discuss the significance and scope of operations research in modern management
Answers
Significance of operations research in modern management is that it provides higher productivity. Scope of operations research is to structure and plan things.
Explanation:
Operations research refers to analytical approach that helps in problem-solving and making organizational decisions in the management.
Significance of operations research in modern management is as follows:
i. It helps in making decisions and significantly induce the modern management to achieve the goal of higher productivity.
ii. It helps to get optimum results in the modern management and also leads to better departmental coordination.
Scope of operations research in modern management is as follows:
i. It has the ability to solve business problems in the modern management obtain an optimal solution from the previous solutions.
ii. It has a scope to structure and plan things in a way that make efficient use of the resources by using mathematics and analytics.
The scope of operations research in modern management is quite vast.
Explanation:
- Operational research aims to reduce business problems and defends the expected behavior and goals. It empowers decision making in areas that have scarce resources.
- It helps to tackle the problems through the Healthcare Management, Marketing & Revenue Management, Production / Manufacturing Management.
- Purchasing / Procurement / Logistics / Supply Chain Management, Military Defence, Energy / Environment/ Agriculture, and others.
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- brainly.in/question/15320365 answered by Brainly User.