Please consider the following scenario and answer the subsequent questions: In a rapidly changing global bus iness environment, operations management plays a pivotal role in ensuring the efficiency, offoctivencss, and overall success of organizations. Cperations managers are tasked with the responsibil ty of overseeing various aspects of the production process, Including resource allocation, process optimization, quality control, and supply chain management. They navigate the evercvolving landscapo of technology, ervironmental sustainability, and dynarnic market. dynamics. 1. Strateglc Significance: Explain the strategic significance ot operatlons management within an organization. How does it contribute to a companys competitive advantage and overall success? Provide examples of how effective operations management can drive strategic cutcomes. 2. Core Principles: Operations manapement is built upon several core princip is;, inclucing process optimization, resource allccation, and quality control. Elaborate on the importance of these principles within the context of operations management. How do these principles contribute to streamlined operations and enhanced customer satisfaction? Adaptation to Contemporary Challenges: In the present day, aperations management faces an array of contemporary challenges, such as technological Innovations, supply chain disruptions, and sustainaolity concems, How do modern operations managers adapt to these changes? Offer real-world examples of orounizations that have successfully adaptod to conternporary challenges in their operations, 4. Methodologles and Tools: Operations management relles on various methodologles and toois to enhance efficiency and effectiveness. Discuss the key methoolologies, such as Iean production, Six Sigme, Total Quality Mamagement, and Just-in-Time inventory, and explain how each of these frameworks improves operational efficiency and customer satisfaction. Provico examples of companies that have successfully implemented these methodologies. 5. Supply Chain Management: Supply chain management is an integral component of operations management. Describe the key functions and strategies within supply chain management, including procurement, logistics, and demand forecasting. How can organizations enhance supply chaln visibility and responsiveness to withstand unexpected disruptions ilke the COVID-19 pandemic? Provide case studies of companies that have effectively managed their supply chains in challenging circumstances. 6. Ethical Considerations and Sustainability: Ethical considcrations and sustainable practices have gained significance in operations management. Discuss the a ignment between modern operations management principles and etrical and sustainable practices. How are organizations ensuring responsible scurcing, waste reduction, and cco-friendly production methods in line with environmental and social responsibility goals