Operations Research Helps Manage Startups Better
Journal Title: International Journal of Business and Management Invention - Year 2017, Vol 6, Issue 11
Abstract
Startup India action plan was launched by Government of India in January 2016. This innovative plan endeavors to create an ecosystem in the country to motivate young entrepreneur to turn their business idea into action, thereby enhancing productivity & increasing job opportunities. However, it is equally important that startups must equip themselves with advanced analytical methods helpful in making efficient decisions about planning and implementation of various business activities. Historically, OR techniques have mostly been applied for large scale companies as they wanted their operations made easy and cut their costs. While the Government of India envisions transforming the country into a start up hub, its much faster growth may not be reached without judicious applications of sophisticated operations research techniques. It is much useful & applicable for firms involved in analytics at different stages of operation. Whether used consciously or unconsciously OR techniques are significantly helpful for smooth and efficient functioning of Startups in our country and world at large.
Authors and Affiliations
1Dr. Purnima Sinha
Keywords
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