In recent years there has been a rapid expansion of Management Education. It led to increased demand for two-year management programs and Integrated 5-Year Programs in Management set up in reputed B-Schools and Universities. The Institutes of Management includes 20 Indian Institute of Management (IIMs), Institute of Management Technology Ghaziabad, XLRI (Xavier’s Institute of Management), Jamshedpur; Faculty of Management Studies, University of Delhi; S.P. Jain Institute of Management and Research, Mumbai; Development Institute (MDI), Gurgaon; Narsee Monjee Institute of Management (NMIMS), Mumbai; International Management Institute, Delhi; Symbiosis, Pune and the like. The rapid expansion in Management Education shows the growing demand for Management Education in India. I have an opportunity to teach at the Institute of Management Technology, Nagpur. This experience gave me insights into what to teach and how to teach in a management program with about 50% of students with no background in Mathematics. My Book includes comprehensive material from Management Functions of Marketing, Finance, Human Resource, and Operations Management.
Salient Features of the Book
This Book promises to be the first Indian Book that shows applications of Operations Research topics, ranging from linear programming, Quadratic programming, Dynamic programing, Sequencing, Decision Analysis, etc., in helping an Indian practicing manager state, define, and structure, and resolve complex managerial problems.
This Book is descriptive only to describe the practical problem that the authors want the readers to formulate and provide analytic recommendations. It is only conditionally prescriptive because it says that if a person wants a logical approach in helping him decide a course of action, then the person would find this Book helpful.
In the Book, extensive use of MS Excel would help the readers carry out complicated computations without any errors. Similarly, Book frequently uses the Excel embedded solver program to solve large Linear Programming Problems and Integer Programming Problems (including problems where the solution is in Binary numbers or General Integers).
Finally, I included real-life cases to sharpen the reader’s skills in applying the ideas of Operations Research for analysis and resolution of unstructured problems. Many of the cases in the Book are new and try to cover the management prospects.