What does the feasible region represent?
What will be an ideal response?
A simultaneous consideration of the constraints defines the feasible region, which represents all permissible combinations of the decision variables. In some unusual situations, the problem is so tightly constrained that there is only one possible solution—or perhaps none. However, in the usual case, the feasibility region contains infinitely many possible solutions, assuming that the feasible combinations of the decision variables can be fractional values. The goal of the decision maker is to find the best possible solution.
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Vito Ranieri is an official of Local 12 of the ABCO, an international union. He is vigorous in defending the rights of the workers at Vulcan Industries, and the members of Local 12 are devoted to him
His manager, Pat Ng, has been looking for an excuse to "get" Vito for years. Finally, he finds Vito lighting up in a no-smoking area, and he immediately suspends him without pay for one week. There is currently a collective agreement in force between Local 12 and Vulcan. Like all agreements, it contains provisions dealing with discipline, and it is clear that Pat did not follow these provisions. Which of the following is TRUE? A) The union can now take the workers out on strike. B) The union can take the workers out on strike only if they vote in favour of that step. C) The union cannot strike until it first attempts mediation. D) The union cannot strike until it first submits to arbitration. E) The union can grieve the suspension on Vito's behalf.
Why is the management team such an important element of a business model?
What will be an ideal response?