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61-544: The Chicago Business College (founded as the Gondering and Virden Business College in 1888) was a for-profit business school located at 67 Wabash Avenue in downtown Chicago , Illinois . It was run by Frederick B. Virden, who founded or purchased several such schools in subsequent years. 41°53′3.0″N 87°37′35.4″W  /  41.884167°N 87.626500°W  / 41.884167; -87.626500 This article about an Illinois institution of higher education

122-480: A bachelor's degree is tuition-free at public intuitions in several countries: Austria , Cyprus , Czech Republic , Denmark , Estonia , Finland , Germany , Greece , Malta , Montenegro , Norway , Poland , Scotland , Slovakia , Slovenia , Sweden , Turkey . In the German education system , most universities do not charge tuition, except for some executive MBA programs. French tuition fees are capped based on

183-505: A community colleges, charge $ 3,730 (€3,154) on average for in-state students, but these institutions usually do not offer Bachelors or MBA degrees. Private institutions in the United States all charge tuition, often considerably more than their public counterparts. Operations research Operations research ( British English : operational research ) (U.S. Air Force Specialty Code : Operations Analysis), often shortened to

244-681: A field widely used in industries ranging from petrochemicals to airlines, finance, logistics, and government, moving to a focus on the development of mathematical models that can be used to analyse and optimize sometimes complex systems, and has become an area of active academic and industrial research. In the 17th century, mathematicians Blaise Pascal and Christiaan Huygens solved problems involving sometimes complex decisions ( problem of points ) by using game-theoretic ideas and expected values ; others, such as Pierre de Fermat and Jacob Bernoulli , solved these types of problems using combinatorial reasoning instead. Charles Babbage 's research into

305-420: A full academic year's work, a bachelor's degree typically requires 180–240 credits and a master's degree 90–120 credits. In France, those levels of study include various "parcours" or paths based on UE ( unités d'enseignement or modules), each worth a defined number of ECTS credits. Grande école business schools are elite academic institutions that admit students through an extremely competitive process, and

366-468: A long way from the target it had time to alter course under water so the chances of it being within the 20-foot kill zone of the charges was small. It was more efficient to attack those submarines close to the surface when the targets' locations were better known than to attempt their destruction at greater depths when their positions could only be guessed. Before the change of settings from 100 to 25 feet, 1% of submerged U-boats were sunk and 14% damaged. After

427-574: A new technique specific to the problem at hand (and, afterwards, to that type of problem). The major sub-disciplines (but not limited to) in modern operational research, as identified by the journal Operations Research and The Journal of the Operational Research Society are: In the decades after the two world wars, the tools of operations research were more widely applied to problems in business, industry, and society. Since that time, operational research has expanded into

488-541: A premium rate for MBAs. All private and autonomous institutions in Europe charge tuition. In the United States, most public college and universities charge tuition. According to the CollegeBoard, the average cost for an out-of-state, or international student, to attend a public four year university in 2020 was $ 38,330 (€32,409), while the average in-state cost was $ 21,950 (€18,559). Two year public universities, such as

549-611: A smooth paint finish increased airspeed by reducing skin friction. On land, the operational research sections of the Army Operational Research Group (AORG) of the Ministry of Supply (MoS) were landed in Normandy in 1944 , and they followed British forces in the advance across Europe. They analyzed, among other topics, the effectiveness of artillery, aerial bombing and anti-tank shooting. In 1947, under

610-439: A survey carried out by RAF Bomber Command . For the survey, Bomber Command inspected all bombers returning from bombing raids over Germany over a particular period. All damage inflicted by German air defenses was noted and the recommendation was given that armor be added in the most heavily damaged areas. This recommendation was not adopted because the fact that the aircraft were able to return with these areas damaged indicated

671-407: Is a stub . You can help Misplaced Pages by expanding it . Business school There are several forms of business schools, including a school of business, business administration, and management. Andreas Kaplan classifies business schools along four corners: The first business schools appeared in Europe in the eighteenth century and multiplied from the beginning of the nineteenth century. In

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732-447: Is an umbrella organization for operational research societies worldwide, representing approximately 50 national societies including those in the US, UK , France, Germany, Italy , Canada, Australia, New Zealand, Philippines, India, Japan and South Africa. For the institutionalization of Operations Research, the foundation of IFORS in 1960 was of decisive importance, which stimulated

793-578: Is concerned with developing and applying models and concepts that may prove useful in helping to illuminate management issues and solve managerial problems, as well as designing and developing new and better models of organizational excellence. Some of the fields that have considerable overlap with Operations Research and Management Science include: Applications are abundant such as in airlines, manufacturing companies, service organizations , military branches, and government. The range of problems and issues to which it has contributed insights and solutions

854-438: Is often concerned with determining the extreme values of some real-world objective: the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost). Originating in military efforts before World War II , its techniques have grown to concern problems in a variety of industries. Operations research (OR) encompasses the development and the use of a wide range of problem-solving techniques and methods applied in

915-536: Is presented about a business firm's products, markets, competition, financial structure, sales volumes, management, employees and other factors influencing the firm's success. The length of a business case study may range from two or three pages to 30 pages, or more. Students are expected to scrutinize the case study and prepare to discuss strategies and tactics that the firm should employ in the future. Three different methods have been used in business case teaching: When Harvard Business School started operating in 1908,

976-502: Is the Tepper School of Business at Carnegie Mellon University . The goal is to provide students a set of tools that will prepare them to tackle and solve problems. Another important approach used in business school is the use of business games that are used in different disciplines such as business, economics, management, etc. Some colleges are blending many of these approaches throughout their degree programs, and even blending

1037-528: Is vast. It includes: Management is also concerned with so-called soft-operational analysis which concerns methods for strategic planning , strategic decision support , problem structuring methods . In dealing with these sorts of challenges, mathematical modeling and simulation may not be appropriate or may not suffice. Therefore, during the past 30 years , a number of non-quantified modeling methods have been developed. These include: The International Federation of Operational Research Societies (IFORS)

1098-639: The British Army . Patrick Blackett worked for several different organizations during the war. Early in the war while working for the Royal Aircraft Establishment (RAE) he set up a team known as the "Circus" which helped to reduce the number of anti-aircraft artillery rounds needed to shoot down an enemy aircraft from an average of over 20,000 at the start of the Battle of Britain to 4,000 in 1941. In 1941, Blackett moved from

1159-634: The Kammhuber Line , it was realized by the British that if the RAF bombers were to fly in a bomber stream they could overwhelm the night fighters who flew in individual cells directed to their targets by ground controllers. It was then a matter of calculating the statistical loss from collisions against the statistical loss from night fighters to calculate how close the bombers should fly to minimize RAF losses. The "exchange rate" ratio of output to input

1220-579: The initialism OR , is a discipline that deals with the development and application of analytical methods to improve decision-making. The term management science is occasionally used as a synonym. Employing techniques from other mathematical sciences, such as modeling , statistics , and optimization , operations research arrives at optimal or near-optimal solutions to decision-making problems. Because of its emphasis on practical applications, operations research has overlapped with many other disciplines, notably industrial engineering . Operations research

1281-625: The 1960s, ORSA reached 8000 members. Consulting companies also founded OR groups. In 1953, Abraham Charnes and William Cooper published the first textbook on Linear Programming. In the 1950s and 1960s, chairs of operations research were established in the U.S. and United Kingdom (from 1964 in Lancaster) in the management faculties of universities. Further influences from the U.S. on the development of operations research in Western Europe can be traced here. The authoritative OR textbooks from

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1342-507: The CC-ORS indicated that on average if the trigger depth of aerial-delivered depth charges were changed from 100 to 25 feet, the kill ratios would go up. The reason was that if a U-boat saw an aircraft only shortly before it arrived over the target then at 100 feet the charges would do no damage (because the U-boat wouldn't have had time to descend as far as 100 feet), and if it saw the aircraft

1403-683: The NATO military command structure , the transfer of NATO headquarters from France to Belgium led to the institutionalization of OR in Belgium, where Jacques Drèze founded CORE, the Center for Operations Research and Econometrics at the Catholic University of Leuven in 1966. With the development of computers over the next three decades, Operations Research can now solve problems with hundreds of thousands of variables and constraints. Moreover,

1464-511: The PGE ( Programme Grande École ) ends with the degree of Master in Management (MiM). Some business schools structure their teaching around the use of case studies (i.e. the case method ). Case studies have been used in graduate and undergraduate business education for nearly one hundred years. Business cases are historical descriptions of actual business situations. Typically, information

1525-611: The RAE to the Navy, after first working with RAF Coastal Command , in 1941 and then early in 1942 to the Admiralty . Blackett's team at Coastal Command's Operational Research Section (CC-ORS) included two future Nobel prize winners and many other people who went on to be pre-eminent in their fields. They undertook a number of crucial analyses that aided the war effort. Britain introduced the convoy system to reduce shipping losses, but while

1586-787: The U.S. were published in Germany in German language and in France in French (but not in Italian ), such as the book by George Dantzig "Linear Programming"(1963) and the book by C. West Churchman et al. "Introduction to Operations Research"(1957). The latter was also published in Spanish in 1973, opening at the same time Latin American readers to Operations Research. NATO gave important impulses for

1647-659: The US-based organization INFORMS began an initiative to market the OR profession better, including a website entitled The Science of Better which provides an introduction to OR and examples of successful applications of OR to industrial problems. This initiative has been adopted by the Operational Research Society in the UK, including a website entitled Learn About OR . The Institute for Operations Research and

1708-527: The United Kingdom (including Patrick Blackett (later Lord Blackett OM PRS), Cecil Gordon , Solly Zuckerman , (later Baron Zuckerman OM, KCB, FRS), C. H. Waddington , Owen Wansbrough-Jones , Frank Yates , Jacob Bronowski and Freeman Dyson ), and in the United States ( George Dantzig ) looked for ways to make better decisions in such areas as logistics and training schedules. The modern field of operational research arose during World War II. In

1769-603: The United States, common degrees in business are: Graduates in business may also have generically titled degrees such as Bachelor of Science (BS), Master of Science (MS) or Doctor of Philosophy (PhD). In Europe, higher education degrees are organized into three cycles under the Bologna Process in order to facilitate international mobility: bachelor's , master's and doctorates . The details of how degrees are organized vary between countries and institutions, but in terms of ECTS credits , where 60 credits represents

1830-718: The United States: ACBSP , AACSB , and the IACBE . In Europe , the EQUIS business school accreditation system is run by the EFMD , which sometimes applies the more narrow EPAS label to specific courses. The AMBA accredits MBA programmes and other post-graduate business programmes in 75 countries; its sister organisation the Business Graduates Association (BGA), accredits business schools, based on

1891-661: The World War II era, operational research was defined as "a scientific method of providing executive departments with a quantitative basis for decisions regarding the operations under their control". Other names for it included operational analysis (UK Ministry of Defence from 1962) and quantitative management. During the Second World War close to 1,000 men and women in Britain were engaged in operational research. About 200 operational research scientists worked for

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1952-437: The areas were not vital, and adding armor to non-vital areas where damage is acceptable reduces aircraft performance. Their suggestion to remove some of the crew so that an aircraft loss would result in fewer personnel losses, was also rejected by RAF command. Blackett's team made the logical recommendation that the armor be placed in the areas which were completely untouched by damage in the bombers who returned. They reasoned that

2013-580: The auspices of the British Association , a symposium was organized in Dundee . In his opening address, Watson-Watt offered a definition of the aims of OR: With expanded techniques and growing awareness of the field at the close of the war, operational research was no longer limited to only operational, but was extended to encompass equipment procurement, training, logistics and infrastructure. Operations research also grew in many areas other than

2074-405: The change, 7% were sunk and 11% damaged; if submarines were caught on the surface but had time to submerge just before being attacked, the numbers rose to 11% sunk and 15% damaged. Blackett observed "there can be few cases where such a great operational gain had been obtained by such a small and simple change of tactics". Bomber Command's Operational Research Section (BC-ORS), analyzed a report of

2135-442: The construction of mathematical models that attempt to describe the system. Because of the computational and statistical nature of most of these fields, OR also has strong ties to computer science and analytics . Operational researchers faced with a new problem must determine which of these techniques are most appropriate given the nature of the system, the goals for improvement, and constraints on time and computing power, or develop

2196-418: The controversy that surrounds the learning method. There are also several business schools which still rely on the lecture method to give students a basic business education. Lectures are generally given from the professor's point of view, and rarely require interaction from the students unless notetaking is required. Lecture as a method of teaching in business schools has been criticized by experts for reducing

2257-487: The cost of transportation and sorting of mail led to England's universal "Penny Post" in 1840, and to studies into the dynamical behaviour of railway vehicles in defence of the GWR 's broad gauge. Beginning in the 20th century, study of inventory management could be considered the origin of modern operations research with economic order quantity developed by Ford W. Harris in 1913. Operational research may have originated in

2318-537: The efforts of military planners during World War I (convoy theory and Lanchester's laws ). Percy Bridgman brought operational research to bear on problems in physics in the 1920s and would later attempt to extend these to the social sciences. Modern operational research originated at the Bawdsey Research Station in the UK in 1937 as the result of an initiative of the station's superintendent, A. P. Rowe and Robert Watson-Watt . Rowe conceived

2379-519: The faculty realized that there were no textbooks suitable for a graduate program in business. Their first solution to this problem involved interviewing leading practitioners of business and writing detailed accounts of what these managers were doing, based partly on the case method already in use at Harvard Law School . Of course, the professors could not present these cases as practices to be emulated, because there were no criteria available for determining what would succeed and what would not succeed. So

2440-629: The foundation of national OR societies in Austria, Switzerland and Germany. IFORS held important international conferences every three years since 1957. The constituent members of IFORS form regional groups, such as that in Europe, the Association of European Operational Research Societies (EURO). Other important operational research organizations are Simulation Interoperability Standards Organization (SISO) and Interservice/Industry Training, Simulation and Education Conference (I/ITSEC) In 2004,

2501-501: The idea as a means to analyse and improve the working of the UK's early-warning radar system, code-named " Chain Home " (CH). Initially, Rowe analysed the operating of the radar equipment and its communication networks, expanding later to include the operating personnel's behaviour. This revealed unappreciated limitations of the CH network and allowed remedial action to be taken. Scientists in

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2562-669: The impact they make on students, employers and the wider community and society, in terms of ethics and responsible management practices. Triple accreditation is used to indicate that a school has been accredited by these three bodies: AACSB, AMBA, and EQUIS. About 1% of business schools are triple-accredited. Each year, organizations and publications such as Bloomberg Businessweek (US), Corporate Knights (Canada), Eduniversal (France), Financial Times (UK) and Quacquarelli Symonds (UK) publish rankings of business schools and MBA programs that, while sometimes controversial in their methodologies, nevertheless can directly influence

2623-484: The incentive and individualism in the learning experience. In addition to teaching students, many business schools run Executive Education programs. These may be either open programs or company-specific programs. Executives may also acquire an MBA title in an Executive MBA program within university of business or from top ranked business schools. Many business schools seek close co-operation with business. There are three main accreditation agencies for business schools in

2684-961: The lack of data, there are also no computer applications in the textbooks. Operational research is also used extensively in government where evidence-based policy is used. The field of management science (MS) is known as using operations research models in business. Stafford Beer characterized this in 1967. Like operational research itself, management science is an interdisciplinary branch of applied mathematics devoted to optimal decision planning, with strong links with economics, business, engineering, and other sciences . It uses various scientific research -based principles, strategies , and analytical methods including mathematical modeling , statistics and numerical algorithms to improve an organization's ability to enact rational and meaningful management decisions by arriving at optimal or near-optimal solutions to sometimes complex decision problems. Management scientists help businesses to achieve their goals using

2745-599: The large volumes of data required for such problems can be stored and manipulated very efficiently." Much of operations research (modernly known as 'analytics') relies upon stochastic variables and a therefore access to truly random numbers. Fortunately, the cybernetics field also required the same level of randomness. The development of increasingly better random number generators has been a boon to both disciplines. Modern applications of operations research includes city planning, football strategies, emergency planning, optimizing all facets of industry and economy, and undoubtedly with

2806-462: The level of education pursued, from €183 (US $ 216) per year for undergraduate and up to €388 (US$ 459) for doctorates. Tuition fees in the United Kingdom were introduced in 1998 and are £9,250 annually for undergraduate courses for home students in England, with higher fees for students who are not domiciled in the UK. Postgraduate courses in the UK often have higher fees, and many universities charge

2867-400: The likelihood of the inclusion of terrorist attack planning and definitely counterterrorist attack planning. More recently, the research approach of operations research, which dates back to the 1950s, has been criticized for being collections of mathematical models but lacking an empirical basis of data collection for applications. How to collect data is not presented in the textbooks. Because of

2928-474: The losses suffered by convoys depended largely on the number of escort vessels present, rather than the size of the convoy. Their conclusion was that a few large convoys are more defensible than many small ones. While performing an analysis of the methods used by RAF Coastal Command to hunt and destroy submarines, one of the analysts asked what colour the aircraft were. As most of them were from Bomber Command they were painted black for night-time operations. At

2989-561: The method of delivery for each of these approaches. A study from by Inside Higher Ed and the Babson Survey Research Group shows that there is still disagreement as to the effectiveness of the approaches but the reach and accessibility is proving to be more and more appealing. Liberal arts colleges in the United States like New England College , Wesleyan University , and Bryn Mawr College are now offering complete online degrees in many business curricula despite

3050-502: The military once scientists learned to apply its principles to the civilian sector. The development of the simplex algorithm for linear programming was in 1947. In the 1950s, the term Operations Research was used to describe heterogeneous mathematical methods such as game theory , dynamic programming, linear programming, warehousing, spare parts theory , queue theory , simulation and production control, which were used primarily in civilian industry. Scientific societies and journals on

3111-538: The on-target bomb rate of B-29s bombing Japan from the Marianas Islands by increasing the training ratio from 4 to 10 percent of flying hours; revealed that wolf-packs of three United States submarines were the most effective number to enable all members of the pack to engage targets discovered on their individual patrol stations; revealed that glossy enamel paint was more effective camouflage for night fighters than conventional dull camouflage paint finish, and

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3172-414: The prestige of schools that achieve high scores. Academic research is also considered to be an important feature and popular way to gauge the prestige of business schools. Business schools share the common purpose of developing global managerial talent and to this end, business schools are encouraged to accelerate global engagement strategies on the foundations of collaboration and innovation. In Europe,

3233-437: The principle of using warships to accompany merchant ships was generally accepted, it was unclear whether it was better for convoys to be small or large. Convoys travel at the speed of the slowest member, so small convoys can travel faster. It was also argued that small convoys would be harder for German U-boats to detect. On the other hand, large convoys could deploy more warships against an attacker. Blackett's staff showed that

3294-608: The professors instructed their students to read the cases and to come to class prepared to discuss the cases and to offer recommendations for appropriate courses of action. The basic outlines of this method still operate in business-school curricula as of 2016 . In contrast to the case method some schools use a skills-based approach in teaching business. This approach emphasizes quantitative methods, in particular operations research , management information systems , statistics , organizational behavior, modeling and simulation , and decision science . The leading institution in this method

3355-409: The pursuit of improved decision-making and efficiency, such as simulation , mathematical optimization , queueing theory and other stochastic-process models, Markov decision processes , econometric methods , data envelopment analysis , ordinal priority approach , neural networks , expert systems , decision analysis , and the analytic hierarchy process . Nearly all of these techniques involve

3416-421: The scientific methods of operational research. The management scientist's mandate is to use rational, systematic, science-based techniques to inform and improve decisions of all kinds. Of course, the techniques of management science are not restricted to business applications but may be applied to military, medical, public administration, charitable groups, political groups or community groups. Management science

3477-618: The spread of Operations Research in Western Europe; NATO headquarters (SHAPE) organised four conferences on OR in the 1950s – the one in 1956 with 120 participants – bringing OR to mainland Europe. Within NATO, OR was also known as "Scientific Advisory" (SA) and was grouped together in the Advisory Group of Aeronautical Research and Development (AGARD). SHAPE and AGARD organized an OR conference in April 1957 in Paris. When France withdrew from

3538-696: The subject of operations research were founded in the 1950s, such as the Operation Research Society of America (ORSA) in 1952 and the Institute for Management Science (TIMS) in 1953. Philip Morse, the head of the Weapons Systems Evaluation Group of the Pentagon, became the first president of ORSA and attracted the companies of the military-industrial complex to ORSA, which soon had more than 500 members. In

3599-504: The suggestion of CC-ORS a test was run to see if that was the best colour to camouflage the aircraft for daytime operations in the grey North Atlantic skies. Tests showed that aircraft painted white were on average not spotted until they were 20% closer than those painted black. This change indicated that 30% more submarines would be attacked and sunk for the same number of sightings. As a result of these findings Coastal Command changed their aircraft to using white undersurfaces. Other work by

3660-530: The survey was biased, since it only included aircraft that returned to Britain. The areas untouched in returning aircraft were probably vital areas, which, if hit, would result in the loss of the aircraft. This story has been disputed, with a similar damage assessment study completed in the US by the Statistical Research Group at Columbia University , the result of work done by Abraham Wald . When Germany organized its air defences into

3721-599: Was a characteristic feature of operational research. By comparing the number of flying hours put in by Allied aircraft to the number of U-boat sightings in a given area, it was possible to redistribute aircraft to more productive patrol areas. Comparison of exchange rates established "effectiveness ratios" useful in planning. The ratio of 60 mines laid per ship sunk was common to several campaigns: German mines in British ports, British mines on German routes, and United States mines in Japanese routes. Operational research doubled

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