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What is Operations Management?1.Operations management is one of the three essentialfunctions of an organization. Management theoristsidentify three essential functions of any organization.-Marketing-Production/Operations-Finance/Accounting2.Students of operations management want tounderstand how goods and services are produced.Studying operations managers gives students insightinto how goods and services are produced3.Students of operations management want tounderstand what operations managers do.4.Operations management is a major contributor toprofitability. Operations management is an important,powerful tool because operations costs account for alarge amount of most businesses’ costs.