Goal programming, Operation Research

Assignment Help:

Goal Programming

This provides a more realistic model. In a modern setting, profit maximization may not be the only objective of a business concern. Other objectives or goals could be sound ecological management, networking in the neighborhood and maximizing market share. These goals may dominate the earlier objective.

The idea is that a decision maker may not always be searching for an optimal solution but a "satisfying" solution that attempts to satisfy the many concerns of the management. Prof. Herbert A. Simon felt that a manager may not be able to optimize but may have to "satisfy".

Simplex method requires one goal. The goals are weighted and a single objective function is constructed which is then optimized to solve a goal programming problem.

Related Discussions:- Goal programming

Importance of normal distribution , Importance of Normal Distribution ...

Importance of Normal Distribution Normal distribution  plays  a very  important  role in  statistical  theory  and in  particular  in sampling theory. It has  been  found  th

Determination of objectives and values, In the judgement phase due care ...

In the judgement phase due care must be given to define correctly the frame of references of the operation. Objectives and values, whether economic social or aesthetic shoul

Explain decision making process, Explain Decision Making Process. Deci...

Explain Decision Making Process. Decision Making Process: A good decision can only be prepared as a result of a rational decision making process. The different stages of the

Preparation of script - report writing presentation , Preparation of Script...

Preparation of Script   The most  tedious  and arduous takes is  the  preparation of the  script. While  you have  all the ideas and  points  will should  stored  up in the  mi

Dynamic programming models, Dynamic programming may be considered thoutgr...

Dynamic programming may be considered thoutgrowth of mathematical programming and involves the optimization of multistage( sequence of inter related decisions) decision process

Research paper, Research Paper Overview Research Topic: •    Research ...

Research Paper Overview Research Topic: •    Research the effects of federal mandates in your state.  Examples include the Americans with Disabilities Act, the No Child Left B

Ranganathan''s principles, Ranganathan's Principles: Perhaps it would ...

Ranganathan's Principles: Perhaps it would be worthwhile to consider the Five Laws of Library Science of Dr. S. R. Ranganathan as the basic guidelines for formulating the obje

Range - measure of dispersion , RANGE Range  is the difference  betw...

RANGE Range  is the difference  between  the highest  and the  lowest  value is  series. This is the simplest  absolute measure  of dispersion. Symbolically  : R= L- S

Write Your Message!

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd