This thoroughly revised and well-received book, now in its Fourth Edition, continues to give an in-depth and incisive analysis of the various mathematical techniques required for managers in their decision-making process. The book provides a clear understanding of the practical utility of mathematical modelling and techniques, such as linear programming, integer programming, goal programming, dynamic programming, inventory models, decision theory, game theory, network analysis, queuing, simulation and Markov analysis, for solving real-life problems. The book lays emphasis on the practical applications of the techniques rather than their rigorous mathematical treatment. It also discusses probability and probability distributions—essential to tackling the everyday uncertainties of life.
The book is primarily intended as a textbook for undergraduate and postgraduate students of management, postgraduate students of commerce, students of Master of Financial Control (MFC) course, and undergraduate students of industrial and production engineering. In addition, practising managers will also find the book immensely helpful in their day-to-day decision-making process.
New to This Edition :
A section describing the construction of activity on node (AON) networks for CPM and PERT networks has been included considering that most software designed for network analysis plot networks in this format.
An appendix on ‘Mathematics for Managers’ which includes the topics of Matrix Algebra and Differential Calculus.
New solved and unsolved problems.
The book is recommended by AICTE for PGDM course. The link is www.aicte-india.org/modelsyllabus.php
M. P. GUPTA, Ph.D., is former Head and Dean, Faculty of Management Studies (FMS), University of Delhi. He has been responsible for designing and introducing Operations Research and allied courses in the MBA programme of University of Delhi. He is an expert member of the Selection Committee for recruiting faculty at various management schools and universities including IIMs and MDI, Gurgaon. Earlier, he was a member of the Board of Governors, MDI; an executive member of the Association of Management Development Institution, South Asia and the Association of Indian Management Schools; an expert member of the Board of Studies of many universities/institutions; and a member of the management of AICTE and UGC.
Professor Gupta has authored four other books on Operations Research and has published several articles in national and international magazines.|R. B. KHANNA, a former Indian Army officer, is currently Professor at Indian Institute of Planning and Management (IIPM) Jaipur. He has been Professor at the Institute of Certified Management Accountants of India (ICMAI) Jaipur, visiting faculty at the Department of Management Studies, IIT Roorkee, and Professor and Dean (Academics) at the Institute of Management Studies, Roorkee. Colonel Khanna has also served as Head of Department, Computers at College of Military Engineering, Pune; Director, Financial Planning, Army Headquarters, Delhi; and Faculty member and Head of Department of Operations Research, College of Defence Management, Secunderabad.
