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

Model., is model the essence of oprational research.

is model the essence of oprational research.

Regression equations - correlation regression analysis, Regression Equation...

Regression Equations The   regression equations express the regression line. As there are two regression lines so there  are two  regression  equations. The regression equatio

Line balancing, what happen if line balancing does not exist

what happen if line balancing does not exist

Operation research, Discuss the methodology of operation research

Discuss the methodology of operation research

Concept of reporting entity, Briefly discuss the concept of Reporting Entit...

Briefly discuss the concept of Reporting Entity in SAC 1 How asset is defined and recognised under the AASB Framework? Silver Developers Ltd is a property development company

QUANTITATIVE ANALYSIS, Ask queA manufacturing firm has discontinued product...

Ask queA manufacturing firm has discontinued production of a certain unprofitable product line. This created considerable excess production capacity. Management is considering to d

Find out where you should now invest your money, Question : Suppose tha...

Question : Suppose that you want to invest $10000 in the stock market by buying shares in one of two companies: A and B. Shares in Company A are risky but could yield a 50% ret

Process design, what is process design? what are the factors that affects t...

what is process design? what are the factors that affects the process design?

Sources of stress and job burnout, QUESTION Discuss the major sources o...

QUESTION Discuss the major sources of stress and job burnout and outline the strategies for managing stress. QUESTION How can you use the „Johari Window Model? as a

T, #Principles of OR

#Principles of OR

Write Your Message!

Captcha
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