The field of operations management allows businesses to think about how they might allocate effort to achieve what economists call an efficient frontier. For a set of mutually exclusive business functions (put simply, functions that an employee cannot accomplish simultaneously), an efficient frontier is the allocation of work to each of those functions that is predicted to maximize return.
Of course, businesses can still operate without landing on an efficient frontier, and no business can claim that it actually achieves perfect efficiency. This is because human projections about any complex system, such as business behaviors and their outcomes, are never completely accurate. However, to approach perfect competition with other businesses, learning about operations management and implementing certain principles can reduce unnecessary friction, or inefficiency.
Operations management also provides frameworks for extracting useful metrics about individuals' work performance in order to give constructive feedback.