Policy options for value added to different levels of production
Subject Areas : Mathematical Optimization
1 - Lecturer, Department of Industrial and Production Engineering, University of Ibadan, Ibadan, Nigeria
Keywords: strategy, Production levels, value-added, Optimal, Policy option,
Abstract :
This paper presents an analytic procedure for the value added to different production levels with different policy options. The approach is stochastic and thus provides a framework for informed decision-making on productivity growth under uncertainty conditions. The model was applied to data collected from a firm and re-sults recommend that the firm should redevelop if in diversification and systematisation growth stage and right size if in the bureaucratic growth stage.