A great product and a lot of cash are not enough for success. Along with having strong finance and marketing plans, a business idea needs to be "operationalized." Look at some of the most admired companies: Amazon, Southwest Airlines, Ritz-Carlton, Toyota, FedEx. These operational giants stand out because of how they create value.
We approach operations by examining the impact of management decisions on the day-to-day running of a company, as well as the reverse: how the daily workings affect management decisions. Through this two-way lens, you will learn to successfully manage an organization's resources—its human capital, plants and facilities, processes, machinery and technology, raw materials, and other "inputs"—in order to maximize the four value creators: time, price, quality, and variety. In learning to combine concepts, models, and data to develop better systems, you will be equipped to make better operations decisions.