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Operations Management and Strategic Management

Operations Management and Strategic Management

CMA Intermediate - Paper 9 : Operations Management and Strategic Management

ICMAI has introduced this paper Operations Management and Strategic Management at the CMA Intermediate level where you will learn details about Operations Management and Strategic Management. Here you need to be able to identify ways and means to help businesses reduce their costs and how and why product planning works along with how best to manage resources 

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Operations Management and Strategic Management
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Operations Management and Strategic Management
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More about Operations Management and Strategic Management

What is Operations Management & Strategic Management?
  • Operations Management deals with planning, organising and supervising process to maximise profitability 
  • Strategic Management involves outlining and implementing the main goals and objectives of a business. It is a continuous process where you should re-evaluate goals and strategies regularly according to the latest business environment and trends 
Why has ICMAI introduced this paper, Operations Management & Strategic Management, at the CMA Intermediate Level?
  • As a CMA, you need to be able to identify ways and means to help businesses reduce their costs 
  • To help you do this, you need to understand how the business process works as well as its operations 
  • You should also understand how and why product planning works along with how best to manage resources  
  • You should understand the mission, vision and goals of the company to ensure that all decisions taken are in line with the goals laid out 
What are the topics covered in Operations Management & Strategic Management?
  • Under Operations Management, you will learn about operations planning, designing of operations system and control, production planning, productivity and quality management, project management and the economics of maintenance and spares management 
  • Under Strategic Management, you will understand strategic analysis and strategic planning such as SWOT analysis, portfolio analysis, BCG Matrices etc. You will also gain an understanding of the different stages in the strategic formulation process 
What is the best approach to study the Operations Management & Strategic Management paper?
  • The best approach to study this subject is to first understand the concepts and then solve practical questions immediately. This way you will retain the concepts for a longer tenure and understand your footing on the subject 
  • Study Time: As per ICMAI rules and regulation, there should be at least 9 months of time gap from the time of registration to the time of giving exam. The reason behind this is, that a student should do a thorough study of all the concepts. Therefore, it is always recommended to start immediately after registering to the course  
  • Study content:  There are many books which are available in the market as well as various books recommended by ICMAI. However, from the point of view of exam and to conceptually understand the entire syllabus, Study materials given by ICMAI is highly recommended. Cover the ICMAI syllabus in detail and don’t indulge in any selective coverage of syllabus 
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