Managing the behavior of people in 21st century organizations is the subject of nine research papers. Motivating people working remotely is discussed. Also covered is making work in public organizations intrinsically motivating. Understanding and managing misbehavior in organizations is a topic of another research paper. Intercultural communications and strategies for managing the intercultural dimensions of business are treated in a separate research paper. Emotion, trust and mistrust, and organizational politics are covered here as well. The part on Organization Development and Change also has six research papers discussing how change can be most effectively carried out in contemporary organizations.
The part on Information and Knowledge With Mobility and Ethics includes research papers covering knowledge management, communities of inquiry, facilitating mobile and virtual work, the impact of telework, electronic monitoring of person Web use at work, information privacy organizations, multilingual and multicultural issues in global e-commerce, managing intangible capital, and the implications of radio frequency identification technology.
SO WHAT I ASK YOU IS TO DO A 4 PAGE PAPER ON MY PART OF THE WORK SO BASICALLY : Suggested metrics used to measure the process or supply chains performance, and how a changed process may improve them.
I would like to start by saying that operations risks is a risk of loss as a result of inadequate, improper and failed internal corporate processes, employees, human capital systems and external events that impact organizations. Even though, the operations risks are inherent in virtually every organization and company, typically, one speaks about financial services companies where operations risks are used to assess the corporate processes in order to safeguard against systematic corporate failure.
The main functions of production and operation management are the improvement of the productiveness of the company; projecting of the goods and services; organization of the production of the goods and services; the creation of the graphs and terms of the material and resource supply; the wise distribution of tasks, duties and reasonable use of time.
Data and information applicable to HFLI events is already available in most organizations from their internal audit systems. Therefore, modeling and budgeting these future corporate damages because of operations risk can be done rather quickly and accurately. One needs to remember that LFHI evens on the other hand, because they are infrequent, provide the organization with little to no data and thus makes it almost impossible to model the process. In order for a bank to create a certain prediction for such events, it needs to supplement data with the information and data on similar event from other organizations in the industry or outside the same industry. For instance, Global Operations Loss Database (with British Bankers’ association being its supervisor) represents a private-sector institutions collecting data and information on various LFHI events.
Risk management department of an organization that deals with various types of risks (including operations risk) regularly measures the size and scope of a company’s risk exposure. As noted earlier, operations risk is rather hard to measure precisely, especially on a organization-wide basis. There are several methods and theories and measure operations risks of a company with the matrix approach being among the most popular ones. This approach categorizes losses according to the type of loss-causing event and the specific business line in which a given event happened. In this case organizations are able to know precisely where certain events happen and with which regularity, and thus are able to come up with proper solutions applied to different departments/business lines in which events happen most often (King, 180).
After a potential event and actual loss within organization, management is able to analyze and model the occurrence of events and losses that make up operations risks of that organization. In order to model occurrence, organization needs to create databases for monitoring losses and event and to create risk indicators that summarize data from the databases. For instance, one indicator could find correlation between the number of failed transactions in a department over a specific period of time and the frequency of staff turnover in that department or organization.
In addition, the author of this paper will provide a personal definition of what operations management means and why is important to a healthcare organization.
There exists a framework that allows companies to manage operations risks and comprises two principal categories:
1. General corporate principles for creation and maintenance of operations risk management environment (King, 182). For instance, the corporate top management needs to understand that operations risks is a special type of risk which should be overcome with improved internal processes and regular review of existing operations risks strategy. In order to improve the corporate operations risk management strategy risk management needs to make this strategy a part of company’s regular activities and will comprise all levels of employed personnel.
As for the financial institutions which view operations risk as one of the most important risks to be reduced, one needs to understand that these companies are in the business of risk management already, thus they are in need of development of proper risk management systems. The risk management system should comprise the following modules: risk identification, risk magnitude assessment, risk mitigation, capital setting aside for unexpected losses. Usually the financial companies employ existing economic models in earnest to assist them in their tasks. For instance, the creation of various models of financial volatility allowed the companies to better model and predict market risks, a risk caused by assets’ market price fluctuations. There exist various models to assess credit risk of organizations and advise the management on the appropriate action to be taken (Loader, 133).
Teaming in and beyond organizations in the knowledge economy is the focus of five research papers. The section begins with the evolving nature of work teams as they change to meet the requirements of the future. Web-based tools for collaborating with customers to develop new products and services are the subjects of a research paper. Transnational teams in knowledge-intensive organizations are discussed, as is the coordination in global teams and the conflict management within them.