Write a 4 page essay on Industrial Business Management.Download file to see previous pages... Not a cure –all, it has definite limitations- just as it has great possibilities and excellent record of

Write a 4 page essay on Industrial Business Management.

Not a cure –all, it has definite limitations- just as it has great possibilities and excellent record of accomplishments. Operations research broadens and formalizes the basic principles of scientific management and uses the methods long applied to problems in physical science. When a business man faced with a marketing problem that involves variables employs algebra to calculate the best time to sell his product, he is using the operations research approach. Instead of studying insects, or atoms, or heart diseases, like most sciences, operations research studies men and machines in action. And it employs the talents of a team of scientists, rather than man. Operations research teams include physicist, political scientist, mathematician, economists, engineers, psychologists, and on down the line of practically every science- physical, biological, social or human. Faced with a problem, an operations research team gathers every piece of information which bears on the situation. These dates are translated into mathematical terms by using the tools of algebra and calculus, differential equations, geometry, statistics, and symbolic logic, among others. What is appalling to layman, however makes good sense to the operations research specialist. ...

Operations research does not have to include mathematics however, it can be simple too. Operations research is therefore, is an applied science utilizing all known scientific techniques as tools in solving a specific problem. It is likely however that the operations research should not be classed as a branch of engineering. It is an organized activity with more or less defined methodology of attacking new problems and finding definite solution. The operations research technique is most useful in military operations than in non – military operations. The most important single mathematical tool of operations research is probability and statistical theory. The data upon which the research is based will come, for the most part, from statistical studies of operations. Statistical analysis is part of the observational aspect of operations research. The operations research is successfully practiced in military operations One of the classical example is that of depth setting of a ‘depth charge’ (a kind of bomb used for underwater explosion at pre – specified depths) to be dropped by an aircraft against submarines. Initially, the attacks were unsuccessful as the submarines were reported sunk. Using available data and simple analysis it became clear that if the depth setting was reduced and the pilots were instructed not to drop the depth charge if the submarines had already submerged for more than half a minute, one would expect the average number of submarine sunk for a given number of attacks by more than two times. Thus there was no need to develop and influence fuze to improve the effectiveness of depth charge. This recommendation was accepted and implemented.