Transcript Optimization Techniques and New Management Tools.ppt

SM1.21 Managerial Economics

Welcome to session 2
Optimization Techniques and
New Management Tools
1
SM1.21 Managerial Economics

Optimization Techniques and New
Management Tools
2
Methods of expressing
Economic Relationships



Equation
Tables
Graphs
3
Optimization Analysis

Examining the process by which a firm
determines the output level at which it
maximizes total profits
4
Optimization Analysis


Total revenue/cost approach
Marginal Analysis
5
New Management Tools




Benchmarking
Total Quality Management (TQM)
Reengineering
The Learning Organization
6