The business of Sachet water (popularly called pure water) in Nigeria is often competitive due to the high demand for Sachet water by the populace. This is so because sachet water is the most affordable form of pure drinking water in Nigeria. As such, Sachet Water Firms that want to succeed in an ever increasing competitive market need to have the knowledge of Game Theory to identify which strategy will yield better profit independent of the strategy adopted by other competitors. This paper is aimed to investigate and determine the equilibrium point for three Sachet Water Firms using the Nash Equilibrium Method as it provides a systematic approach for deciding the best strategy in competitive situation. The result showed two Nash Equilibriums (promo, promo) and (stay-put, stay-put) with their respective payoffs of (82; 82; 82) and (147; 147; 147).
In today’s competitive business environment, companies are faced with a lot of problems such as setting goals, planning how these goals can be achieved, organization and control of how the available scarce resources can be used to satisfy the aim and objectives of the company. Every decision made determine if the company will maintain, increase or lose its market share in today’s competitive market. Thus, there is need for mathematical modeling tools to help in making the right decision. Although we have different mathematical techniques that can be used, Goal Programing technique is chosen in this study since it enables the decision to strive toward multiple objectives, thereby enable optimum use of resources. This paper is aimed at demonstrating the use of goal programing for financial management of a listed Industrial Goods Firm in Nigeria. The result shows that two out of the five formulated goals were met. The least expected total of revenue, expenses, asset and employer benefit should be 10.61 billion naira annually if the company wants to meet the asset and expenses goal.
The aim of this paper is to unravel the nature of some current problems in Nigeria as being wicked and ill structured. Since such problems are messy in nature, they cannot be handled by traditional research procedures. However, Operations Research offers dynamic models in which such squishy problems can be analyzed to reach satisfactory solutions. It is recommended in this paper that since Operations Research is an interdisciplinary scientific method for providing executives with quantitative basis for decision making; researchers in other fields of study outside mathematics should feel free to cash on this advantage to tackle wicked problems in their various fields.
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