Operational Efficiency: Midas Case Essays Examples

Type of paper: Essay

Topic: Management, Efficiency, Innovation, Time Management, Shop, Organization, Customers, Services

Pages: 3

Words: 825

Published: 2021/01/09

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Operational Efficiency

In order to make the accurate decision, the Midas management needs to do thorough evaluation of the new service. Managers need to look at it in terms of its impact in production cost. The service requires resources necessary for automation, workforce, and financial commitment. All these factors increase production cost (Mark & Gregory, 2013). The management may consider effective utilization of automation technology with an aim of mitigating cost implication. The technology may replace manual work in the organization hence increasing efficiency. The aspect would also improve quality of end product and service by eliminating unnecessary errors associated with manual operation. Use of technology would also help the organization to retain knowledge as well as prevent over exhaustion of Midas’ financial and human resources.
Employee motivation is a crucial element that contributes to operational efficiency. Any impact on the motivational factor affects quality of output (Ayinla, 2007). Midas’ management should consider utilizing available experience in company’s human resource. The organization should provide an opportunity for employees to gain experience hence improving motivation as well as output quality. Such opportunities tend to expose employees to various challenges hence enabling them to understand the technical system within the organization (Kortmann, et al 2014). Consequently, they acquire career satisfaction. In addition, the company realizes competitive advantage over the market competition.
It is essential to consider the crucial role shop owners play as key stakeholders in Midas’ supply chain. They contribute immensely towards designing and managing information flow in the chain. Note that information management affects operational efficiency in terms of speed in service delivery (Mark & Gregory, 2013). To realize effective management of information along supply chain, the management needs to sustain good relationship with suppliers. The management should ensure that shop owners are capable of meeting on-time delivery of services to customers. Competitiveness of supply chain has significant impact on Midas’ operational efficiency. Customers deserve a better service through on-time delivery thus improving efficiency within the organization.
The Midas’ management should evaluate the performance of shop owners in pursuit of improving operational efficiency. Note that these are individuals in direct contact with clients and the way they handle them has significant impact. The management should therefore mandate the shop owners with the responsibility of providing feedback concerning customer needs (Mark & Gregory, 2013). These individuals are in a better position to access this vital information hence should contribute towards customer satisfaction. The management should foster mutual relationship among all players along supply chain for facilitating profit maximization (Kortmann, et al 2014). Shop owners should have the capacity to provide proper link between customers and Midas. With the help of Midas’ management, shop owners may help the organization serve the customers by responding to their demands and providing constant update to top leaders.

References

Ayinla Alarape, A. (2007). Entrepreneurship programs, operational efficiency and growth of small businesses. Journal of enterprising communities: People and Places in the global economy, 1(3), 222-239.
Kortmann, S., Gelhard, C., Zimmermann, C., & Piller, F. T. (2014). Linking strategic flexibility and operational efficiency: The mediating role of ambidextrous operational capabilities. Journal of Operations Management, 32(7), 475-490.
Mark. A. V & Gregory. P. W (2013). Gaining Competitive Advantage through Operations: Achieving Competitive Advantage. Journal of Operations Management, Bridge Point Education; 33 – 60.

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WePapers. (2021, January, 09) Operational Efficiency: Midas Case Essays Examples. Retrieved May 11, 2021, from https://www.wepapers.com/samples/operational-efficiency-midas-case-essays-examples/
"Operational Efficiency: Midas Case Essays Examples." WePapers, 09 Jan. 2021, https://www.wepapers.com/samples/operational-efficiency-midas-case-essays-examples/. Accessed 11 May 2021.
WePapers. 2021. Operational Efficiency: Midas Case Essays Examples., viewed May 11 2021, <https://www.wepapers.com/samples/operational-efficiency-midas-case-essays-examples/>
WePapers. Operational Efficiency: Midas Case Essays Examples. [Internet]. January 2021. [Accessed May 11, 2021]. Available from: https://www.wepapers.com/samples/operational-efficiency-midas-case-essays-examples/
"Operational Efficiency: Midas Case Essays Examples." WePapers, Jan 09, 2021. Accessed May 11, 2021. https://www.wepapers.com/samples/operational-efficiency-midas-case-essays-examples/
WePapers. 2021. "Operational Efficiency: Midas Case Essays Examples." Free Essay Examples - WePapers.com. Retrieved May 11, 2021. (https://www.wepapers.com/samples/operational-efficiency-midas-case-essays-examples/).
"Operational Efficiency: Midas Case Essays Examples," Free Essay Examples - WePapers.com, 09-Jan-2021. [Online]. Available: https://www.wepapers.com/samples/operational-efficiency-midas-case-essays-examples/. [Accessed: 11-May-2021].
Operational Efficiency: Midas Case Essays Examples. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/operational-efficiency-midas-case-essays-examples/. Published Jan 09, 2021. Accessed May 11, 2021.
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