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Operations Management and Ethics
Operations management (OM): Operations management is defined as the design, operation, and improvement of the systems that create and deliver the firm’s primary products and services. Like marketing and finance, OM is a functional field of business with clear line management responsibilities (Chase, 2006).” OM can be described as the strategies employed by an organization to provide a competitive advantage to maximize on all decisions and processes encountered in business practices. A very strong operations management team ensures that company’s daily activities run effectively and contribute towards maximizing profits. For an effective operations manager it is important to consider that ethical decisions are made during planning, review and implementation stages of a process newly introduced or already in effect. This paper will briefly examine the purposes of operations management as well as analyze an ethics decision made with respect to OM within my organization.
Company Background: I work at TD Canada Trust. TD Canada Trust is the second largest bank in Canada and has affiliation world wide serving over 16 million customers worldwide. TD has over 43,000 employees in Canada making it country’s largest employer. It provides financial services to customers pertaining to their day to day needs as well as borrowing and investments, targeting a variety of clientele. For daily banking needs the company provides a choice of various types of chequeing and saving accounts. Investments range from term deposits to bonds, stocks, mutual funds, and discount brokerage services. Mortgages, car loans, business loans, and line ...