Operations Management

1. Marketing

1.1. Marketing is the department responsible for the relations between the company and its target audience. The marketing mix is a combination of price, promotion, product, and place that is unique to every company.

1.2. OM is linked to Marketing because OM can influence marketing functions such as the marketing mix and advertising, to maximize efficiency.

1.3. For instance, if the marketing department is wasting money on an ad campaign that utilizes postage and mail, OM might decide to switch is to an email campaign to get better returns for less capital.

1.3.1. For instance, if the marketing department is wasting money on an ad campaign that utilizes postage and mail, OM might decide to switch is to an email campaign to get better returns for less capital.

2. Definition

2.1. the administration of business practices to create the highest level of efficiency possible within an organization.

2.2. concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization

2.3. Operations management teams design the method of conversion of inputs (materials, labor, proprietary information, etc.) into outputs (goods, services, value-added products, etc.) that is most beneficial to the organization. (Investopedia)

3. Human Resources Management

3.1. HR is the company department charged with finding, screening, recruiting and training job applicants, as well as administering employee-benefit programs. (Investopedia)

3.2. Operations Management is closely linked to HR, because the human component is a major asset of any company. In a way, HR is a component of OM, because a company's employees can greatly influence the efficiency and operations of a company. However, it is not the only component of OM.

4. Finance

4.1. A division or department that oversees the financial activities of a company. Corporate finance is primarily concerned with maximizing shareholder value through long-term and short-term financial planning and the implementation of various strategies.

4.2. Its link to OM is quite strong: OM's goal is to maximize efficiency, which includes maximizing profits. Finance serves to examine the financial state of a company, and this analysis can reveal areas where the company isn't being efficient.

4.3. For example, if a company has high fixed costs, for example the IT department is using an excess of electricity that is contributing to the electrical bill, it is the job of OM to identify this inefficiency and remedy it. However, finances plays an important role in providing the data for this to occur.