and all digital platforms are interactive, work on any device and designed to be fun.
- Recognition of Prior Learning or Skills Recognition may be available for previous work experience, formal training or qualifications in this field.
