On approaches to OR modelling |
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Authors: | R Bandyopadhyay |
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Institution: | National Institute of Bank Management, Bombay India |
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Abstract: | The paper examines the various relationships between theory and practice of OR Models in developed and developing economies. Relationships between theory and practice are classified into three sets: (i) during model construction stage, (ii) during the decision-making stage and (iii) in the implementation stage. Various case studies from U.K. and India are analysed to get an insight into these relationships. Various factors responsible for divergence of practice from theory are critically examined and drawing from the lessons of the case studies, ways and means of making models which are implementable in practice are suggested. Environments, the nature of the problems and objectives vary between developed and developing economies. However, in spite of these variations the basic nature of the relationships and the scientific method of problem solving are the same in both. |
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