1 - In your own words, define modelling

2 - Describe the significance of modelling to (a) managers, and (b) the organisation.
3 - Analyse the 3 types of modelling. Provide examples for each.

QS 1
Model refers to a scale-down in size or miniature of a real world problem / concerns. For
example how to make decisions to remedy the current situation problem, and how
variables factors may both internal and external factor; comes to influence the
management of decision making.

QS 2a
To a manager, this modelling can assist them to get an overview of problem arise,
clearer picture of the overall situation problems, able to manage activities and resource
across different department segment effectively, able to make decision based on the
importance of stakeholders for example, budgetary and time constraint.

QS 2b
As for the organisation, it enable them to see and understand the situation problems,
able to coordinate activities in moving and changing the entire organization towards the
goals and objectives. They develop different types of solution and alternatives to remedy
the current problems across the entire organisation structural and hierarchy.

QS 3

Simulation,
aims to find a good enough solution by experimenting and it copies the nature of reality
problems though not 100% truly. Simulation is normally used only when a problem is too
complex to be treated using normal numerical techniques. For example, market test
before launching the real product. Define the problem if the product items may or not
penetrate the market, or the production items can keep up with the sales and demand of
customers. Secondly, construct the simulation model how many customer tends to buy
the product items from sampling and actually buy the real product items. Then test and
validate them through via giving out sampling or quick short hands-on of product items
at various locations populated with customers. Take notes of customer feedback,
comments and open to their suggestions in order to evaluate the experiments /
simulation processes and then make an improvement to that in mind to customer point
of views and finally implement the results over the entire stages and simulation
processes.

1
QS 3

What-if and Goal seeking

Assesses solutions based on changes in variables or assumptions (scenario analysis).
Also known as predict future occurrences. For instance, assuming the demand of
customer buying product B may keep going over the expected levels, quantity amount of
stock will be quickly depleted before the next restock supply comes in therefore restock
and ordering more than usual amount from supplier immediately.
Whereas goal seek modeling its a backwards approach, starts with goal. Have to
determine values of inputs needed to achieve goal. Example is break-even point
determination. How much sales have to make and number of restock supply of product
item A needs to buy out readily in order to achieve zero loss and though no profit at all.
Therefore it is break-even between no profit and no loss incurs.

Heuristic
aims to gets satisfactory solutions a merely good enough solution in more quickly and
less expensively manner as well as finds good enough feasible solutions to very complex
problems. For instance, when the company act up quickly to solve problem situation such
as decision makers choose the first solution alternative that satisfies minimal decision
criteria.