New Decision-Making Tools for Managers: Mathematical Programing as an Aid in the Solving of Business Problems

New Decision-Making Tools for Managers: Mathematical Programing as an Aid in the Solving of Business Problems

New Decision-Making Tools for Managers: Mathematical Programing as an Aid in the Solving of Business Problems

New Decision-Making Tools for Managers: Mathematical Programing as an Aid in the Solving of Business Problems

Excerpt

In the years since the mid-1950's a trend toward a new and more scientific approach to the solution of business problems has been developing. It stems from the methods first suggested by the advocates of "operations research." But, it is already apparent that by drawing in depth both on mathematics and on the social sciences, and by utilizing intensively the high-speed electronic computer, researchers are beginning to give to the decision-making process a scientific base akin to the established methods which have long provided the bases for research in physics, biology, and chemistry.

Though claims of the progress already achieved are often exaggerated, it is significant that the developments of the last dozen years have so profoundly altered the businessman's thinking about the new decision-making tools that every alert executive feels he must become familiar with them as they are developed, and must learn as quickly as possible how he can utilize them to the advantage of his company.

Since one of the basic objectives of the Harvard Business Review is to bring to its management readers as quickly as possible news of developments which are of special interest to the administrator, the editors have followed this new trend toward a more scientific approach to decision making with special care.

Business organizations, schools of business administration, public and private research institutions, and specialized overseas pub-

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