Operations Research – Review and Discussion Questions
- What do you understand by ‘concept of operations research’? Describe its development in details.
- Describe the scope of operations research and its significance in business firms.
- Describe the various phases of OR. How is it helpful in decision making?
- What are the applications of operations research in an organisation?
- Give a detailed explanation of the different steps that are used for solving OR problems. State your answer with the help of an example from your preferred functional area.
- State the role of OR in current business scenario.Explain with the help of examples.
- What are the different features of OR? Explain.
- Describe few methods of OR. Also highlight its meaning, scope and significance.
- What do you understand by Operations Research? Answer in your own words with the explanation of its different tools.
- In case of scientific decision-making in business sector, explain the role and significance of OR.
- Analyse and discuss given statementsand also provide adequate examples to validate your answer that how OR helps in decision making.
“Operations Research is a great help to organisations in making decisions. It is done by providing necessary quantitative information andscientific method of analysisis the foundation”.
- Give a detailed explanation of OR’s techniques and its utilisation in India.State 3 techniques which are extensively used in India and why is it so?
- Comment on the statement.
“When applied with Information Technology,OR can be of use.”
- Explain in details about the methodology and the scope in the utilisation of OR.
- “OR is an excellent technique which is very useful in solving the clash of various functions in manufacturing unit like Finance, Personnel, Marketing and Production functions.”
Share your views with theinclusion of examples.
- Define model. What are the different types of models?
- Discuss the pitfalls and benefits of models.
- What is an OR model? Explain this model with examples stating the utilisation of it in industries.
- Give a detailed explanation of OR and its scope in business.
- According to the modern management system, state the scope and significance of operations research.
- Write an essay on the utilisation of models used for decision making. You should include these points in your answer.
- Model building requirement
- Different model typesused as per situation
- Steps in the development of a model
- Selling up criteria to evaluatevarious alternatives
- Role of different variables
- Characterise these process types.
- Queuing Line
- Allocation
- Inventory
- Competitive
- Discuss these statements.
- OR is the art of strategic winning without fighting in the actual war zone.
- OR is the art of discovering answers where the situation is adverse.
- OR is nothing but quantitative analysis of an issue.
- OR advocates a system for quantitative analysis and decision-making.
- Personality is the replacement factor in OR management.
- What should be the OR model in these cases?
- Storing crackers before Diwali.
- A shop owner is deciding to place an order for uniforms before new school session starts.
- Design modifications of a new phone which will be launched next year.
- Statisticallypredictingthe sale of ice cream in next summer.
- “Personalityis the replacement factor in OR management.” Describe.
- What are the various models of OR? Describe in detail.
- State the equations where OR techniques are applied.
- State the phases of problem solution with the utilisation of Operation Research.
29.How is Operation Research important indecision-making?
- What are the limitations of Operations Research techniques?
- Explain the main characteristic features of operations research.
- What are the various steps involved in solving problems related to operations research? Illustrate with examples.
- Find the similarities and dissimilarities in between scientific researchand methodology of operations research.
- Discuss 7 operations research applications in business
- What are the phases of operations research?
- Describe the limitation and scope of OR.
- What are the applications of operations research?
- How OR’s scope and significance have helped in Indian Economy’s development?
- Explain the role of OR in the present business era.
40.Discuss the methods used in OR.
- What do you understand by Methodology (Processes) of Operation Research?
- Explain Limitation of Operation Research.
- What is basic solution in linear programming?
- Describe various tools of Operation Research.
- Do you agree that OR is just a tool for quantitative analysis of a problem?Comment.
- What are Operations Research’s various characteristic features? State your point of view with proper examples.
- Describe various ORtools.
- What are the various operations researchtechniques?
- State the situations where OR is applicable.
- How is operations research techniqueshelping in decision making process? Why is this help valuable? Explain with examples.
- How operations research is beneficial in decision making?
- What are the different characteristics of OR?
- State various limitations of operations research.
Links of Previous Main Topic:-
- Introduction and types of dividend
- Concept of cost of capital
- Capitalization meaning
- Concepts of working capital
- Concept of capital expenditure
- Learning objectives and chapter outline
- Important features of operation research
- Types of operation research models
- Methodology of operation research
- Tools of operation research
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