Linear and Integer Programming: Problem Types & Constraints
Variable Logical Constraints
Variable Logical Constraints: (Use ‘if ≤ then’ for these questions, and/or usually represented with +)
- If bring eggs and chicken then can’t bring bread: X1 + X2 + X3 ≤ 2
- If bring eggs, then must bring chicken and/or bread: X1 ≤ X2 + X3
- If bring eggs, then must bring both chicken and bread: X1 ≤ X2 and X1 ≤ X3
- If bring eggs, then must bring chicken or bread but not both: X1 ≤ X2 + X3 and X1 + X2 + X3 ≤ 2
- If don’t bring eggs then must bring chicken and/or bread:
5S Methodology, Lean Manufacturing, and JIT Production
5S Methodology
5S is a workplace organization method from Japan aimed at improving efficiency, safety, and productivity. It comprises five elements:
- Seiri (Sort): Sorting through workspace items to identify what is necessary and removing unnecessary items, reducing clutter and freeing up space. This helps streamline the work environment and allows employees to focus better on their tasks.
- Seiton (Set in Order): Organizing necessary items so they are easily accessible and clearly labeled. This principle
Game Types, Problem Solving & Cognitive Biases
Game Types: A Breakdown
- Cooperative vs. Non-Cooperative:
- In cooperative games, participants can form alliances to maximize their chances of winning.
- In non-cooperative games, participants cannot form alliances.
- Symmetric vs. Asymmetric:
- In a symmetric game, all participants have the same goals, and their strategies determine the winner.
- In asymmetric games, participants have different or conflicting goals.
- Perfect vs. Imperfect Information:
- In perfect information games, all players can see the other players’
Decision-Making Theories and Models
Triple Bottom Line: People, Profit, Planet
Complementarity: The theory that when considering your available choices, there is an implied assumption of what else would exist that affects the choice. For example, the decision to buy or not to buy a new car if the roads in the neighborhood have potholes or are unreliable.
Constructive Theory: A theory focused on how you construct and learn the problem collaboratively as a team. How do we reconcile differences in values when framing a problem?
- Focuses
Accounting: Plant Assets and Intangibles
Key Accounting Terms
This document defines key accounting terms related to plant assets, intangible assets, and related concepts.
Asset Valuation and Depreciation
- Plant Assets: Resources that have physical substance, are used in the operations of a business, and are not intended for sale to customers.
- Cash Equivalent Price: An amount equal to the fair value of the asset given up or the fair value of the asset received, whichever is more clearly determinable.
- Depreciation: The process of allocating to
Political Risk: Types, Assessment, and Management
Political risk refers to the complications businesses and investors may face due to political decisions, events, or conditions in a specific country or region. These can significantly influence the profitability, viability, and operational efficiency of economic activities. Here are five types of political risk, their potential impacts on businesses, and strategies for managing them:
Types of Political Risk
- Expropriation and Nationalization
- Effect on Business: A government might seize a company’s