| BARTL, David. Two Applications of a Linearly Ordered Ring in Business Decision Making. In ŠPERKA, R., SUCHÁNEK, P., ŠEBESTOVÁ, J., RYLKOVÁ, Ž., MATUŠÍNSKÁ, K., MAZUREK, J., ČEMERKOVÁ, Š., DOLÁK, R. The 2nd International Conference on Decision Making for Small and Medium-Sized Enterprises. Karviná: Silesian University in Opava, School of Business Administration in Karviná, 2019, p. 10-16. ISBN 978-80-7510-339-0. |
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@inproceedings{34120,
author = {Bartl, David},
address = {Karviná},
booktitle = {The 2nd International Conference on Decision Making for Small and Medium-Sized Enterprises},
editor = {ŠPERKA, R., SUCHÁNEK, P., ŠEBESTOVÁ, J., RYLKOVÁ, Ž., MATUŠÍNSKÁ, K., MAZUREK, J., ČEMERKOVÁ, Š., DOLÁK, R.},
keywords = {decision making under risk; failure mode and effects analysis; linear programming; linearly ordered rings; optimal allocation},
howpublished = {tištěná verze "print"},
language = {eng},
location = {Karviná},
isbn = {978-80-7510-339-0},
pages = {10-16},
publisher = {Silesian University in Opava, School of Business Administration in Karviná},
title = {Two Applications of a Linearly Ordered Ring in Business Decision Making},
url = {https://www.researchgate.net/publication/333433113_Two_Applications_of_a_Linearly_Ordered_Ring_in_Business_Decision_Making},
year = {2019}
}
TY - JOUR
ID - 34120
AU - Bartl, David
PY - 2019
TI - Two Applications of a Linearly Ordered Ring in Business Decision Making
PB - Silesian University in Opava, School of Business Administration in Karviná
CY - Karviná
SN - 9788075103390
KW - decision making under risk
KW - failure mode and effects analysis
KW - linear programming
KW - linearly ordered rings
KW - optimal allocation
UR - https://www.researchgate.net/publication/333433113_Two_Applications_of_a_Linearly_Ordered_Ring_in_Business_Decision_Making
N2 - We propose two applications of a special linearly ordered commutative ring with zero divisors in business decision making. First, we consider an enterprise facing several future scenarios (events) with the likelihood (expectation or probability) and the worst impact score of each event being given. We propose that the likelihoods and scores attain values in the special linearly ordered ring. The undesired impact of an event can be mitigated if the enterprise makes an investment into preventive measures. The goal is to find an optimal allocation of a limited budget so as to minimize the overall expected impact score. Second, we briefly note that it also makes sense to use the special linearly ordered ring with zero divisors in the FMEA (Failure Mode and Effects Analysis) method, and, in line with the first application, we propose an extension the method. We illustrate the applications by simple examples.
ER -
BARTL, David. Two Applications of a Linearly Ordered Ring in Business Decision Making. In ŠPERKA, R., SUCHÁNEK, P., ŠEBESTOVÁ, J., RYLKOVÁ, Ž., MATUŠÍNSKÁ, K., MAZUREK, J., ČEMERKOVÁ, Š., DOLÁK, R. \textit{The 2nd International Conference on Decision Making for Small and Medium-Sized Enterprises}. Karviná: Silesian University in Opava, School of Business Administration in Karviná, 2019, p.~10-16. ISBN~978-80-7510-339-0.
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