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Or/Ms Participation

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Submitted By hazelsister
Words 272
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1. What is OR/MS and its practical applications based from the video clips presented?
Operations Research/Management Science is the application of various methods and/or models that are crucial in solving problems and developing decision-making capabilities.
Its practical applications based from the video clips presented are the following: (a) Services – police dispatching, design of the local transit system, the food you buy at the grocery, the books at the bookstore, the videos you rent, (b) Traveling by the car or the bus – determining the best routes to travel, (c) Flying in an airplane – check-in time at the airport, type of aircraft to fly in, crew selected to fly it, when you land, when you take off, which gate you arrive at, how quickly to get the luggage, (d) Which school to attend, (e) Which career to aspire, (f) Time management, and (g) Choosing an alternative.

2. What is the importance of OR/MS to you as a future business executive? The importance of OR/MS to me as a future business executive is that it is my foundation in realizing the objectives and enabling to bear up with the changing environment of the business that I will work at. To maximize profits and minimize costs are just few of the goals of a company to name. In order to realize these goals, assessing, projecting, and analyzing the environment of the business such as the increasing competition, changing markets, changing customers’ requirements, increasing uncertainty, etc. will considerably be much of help in making effective decisions to realize these goals and to avoid pitfalls, if cannot be avoided,

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