In todays business world how would it effect if the operations are not given that importance as other departments. What action should be taken?

The operations department is critical, without them, no-one has a job, and no organization exists. In other words, operations "produces" the money to pay the other departments.

Operations are the heart of business , if operations department is strong enough it will push business activities to be faster ,easier with less cost and increase the final output efficiency . Investing in such department is always useful specially in long term investments and big projects .