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Two-person, zero-sum games
Two players X & Y have two alternatives. They show their choices by pressing two types of buttons in front of them but they cannot see the opponents move. It is assumed that both players have equal intelligence and both intend to win the game.
This kind of simple game can be described in tabular form as follows:
The game is biased against Y, since if player X presses button m, he will always win. Therefore Y will be forced to press button r, to cut down his losses.
Balanced Score Card This is a popular approach in current management thinking which consists of a variety of indicators both financial and non-financial. The balanced scorecard
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Determine the Profitability ratios in relation to investment a) Return on capital employed/ return on investment b) Return on equity or return on equity share holders' funds
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1. Explain the modern control methods with examples. 2. What are the reports produced for performance measurement? Demonstrate.
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Archie Ltd manufactures a product called Gizmo. It uses the following direct inputs: Price Quantity Cost per unit of output Direct materials $4 per gram 10 grams per unit $40 per
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