Salma Ahmed
English Lit. GCSE Student
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In our increasingly complex world, the tasks of the management decision-makers are becoming more challenging.
- Words:
- 1112
- Submitted:
- Mon Dec 22 2003
Have a little read: ... In our increasingly complex world, the tasks of the management decision-makers are becoming more challenging. However, a "good" decision-making only starts with a consecutive-purposeful strategic thinking that encompasses many disciplines of study. Therefore Operational Research (OR) becomes essential. Management Science (MS) known also as Operations Research (OR) and Decision Science (DS) is the science of making decisions. It often takes an analytical view of a decision before making a decision. The OR analyst always performs the following sequence with some possible feedback loops between its steps: 1) Understanding the Problem: The operational researchers must identify the problem. It is critical for them to clearly understand the problem, data is collected, details of the problems are identified, and objectives are set, constraints involved are determined. 2) Constructing an Analytical Model: This step involves the "translation" of the problem into precise mathematical language in order to make calculations and comparison of the
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