Operations management (OM) is the administration of business practices to create the highest level of efficiency possible within an organization. It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization. Operations management teams attempt to balance costs with revenue to achieve the highest net operating profit possible. Corporate operations management professionals try to balance costs with revenue to maximize net operating profit. Operations management is concerned with converting materials and labor into goods and services as efficiently as possible.
Category of Education
Business and Economic
Georgetown University McDonough School of Business