Management Science and Operations Research Both Involve

question 27

Multiple Choice

Management science and operations research both involve

• A)qualitative managerial skills.
• B)quantitative approaches to decision making.
• C)operational management skills.
• D)scientific research as opposed to applications.

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Definitions:

Product Differentiation

The approach of making a product or service stand out from the competition to enhance its appeal to a particular target audience.

Prestige

The respect and admiration that something or someone receives based on a perception of success or quality.

Specialty

A product or service that is distinguished by its unique characteristics, catering to a specific market niche.

Convenience

The ease and speed with which a product or service can be obtained or used, often a critical factor in consumer decision-making.