Introduction to process management

Watch the video and then summarise what you have learned.

Operations and process management is all about how a business produces goods and services. Processes are essentially a part of operations.

What is operations management? Every business is managed through three major functions, finance, marketing, and operations management. The vice presidents of each of these functions report directly to the president or CEO of the company.

Other business functions, such as accounting, purchasing, human resources, and engineering, support these three major functions. Finance is the function responsible for managing cash flow, current assets, and capital investments. Marketing is responsible for sales, generating customer demand, and understanding customers’ wants and needs. Most of us have some idea of what finance and marketing are about. But what does operations management do?