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WHAT ARE OPERATION FUNCTIONS IN OPERATIONS MANAGEMENT ?

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Corporate titles or business titles are given to company and organization officials to show what duties and responsibilities they have in the organization. Such titles are used by publicly and privately held for-profit corporations.

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In addition, many non-profit organizations, educational institutions, partnershipsand sole proprietorships also confer corporate titles. Within the corporate office or corporate center of a company, some companies have a chairman and chief executive officer CEO as the top-ranking executive, while the number two is the president and chief operating officer COO ; other companies have a president and CEO but no official deputy. Typically, senior managers are "higher" than vice presidentsalthough many times a senior officer may also hold a vice president title, such as executive vice president and chief financial officer CFO. The board of directors is technically not part of management itself, although its chairman may be considered part of the corporate office if he or she is an executive chairman.

A corporation often consists of Business Functions Of Operations Management businesses, whose senior executives report directly to the CEO or COO, but depends on the form of the business. If organized as a division then the top manager is often known as an executive vice president EVP. If that business is a subsidiary which has considerably more independence, then the title might be chairman and CEO. In many countries, particularly in Europe and Asia, there is a separate executive board for day-to-day business and supervisory board elected by shareholders for control purposes.

Business Functions Of Operations Management

In these countries, the CEO presides over the executive board and the chairman presides over the supervisory board, and these two roles will always be held by different people. This ensures a distinction between management by the executive board and governance by the supervisory board. This seemingly allows for clear lines of authority. There is a strong parallel here with the Operatons of government, which tends to separate the political cabinet from the management civil service.

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In the United States and other countries that follow a single-board corporate structure, the board of directors elected by the shareholders is often equivalent to the European or Asian supervisory board, while the functions of the executive board may be vested either in the board of directors or in a separate committee, which may be called an operating committee J. State laws in the United States Business Functions Of Operations Management required certain positions to be created within every corporation, such as presidentsecretary and treasurer.

Today, the approach under the Model Business Corporation Actwhich is employed in many states, is to grant companies discretion in determining which titles to have, with the only mandated organ being the board of directors. Some states that do not employ the MBCA continue to require that certain offices be established.

Business Functions Of Operations Management

Under the law of Delawarewhere most large US corporations are established, stock certificates must be signed by two officers with titles specified by law e.]

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