Week 2 Assignment: Linear Programming

Week 2 Assignment Linear Programmingnamebusn312instructordateproblem

Week 2 Assignment: Linear Programming Name BUSN312 Instructor Date Problem 1 Answer: Objective: Z = Constraints: Input Crude A: Input Crude B: Output Gasoline X: Output Gasoline Y: Non-Negative Constraints: Problem 2 Answer Objective: Z = Constraints: Non-Negative Constraints: Problem 3 Answer Objective: Z = Constraints: Non-Negative Constraints: Problem 4 Answer Insert a chart Name: ____________________________________ Company Name: _____________________________ SWOT Analysis Enablers Challenges Internal STRENGTHS: WEAKENESS: External OPPORTUNITIES: THREATS: How the above information will be used:

Paper For Above instruction

Linear programming is a mathematical method used to determine the optimal allocation of limited resources to achieve a specific goal, often maximizing profit or minimizing cost, within a set of linear constraints. This analytical approach is widely used in various industries such as manufacturing, transportation, and logistics, providing managers with quantitative tools to make informed decisions. The assignment involves formulating linear programming models for multiple problems, including defining objective functions, setting constraints, and considering non-negativity conditions, and also includes conducting a SWOT analysis for a company.

In Problem 1, the objective is to maximize the profit, represented by the objective function Z, which is typically a linear combination of the production outputs or resource usages. Constraints involve input limitations for crude oil types—Crude A and Crude B—and the outputs, gasoline X and Y. These constraints reflect the availability of raw materials and production capacities. Non-negativity constraints ensure that variables, such as the amount of crude oil used or produced gasoline, cannot be negative, aligning with real-world physical limits.

Problem 2 and Problem 3 follow similar structures, where the primary goal is to formulate objective functions based on revenue, profit, or other measurable metrics, while considering the limitations imposed by resource availability and operational capacities. These problems often require setting up inequalities that represent the constraints, ensuring solutions are realistic within the stated parameters.

The final part of the assignment emphasizes creating a SWOT analysis—Strengths, Weaknesses, Opportunities, and Threats—for a hypothetical or real company. This strategic tool helps identify internal capabilities and external possibilities, as well as potential challenges. Internal strengths might include technological advantages, skilled workforce, or strong brand recognition, while weaknesses could encompass limited resources or outdated processes. External opportunities could be market expansion or technological developments, whereas threats may involve competition or regulatory changes.

Overall, applying linear programming combined with strategic analysis like SWOT provides a comprehensive framework for businesses to optimize operations and make strategic decisions. These analytical methods support resource allocation efficiency, facilitate risk assessment, and promote sustainable growth.

References

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  • Ferrell, O. C., Hirt, G., & Ferrell, L. (2015). Business Ethics: Ethical Decision Making & Cases. Cengage Learning.

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