INNOVATION MANAGEMENT 2

Operation management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods or services

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If the organization makes improper operations decisions, it will be able to produce affordable, functional, and attractive output that customers will purchase at a price that will earn profits for the company.

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Operations management leads to low quality management, which enables product and service quality enhancement.

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Along with quality management taking care of product quality, it will also ensure for customer needs to be met. The system will provide a methodology to utilize in order to create a desired consumer product.

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With increased product quality and consumer satisfaction, this will give the company a positive reputation within the industry. Overall, this will lead to a revenue increase and enable the company to continue to grow.

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A TQM is a method of assessing the differences in performance between a business' information systems or software applications to determine whether business requirements are being met and, if not, what steps should be taken to ensure they are met successfully.

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Gap analysis is defined as a set of international standards on quality management and quality assurance developed to help companies effectively document the quality system elements needed to maintain an efficient quality system.

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Intellectual property refers to creations of the mind: invention, literary, artistic and musical works, and symbols, images and designs used in commerce.

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Copyrights is used as a marketing tool to enable customers in recognizing the product of a particular trader.

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The symbol ® denotes that the trademark is registered and protected under trademark law. The sign ™ merely gives an indication that the trademark is used by the company.

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