Introduction to Linear Programming Problems
Technological Environment in Business
Technological environment external/internal factors impacting business. Technology importance: consumer innovation, cost reduction, information accessibility. Benefits: 25% shipping cost reduction, vendor expansion. Cycle phases: awareness, acquisition, adaptation, advancement, abandonment. Social/economic/plant-level impacts.
Introduction to Quantitative Techniques & Decision Making Environment
This lecture introduces quantitative techniques as a scientific approach to managerial decision-making. It covers the importance of applying quantitative methods to complex business problems, the decision-making environment, and defines quantitative techniques as statistical and programming tools that help managers solve business problems systematically and efficiently.
