...21. Describe how or why integer programming OR goal programming OR nonlinear programming (choose ONE) might be used in a real-world business situation. Be as specific as you can and use examples as appropriate. Goal programming is an aid for decision-making problems with multiple, possibly conflicting goals. Typically, linear goal programming attempts to minimize a weighted sum of deviations from goals. This program is used in real-world business in an attempt to eliminate or, at the least, mitigate this disquieting disconnect. Goal programming is the most widely applied tool of multiple-objective optimization/multicriteria decision making. However, today’s goal programming models, methods, and algorithms differ significantly from those employed even in the early 1990s. Goal programming, may be combined with various tools from the artificial intelligence sector (most notably genetic algorithms and neural networks) so as to provide an exceptionally robust and powerful means to model, solve, and analyze a host of real-world problems. In other words, today’s goal programming while maintaining its role as the “workhorse” of multiple-objective decision analysis—is a much different tool than that described in most textbooks. Goal programming’s label as the “workhorse” of multiple-objective optimization has been achieved by its successful solutions of important real-world problems over a period of more than 50 years. Some examples among these applications are: • The analysis of...
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...Republic of the Philippines EDUARDO L. JOSON MEMORIAL COLLEGE Palayan City S Y L L A B U S COURSE NO. : Math 18 PROGRAM: B.S. in Business Administration DESCRIPTIVE TITLE : Quantitative Techniques YEAR AND SECTION: 3A, 3B, 3C, 3D CREDIT : 3 Units SCHOOL YEAR: 1ST SEMESTER 2013-2014 COURSE DESCRIPTION: This course is designed for Commerce and Accountancy students which deals with the basic algebraic expressions, linear equations and inequalities, solving problems in a linear programming involving graphical method, simplex method, transportation method and assignment method, the break even analysis, the decision theory, business forecasting and inventory. GRADING SYSTEM: To obtain a passing mark, students should at least master 75% of the lesson. Computations of grades are shown below: For Prelim, Midterm and Final: |Class Standing (70%) |Examination (30%) | |Quizzes (20%) |Assignment (10%) |Project(20%) |Participation(20%) | | |Tentative Grade = Class standing + Examination | |Final Grade = Prelim (30%) + Midterm (30%) + Final (40%) ...
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...profit base and further stability for R. Coffee Ltd. in Lynchburg, VA? This company is a men’s clothing company that was opened in 1986 by Richard F. Coffee and has been supplying the men of Lynchburg with the finest clothing possible in the fashion industry by being on the forefront of style, design and quality for over twenty five years. This company, however, is somewhat “stuck” in the 20th century by using traditional marketing techniques of magazines, newspapers and shying away from computers as whole. In all actuality the receipts, client information and orders for the clothing from the clothing companies are all still written by hand. Even though this sounds shocking they have proven the test of time and thrived in the men’s clothing industry for almost thirty years. However, with the times, people and fashion industry changing to online sales, marketing and coupon techniques the problem of lacking social media outlets is one that will cost the company in the future. Studying, reviewing and addressing this problem is of the utmost importance because it will help to insure the future success of...
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...scope. For instance, it will be of interest to project and program/portfolio management professionals because many of the flawed risk management practices that Hubbard mentions are often used in project risk management. The book is divided into three parts: the first part introduces the crisis in risk management; the second deals with why some popular risk management practices are flawed; the third discusses what needs to be done to fix these. My review covers the main points of each section in roughly the same order as they appear in the book. The crisis in risk management There are several risk management methodologies and techniques in use ; a quick search will reveal some of them. Hubbard begins his book by asking the following simple questions about these: 1. Do these risk management methods work? 2. Would any organisation that uses these techniques know if they didn’t work? 3. What would be the consequences if they didn’t work His contention...
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...Organizational & Ethical Issue I. Introduction II. Ethical issue in BR A. Ethical qs are philosophical qs B. General rights & obligation of concerned parties C. Rights & obligation of the research participant * The obligation to be truthful * Participants’ right to privacy * Active & Passive research * Deception in research designs & the right to be informed * Experiment designs * Descriptive research * Protection from harm D. Rights & obligation of the researcher * Research the isn’t research * Mixing sales or fund-raising with research * Pseudo-research * Push polis Chapter 6: Problem definition: The foundation of BR I. Introduction A. Importance of starting with a good problem definition B. Problem complexity * Situation frequency * Dramatic changes * How widespread are the symptoms? * Symptom...
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...The Importance of Managing Risk Introduction A variety of academics have provided numerous definitions of risk, with some being centred around a specific business environment and others being a more generic definition of risk. A comprehensive risk definition that is tailored around the business environment can be defined as an event that will likely lead to substantial losses for an organisation, which could also be made more dangerous by the likelihood of the risk event occurring (Harland, et al., 2003). Furthermore, The English Oxford Dictionary defines risk as "A situation involving exposure to danger" or "The possibility that something unpleasant or unwelcome will happen". (Oxford Dictionary, 2015) Kaplan and Garrick (1981, p. 12) provide a simple equation for risk, which is "risk = uncertainty + damage". They believe that it is irrelevant as to what context risk exists in, and that the same equation can always be used to identify and manage risk. However, risk can still be categorised differently depending on what facet of the organisation it is affecting. For example, supply chain risk can be defined as ""the variation in the distribution of possible supply chain outcomes, their likelihood, and their subjective values" (March & Shapira, 1987, p. 1404). This is quite different to other, more generalised definitions of risk. Risk Management Before a risk management strategy can be decided upon, the risk event must first be identified. An organisation should conduct...
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... Research Methods Web Assignment Research refers to creative activities that are systematically undertaken to increase intelligence or knowledge with a mission of initiating change. It seeks the knowledge based on society, culture, and human living, among other areas with an aim of disclosing facts, solving problems, reaffirm results, and supporting the theoretical perspectives of other opinion groups. Additionally, organizational research can be conducted for the benefit of its effectiveness, seek market intelligence, and for identifying the best market segments. As such, this presentation illustrates the importance of research and use of research methods within an organization. The presentation highlights the theoretical aspects of research methods, as well as opportunities and challenges associated with the use of research method. Importance of research methods Research methods are foundational constructs that frame the way relevant information is obtained for the benefit of the organization. They help the top management to get effective data that is beneficial when making informed decisions. Researchers are supposed to explore various audiences in order to come up with different results that are helpful in making decisions, appropriately. The use of research methods is important to organizations as it helps to uncover or discover unrecognized principles that are favorable its market environment. Analysis of research study process The research...
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...radio frequency technologies, digital signal processing technologies, and state-of-theart surface mount manufacturing techniques. Affinity Diagrams The affinity diagram is a tool for organizing a large number of ideas, opinions, and facts relating to a broad problem or subject area. In developing a vision statement, for example, senior management might conduct a brainstorming session to develop a list of ideas to incorporate into the vision. This list might include low product maintenance satisfied employees courteous order entry low price quick delivery growth in shareholder value teamwork responsive technical support personal employee growth low production costs innovative product features high return on investment constant technology innovation high quality motivated employees unique products small, lightweight designs Once a large number of ideas have been generated, they can be grouped according to their “affinity” or relationship to each other. An affinity diagram for the preceding list is shown in Figure 1. Figure 1 Affinity Diagram for MicroTech Interrelationship Digraph An interrelationship digraph identifies and explores causal relationships among related concepts or ideas. It shows that every idea can be logically linked with more than one other idea at a time, and allows for “lateral thinking” rather than “linear thinking.” This technique is often used after the affinity diagram had clarified issues and problems. Figure 2 shows an example of how the key strategic...
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... Research Methods Web Assignment Research refers to creative activities that are systematically undertaken to increase intelligence or knowledge with a mission of initiating change. It seeks the knowledge based on society, culture, and human living, among other areas with an aim of disclosing facts, solving problems, reaffirm results, and supporting the theoretical perspectives of other opinion groups. Additionally, organizational research can be conducted for the benefit of its effectiveness, seek market intelligence, and for identifying the best market segments. As such, this presentation illustrates the importance of research and use of research methods within an organization. The presentation highlights the theoretical aspects of research methods, as well as opportunities and challenges associated with the use of research method. Importance of research methods Research methods are foundational constructs that frame the way relevant information is obtained for the benefit of the organization. They help the top management to get effective data that is beneficial when making informed decisions. Researchers are supposed to explore various audiences in order to come up with different results that are helpful in making decisions, appropriately. The use of research methods is important to organizations as it helps to uncover or discover unrecognized principles that are favorable its market environment. Analysis of research study process The research...
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...Tradeoff Analysis: Art of Developing Tradeoff Weights Tradeoff Analysis: Art of Developing Tradeoff Weights Tradeoff weights can be looked upon as weights with various trade characteristics which are technologically advanced by utilizing different approaches like the direct, swing weighting, and equivalence lottery methods. The word is tradeoff weights, so what is the meaning of weights. A weight can be identified as a measure of relative importance of a standard as evaluated by the individual making the decision. The assigning of weights can be explained as a system for collecting data on human inferences concerning the relative value of a set of standards (Yoe, 2013). The primary advantage of using the trade-off methodology is the ability to reduce the role of probabilities maintaining full cogency when utilized in the expected utility scale. Consequently, the evocation of utilities, to be utilized in the anticipated utility scale, becomes feasible even if probabilities are unclear or unknown (Roelofsma & Schut, 2013). Direct method is the most useful out of all the methods of weighting tradeoffs though, without sufficient information, it could prove difficult to establish a comparison by defining rating. As part of this method, direct trade-offs are compared between multiple sets and alternatives to make a comparison. In regards to ideal outcome, selection criterion can choose trade-off weight by scheming standards of every alternative. Conversely, accurate rating...
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...Financial Accounting Environment Management Quantitative Techniques Business Legislation Communication Skills- I Computers for Managers ITM UNIVERSITY, RAIPUR Master of Business Administration Subject: Principles of Management Semester-I Unit I Introduction - Nature, function, definition and importance of management, Definition, nature, purpose and scope of management, Functions of a manager, an overview of planning, organizing, staffing leading and controlling. Is management a science or art? Unit II Development of Management Thought - Scientific management; Contribution of Taylor, Fayol, Mary Follet, Elton Mayo; Hawthorne experiments, Contingency approach, Indian heritage in production and consumption. Management and administration, Management as a profession, Professionalism of management in India, Management ethics and management culture, Skills required of manager, Classification of skills, Methods of skills development. Unit III Management Planning - Concept of planning, objectives, Nature, Types of plan, Stages involved in planning, Characteristics of a good plan, Importance, Limitations of planning, Making planning effective, Strategic planning in Indian Industry, MBO. Decision Making - Concept, characteristics of decisions, Types of decisions, Steps Involved in decision making, Importance of decision making, Methods of decision making, Committee Decision Making. Unit IV Organisation - Concepts, Principle of organization, Importance, Features of good organization structure...
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...attention to absolutely new fields of management. This research concentrates on the field , called Time management. The paper here looks at whether Kazakhstan companies use and have good time management techniques and if they apply Stephen R.Covey’s popular theory of The Seven Habits of Highly Effective people. The purpose of this study is to examine the omissions of Kazakhstan companies in this issue and find the ways of correction. The sample of 85 companies, locating in Almaty, Astana, Shymkent and Aktobe has chosen to participate in this research. Data was collected through the results of well-constructed questionnaires and by the agency of general managers of companies. Questionnaire was distributed to all potential respondents. A total of 76 companies returned the completed questionnaire. The finding shows that most companies have placed low emphasis on company time management. In addition, the results identifies that only small portion of companies are familiar with the book «The Seven Habits of Highly Effective people» by Stephen Covey. With greater competition in the globalized market, this research implicates that Kazakhstan companies also should give greater priority to dynamic developments in time management in order to survive in the market place. Introduction The importance of time management process that has the huge benefits, as greater productivity, professional reputation, less stress, opportunities to achieve desired career goals. Especially, all of works, relating...
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...distinguished the variation involving qualitative and quantitative methods of investigation. We assessed the different designs,cumulatively qualitative and quantitative. Qualitative investigation is a type of investigation that you must have all data and figures to perform such research. However, going through the qualitative investigation, which are the kinds which are implemented by data analyzing and data collecting. By gathering data information will assist an investigator to assemble all of the data information that needs to be solved. Data analyzing help researchers to display all details and statistics to be gathered, designing the models and various explanations to the difficulties that are questioned. The quantitative method of investigation generally performs research sets by testing a hypothesis and taking controll over the investigation conducted. The design stresses the that the contributors for the investigation collect the data and evidence. Providing each of these methods in the designs, investigators will provide their ways through which their research investigation has the ability to solve the difficulties and accumulate other collections by questioning and receiving solutions which may be proper for those requests. Quantitative research includes the appropriate information of figures for the best results. Although applied appropriately, the quantitative research is questionably and determines the importance of the statistics. Team A knows that understanding...
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...Questions Chapter 1 Q1) What is marketing research? Marketing research is gathering and analyzing data to help make marketing decisions. Q2) What is the relationship between the marketing concept and the existence of marketing research? Marketing concept means that the company only introduces what consumers need and want. To know what consumers need and want you should apply marketing research. Q3) What is the importance of marketing research? The importance is to study the change of the external environment and the continuous change of people’s tastes to make better marketing decisions. Q4) What are the 3 roles of marketing research 1) Descriptive role 2) Diagnostic role 3) Predictive role Q5) What is the relationship between marketing research and the marketing environment? Marketing research aims to study the marketing environment to make better marketing decisions rather than using judgments. Q6) What are the types of marketing research? 1) Applied: to better understand the market (Specific) 2) Basic: To expand knowledge (General) Chapter 2 Q7) List the different steps of the market research process? 1) Identifying the problem, objective, and hypothesis 2) Creating the research design 3) Creating the research method 4) Selecting the sampling procedure 5) Collecting data 6) Analyzing the data 7) Writing the report 8) Follow-up Q8) Briefly define each step, what are the major...
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...One major requirement for the A&D High Tech Internet Store project is to complete the project and bring the store online before the Christmas season. This requirement may be the single most important factor in determining the success of the project. Identifying the risks that affect this requirement will be a major step in ensuring that the requirement is met. This section of the paper identifies those risks and defines the impact of those risks. Pin It 3.1 Determine the Risks Brainstorming and the Delphi technique were employed to identify possible risks that could affect the A&D High Tech Internet store project. The main sources of information for these sessions were the project documentation and WBS. Some of these risks carry a very low probability of occurrence with a high possible impact. Other risks carry a high probability of occurrence with a low impact on the project. The following is a list of the types of risks that may impact the successful completion of the A&D High Tech Internet Store project and the varying impacts that those risks impose: * Changing business requirements The impact of a change in the business requirements depends on the project phase during which those requirements change. Early changes would carry less impact than later changes. The actual impact of changing business requirements is hard to predict but the probability for this project is relatively low since the requirements appear to have been clearly defined. * Change...
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