Final answer:
It is true that operations management is a central core function of every company, crucial for achieving maximum efficiency and transforming materials and labor into goods and services. Focusing on core competencies can lead to competitive advantages and is a key part of operations management's role in driving business success.
Step-by-step explanation:
The statement that operations management is the central core function of every company is true. Operations management is critical to any organization as it involves the administration of business practices to create the highest level of efficiency possible within an organization. It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization.
Operations management teams attempt to balance costs with revenue to achieve the highest net operating profit possible. This management area is essential because it contributes significantly to the service and product quality that consumers associate with a business. When a business focuses on its core competency, it leverages its strengths to provide better value to the customer, which can lead to a competitive advantage and greater success compared to businesses that diversify too much.
Core competencies often become a center of operations that drive the business forward, hence contributing heavily to operations management being considered a core function across diverse industries.