Final answer:
Operations management is the management of the production conversion process in a firm, involving planning, organizing, and controlling resources to transform inputs into outputs. It combines strategic and tactical management activities.
Step-by-step explanation:
Operations management refers to the management of the production conversion process in a firm. It involves the planning, organizing, and controlling of resources, such as raw materials, labor, and equipment, to transform inputs into outputs, which are the goods or services the firm wishes to sell. This process includes making decisions about production methods, quality control, inventory management, and scheduling. Operations management combines both strategic and tactical management activities to ensure efficient and effective production processes.