SOM ASSIGNMENT

SOM Assignment

SOM Assignment

Introduction

This paper intends to discuss the significance of various important concepts related to the operations strategy and the business strategy of Santander. It remains extremely important to make underlying assumptions when creating a strategic operations management report mainly because of the lack of confidential data being available through primary and secondary resources. I have chosen the Santander Company mainly because I believe that significance of operations management within the industry of financial services is way more than the industries of leather and entertainment.

The critical appraisal of issues relating to layout, process type and use of technologies within the Santander will also be conducted. Moreover, an extensive critical appraisal of Santander's exploitation of the value chain and quality will be conducted in order to make the reader aware about the significance of the underlying tools of operations management with respect to the industry Santander is working within. The purpose of this paper is to make the reader aware about the important concepts related to the operations strategy and operations management within the working parameters of Santander.

Discussion

Santander United Kingdom

Santander United Kingdom is assumed to be one of the most important organizations within the field of financial services. The important products of Santander include mortgages and saving products. The business of Santander is related to the banking services as well. The Santander United Kingdom is based over an extensive branch network employing almost 24000 employees catering to 1.6 million customers. In recent years, the company has survived to maintain the range of best buy products for customers. The company is committed to provide innovation and competition to the High Street benefitting the entire customer base (www.santander.co.uk).

The company focuses on the various important aspects of operations management. The ongoing innovation is intended to cater the competition and the challenging conditions. The proper maintenance of underlying track of the business can be traced back to the balance sheet of the business. Moreover, the bank intends to transform its activities in order to enhance the attainment of strategic goals and to provide maximum customer satisfaction by implementing successful operations strategies. Significant environmental factors that are currently driving the bank's strategy and its impact on the bank performance are important from the viewpoint of operational strategy (Robert, 2002 Pp. 200-225).

The transformation of bank refers to the underlying changes within the banking arena by providing various products. The aspects of innovation and quality delivery are considered important by the decision makers of the bank. The importance to quality improvement is evident from the huge investment of bank on Information Technology. Almost £490 million of the planned investment within the innovation and technological aspects clearly reveals the commitment of bank to the provision of continued improvements within the customer services (www.santander.co.uk).

Operational Strategy

The financial strategies of the bank are assumed to be most important ones. The bank intends to excel within the financial services provision of the region. A continued approach is apparently prudent to the lending market of the United ...