Certificate of Operations Management

Unit 1 – The Economic Environment

• The world of economics
• Scarcity
• Economic resources
• Opportunity costs
• Goods
• Definitions
• Economic systems
• Public (Command Economic System).
• Private (Market Economic System)
• Traditional economic system
• Economic ownership
• Performance criteria for an economy
• Other economic performance indicators
• Basic economic principles
• Law of demand
• Law of Substitution
• Law of diminishing return
• Law of diminished marginal utility
• Competition
• Sustainability
• Total Quality Management
• Strategic Planning
• Creating a strategic plan
• SWAT and SMART analysis
• The World Trade Organisation (WTO)
• European Economic Union
• The Role of the ECB (European Central Bank)
• APEC

Unit 2 – External Influences

• Market types
• Monopoly and monopolistic competition
• Oligopoly
• Perfect competition
• External Influences
• International markets and trade-able commodities
• Globalisation trends
• Supply and demand
• Market forces
• Supply and demand
• Market forces
• Elasticity
• Economics of scale
• Cost structures
• Liquidity

Unit 3 – Information Management

• Scope and nature of office work
• Functions of an office
• Common office functions (reception, clerical, secretarial, information processing)
• Common jobs within an office
• Departments within an organisation
• Office processes
• Flow charts
• Data knowledge, storage and management
• Filing systems
• Classifying information
• Hard copy information
• Filing procedures
• Active and inactive records
• Computer databases
• Designing a filing system
• Data protection
• Financial records
• Books needed in business
• Different ways to approach bookkeeping
• Steps in the bookkeeping process
• Developing a record keeping and accounting system
• Flow of information
• Financial reports
• Ledgers and journals
• Source documents
• Cash transactions
• Credit transactions
• Returns and allowances
• Statement of account
• Other business documents
• Use of business documents
• Bookkeeping abbreviations
• The cash book
• Credit sales and credit purchases journal
• The general journal
• The ledger
• A trial balance
• Bank reconciliation
• Petty cash

Unit 4 – Strategic Planning

• Strategic planning
• Documenting the strategy
• Operational planning
• Documenting an operational plan
• Key components of a business plan
• SWOT analysis
• A planning procedure
• Decisions
• What to plan for
• Finance – a budget
• Structure for a Financial plan
• Developing a budget
• Structure for a marketing plan
• Plan drawing

Unit 5 – Implementing Strategies 

• Implementing strategy
• Bench marking
• Reviewing strategy and strategy management
• Environmental audits
• Key elements of EIA
• Steps in an environmental assessment process
• Study design
• Baseline studies
• Predicting impacts
• Mitigation measures
• Flora and fauna assessment
• Open space management plan
• Rehabilitation plan

Unit 6 – Developing a Business Plan

• Business planning
• Case study: nursery development plan
• Sensitivity analysis
• PBL project to formulate criteria required for implementation of a business proposal to develop a business plan.

Unit 7 – Business Control Systems 

• Financial statements
• The balance sheet
• Classification in the balance sheet
• Working capital
• Profit and loss statement
• Link between profit and balance sheet
• Depreciation of assets
• Analysis and interpretation of accounting reports
• Analytical ratios
• Ratio yardsticks
• Types of analytical ratios
• Profitability ratios
• Operating efficiency ratios
• Efficiency ratios and profitability
• Liquidity ratios
• Liquidity analysis and cash budgeting
• Financial stability ratios
• Gearing rate of return on investment
• Limitations to ratio analysis
• Risk analysis
• Contingency plan
• Business systems
• Quality systems
• Innovation management
• PERT (Program evaluation and review)
• CPA (Critical path analysis)
• GNATT Charts Fastest and slowest completion times
• Business expansion and sources of finance
• Overdraft facility
• Equity credit
• Record keeping

Unit 8 – Evaluating Marketing 

• Importance or marketing a business
• Market research
• The marketing mix
• Marketing planning
• Market Analysis
• Strategic Response Through Marketing Mix
• Where Do the Four P’s Fit into Marketing Planning?
• Military Inspired Strategies for Marketing and Sales
• Services marketing
• Customer service
• Understanding Transactional versus Relationship Marketing
• Buyer Behaviour
• Buying/Selling and the Decision Making Process
• Buying, selling and decision making
• Different heuristics
• Decision making process ( 5 steps)
• The Customer’s Point of View
• Customer satisfaction and goodwill

Unit 9 – Marketing Strategies

• Target markets and market segmentation
• Targeting strategies
• Defining your target market
• Determining market segmentation
• Projecting the future
• Positioning
• Case study – Landscape Contractor
• The business portfolio