Operations Research – Review and Discussion Questions

1. What do you understand by ‘concept of operations research’? Describe its development in details.
2. Describe the scope of operations research and its significance in business firms.
3. Describe the various phases of OR. How is it helpful in decision making?
4. What are the applications of operations research in an organisation?
5. 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.
6. State the role of OR in current business scenario.Explain with the help of examples.
7. What are the different features of OR? Explain.
8. Describe few methods of OR. Also highlight its meaning, scope and significance.
9. What do you understand by Operations Research? Answer in your own words with the explanation of its different tools.
10. In case of scientific decision-making in business sector, explain the role and significance of OR.
11. 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”.

12. 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?
13. Comment on the statement.

“When applied with Information Technology,OR can be of use.”

14. Explain in details about the methodology and the scope in the utilisation of OR.
15. “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.

16. Define model. What are the different types of models?
17. Discuss the pitfalls and benefits of models.
18. What is an OR model? Explain this model with examples stating the utilisation of it in industries.
19. Give a detailed explanation of OR and its scope in business.
20. According to the modern management system, state the scope and significance of operations research.
21. 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

22. Characterise these process types.

• Queuing Line
• Allocation
• Inventory
• Competitive

23. 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.

24. 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.

25. “Personalityis the replacement factor in OR management.” Describe.
26. What are the various models of OR? Describe in detail.
27. State the equations where OR techniques are applied.
28. State the phases of problem solution with the utilisation of Operation Research.

29.How is Operation Research important indecision-making?

30. What are the limitations of Operations Research techniques?
31. Explain the main characteristic features of operations research.
32. What are the various steps involved in solving problems related to operations research? Illustrate with examples.
33. Find the similarities and dissimilarities in between scientific researchand methodology of operations research.
34. Discuss 7 operations research applications in business
35. What are the phases of operations research?
36. Describe the limitation and scope of OR.
37. What are the applications of operations research?
38. How OR’s scope and significance have helped in Indian Economy’s development?
39. Explain the role of OR in the present business era.

40.Discuss the  methods used in OR.

41. What do you understand by Methodology (Processes) of Operation Research?
42. Explain Limitation of Operation Research.
43. What is basic solution in linear programming?
44. Describe various tools of Operation Research.
45. Do you agree that OR is just a tool for quantitative analysis of a problem?Comment.
46. What are Operations Research’s various characteristic features? State your point of view with proper examples.
47. Describe various ORtools.
48. What are the various operations researchtechniques?
49. State the situations where OR is applicable.
50. How is operations research techniqueshelping in decision making process? Why is this help valuable? Explain with examples.
51. How operations research is beneficial in decision making?
52. What are the different characteristics of OR?
53. 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

Links of Next Finance Topics:-

• Linear programming learning objectives and outline of chapter
• Introduction learning objectives
• Duality in linear programming
• Learning objectives
• Learning objectives and chapter outline in assignment model

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