Two Applications of a Linearly Ordered Ring in Business
Decision Making

Přehled o publikaci

D 2019

Two Applications of a Linearly Ordered Ring in Business Decision Making

BARTL, David

Basic information

Original name

Two Applications of a Linearly Ordered Ring in Business Decision Making

Authors

BARTL, David

Edition

Karviná, The 2nd International Conference on Decision Making for Small and Medium-Sized Enterprises, p. 10-16, 7 pp. 2019

Publisher

Silesian University in Opava, School of Business Administration in Karviná

Other information

Language

English

Type of outcome

Proceedings paper

Country of publisher

Czech Republic

Confidentiality degree

is not subject to a state or trade secret

Publication form

printed version "print"

References:

URL, URL

Marked to be transferred to RIV

Yes

RIV identification code

RIV/47813059:19520/19:A0000072

Organization

Obchodně podnikatelská fakulta v Karviné – Slezská univerzita v Opavě – Repository

ISBN

978-80-7510-339-0

UT WoS

000519107000002

Keywords in English

decision making under risk; failure mode and effects analysis; linear programming; linearly ordered rings; optimal allocation

Changed: 3/12/2023 03:37, Bc. Ivana Glabazňová

Abstract

In the original language

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.

Files attached

https://is.slu.cz/publication/34120/Bartl-paper-business-DEMSME.pdf File version

Cite

BARTL, David. Two Applications of a Linearly Ordered Ring in Business Decision Making. In 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.

@inproceedings{45266,
   author = {Bartl, David},
   address = {Karviná},
   booktitle = {The 2nd International Conference on Decision Making for Small and Medium-Sized Enterprises},
   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://drive.google.com/file/d/19X5TM9_jipxC93VaDSnkWTFfWn7hFTI7/view},
   year = {2019}
}

TY  - CONF
ID  - 45266
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://drive.google.com/file/d/19X5TM9_jipxC93VaDSnkWTFfWn7hFTI7/view
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 \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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