Business Commons^™

No. 72 1968 November Review

International Journal for Business Education

This initiative documents the preservation and digital release of the organization’s historical print archives, representing decades of scholarship in international business education. By converting legacy issues into accessible online formats, the project enhances global access to foundational research, pedagogical innovations, and early thought leadership that shaped the field. The digitized collection provides educators, researchers, and practitioners with a comprehensive record of evolving theories, instructional practices, and international business trends. Making these archival materials publicly available supports continued inquiry, enables longitudinal analysis, and strengthens the discipline’s historical continuity. This effort reflects the organization’s commitment to advancing international business education by ensuring …

Use Of Queueing Theory In Studying Research And Development Project Flow, Jon L. Bushnell

Research Reports from the Department of Operations

This study explores the potential applications of queueing theory to research and development (R&D) operations, drawing parallels between projects in an R&D facility and customers in a traditional queueing system. Projects are accepted, assigned to researchers or queued for future scheduling, and ultimately completed. The research focuses on determining the applicability of established queueing theory techniques rather than developing new methods. To assess feasibility, mathematical models were constructed to represent the system in an idealized manner, requiring identification of key parameters, system characteristics, and performance metrics. The study addresses critical questions, including which queueing models can describe the system, how …

Programming In Markov Processes, Richard V. Evans

Research Reports from the Department of Operations

This paper is concerned with optimization problems which arise when one considers the design and control of systems whose basic behavior follows a Markov law. Of crucial importance is the elementary design problem which contrasted with the elementary control problem by examination of their linear programming formulations. Only linear programming formulations seem able to provide significant comparisons at the moment. Unfortunately the linear programming version of the design problem is not appealing from a computational point of view and alternative algorithms are badly needed.

Programming Problems And Changes In The Stable Behavior Of A Class Of Markov Chains, Richard V. Evans

Research Reports from the Department of Operations

This paper develops expressions for the derivatives with respect to a parameter u of the stable probabilities of a class of Markov Chains whose transition matrices are of the form Q + PW. These expressions lead to iterative schemes for calculation which in term suggest gradient algorithms for finding locally optimal chains.

Queueing Systems With First-Order Dependence, U. Narayan Bhat

Research Reports from the Department of Operations

This paper reviews the historical evolution and current state of queuing theory, tracing its development over six decades. Two periods of peak activity are highlighted: the 1930s, which saw the introduction of foundational analytical methods and queue disciplines for modeling realistic systems, and the 1950s–1960s, marked by the rapid growth of the field and the development of advanced techniques for analyzing finite-time and steady-state systems. Recent years have seen a slowdown in research activity due to the completion of studies on simpler systems and a shift in focus among theoretical and applied scientists. The authors argue that the remaining challenges …

Group Research As An Educational Tool, Burton V. Dean

Research Reports from the Department of Operations

Educational systems are undergoing rapid changes to meet society's needs for highly educated and creative individuals. College grades, in themselves, are not useful in predicting future success in technical based organizations. Reducing the age of initial contributions of creative individuals would increase total productivity over a lifetime by as much as five percent per year. An analysis of educational and behavioral research studies indicates that group research in educational institutions would reduce competition for grades, on an individual basis, tend to increase the development of creativity, and produce original contributions of a high quality at an early age. A group …

Resource Allocation To Interrelated R & D Activities, Milton E.F. Schoeman

Research Reports from the Department of Operations

The organizational problem of allocating resources to systems, components, and projects in an R&D network with interrelated elements is investigated. Four mathematical programming models are formulated and analyzed - two static and two dynamic. Essentially, the distinction between the models is based on the assumptions made concerning the nature of the network interrelationships and the form of the project cost-risk functions. Extensive use is made of concepts and developments in convex programming, integer linear programming and dynamic programming. Attention in each case is directed both towards a characterization of the optimal budgeting strategy and towards the construction of an algorithm …

Multiple R And D Project Scheduling With Limited Resources, Burton D. Corwin

Research Reports from the Department of Operations

This article considers the application of a heuristic scheduling model for multiple project scheduling with limited resources to R and D projects. The basic operation of the model and its underlying heuristics are described. The use of this scheduling model for multiple R and D project scheduling is discussed.

A Mathematical Theory For The Exploitation And Control Of Biological Populations, Stuart H. Mann

Research Reports from the Department of Operations

Three types of biological populations are considered in which members of the population are harvested either for their own value or to protect the value of another element of the ecosystem. A revenue and cost structure is defined for each of these systems and population growth rates are assumed to be random variables. Operating policies are described that maximize the expected economic gain to be realized, in the duration of time during which management of the system is anticipated.

Queueing Systems With Balking And Heterogeneous Servers, Vijendra P. Singh

Research Reports from the Department of Operations

A Markovian queueing system with balking and the heterogeneous servers, where the service rates are arranged in a decreasing sequence, is first studied. Conditions which show the efficiency of the heterogeneous systems and the optimal sequences of the service rates which yield the minimum values of the average characteristics of the heterogeneous system are found in two and three server cases. Various tables and graphs representing the average characteristics of both the homogeneous and the heterogeneous systems are given. The case where service depends upon queue length and there is a cost associated with both the servers and the waiting …

The Design Of Markovian Congestion Systems, Hillel Jeremy Kumin

Research Reports from the Department of Operations

An algorithm is proposed for the design of a class of Markovian congestion systems. The class is characterized by almost triangular transition matrices. A feature of the algorithm is that it does not utilize closed-form expressions for the steady-state behavior of the system. Convergence is discussed, and the results of numerical experimentation are provided. A behavioral result is also obtained for this class of systems.

Primal Decomposition Of Mathematical Programs By Resource Allocation, Gary Jay Silverman

Research Reports from the Department of Operations

A new method to solve convex separable programs is developed; with the added consideration of having a feasible solution available at all times. This is done in a context of resource allocation where the optimal return from any given allocation is made a function of the amount of resource allocated. The main research problem involves the properties of this function, which is not generally differentiable, and its directional derivatives. These are explored and a method is constructed using their properties. A linear program called the reallocation problem provides either optimality conditions or a best direction in which to reallocate at …

Allocation Of Resources For Basic Research In A Mission Oriented Governmental Agency, Burton V. Dean, Samuel J. Mantel Jr., Melvin Brown, Donald C. Friedel, David Huettner

Research Reports from the Department of Operations

A study is made of the process by which basic research is funded in a mission-oriented agency of the federal government, with particular attention to the Office of Naval Research. To provide a rationale for improved funding procedures, a model is developed to associate a value with a research portfolio. Two models are developed, the first in the case where funding is made on the basis of supporting science per se, the second corresponds to the case where funding is made on the basis of mission-relatedness. An optimum portfolio would maximize the combined value of mission oriented and science oriented …

Optimality Of (S,S) Policies When Setup Costs Vary, Richard V. Evans

Research Reports from the Department of Operations

This paper considers several analyses of the dynamic programming problem associated with an inventory system in which there is a setup cost which is a decreasing function of the inventory before ordering. Conditions are given under which the optimal policy is of the (s,S) form.

Operations Research In R & D Management, Burton V. Dean

Research Reports from the Department of Operations

This paper has indicated the impact and growth of R&D in our national economy and in our industrial organizations. The concept of R & D as a managed, productive process responsible for the application of science and technology to achieve economic goals of the firm, has provided an impetus for development of an R&D management science.

A Controlled Transportation Queueing Process, U. Narayan Bhat

Research Reports from the Department of Operations

A transportation queueing process in which taxis arrive in a Poisson process and customers arrive as a renewal process independent of taxi-arrival process is controlled by calling extra taxis whenever the total number of customers lost to the system reaches a certain predetermined number. Transient and steady state behavior of this process is studied using renewal theoretic arguments. The optimum value of the control variable is also obtained so as to minimize the total cost to the system due to the waiting taxis and lost customers.

On The Budget Decrement Problem, T.S. Chidambaram

Research Reports from the Department of Operations

A model for dealing with the Army budget decrement problem is proposed. A simple algorithm is developed based on the assumption that the original allocation is optimal. Kuhn-Tucker theory in non-linear programming is used to show that this algorithm reaches the revised optimal solution in a finite number of iterations.

R & D Budgeting Allocation For New Product Development, Warren L. Balinsky, Melvin Brown, Donald C. Friedel, Milton E.F. Schoeman

Research Reports from the Department of Operations

A brief study is made of the problem of budgeting for new product R & D, when a key budgeting decision is whether to perform the necessary research in-house or whether to acquire available research companies with the required capabilities. Three mathematical models are developed, of increasing complexity, and solution techniques are obtained. Several extensions are formulated, as possible suggestions for future studies.

Some Queueing Systems With Mixed Disciplines, U. Narayan Bhat

Research Reports from the Department of Operations

Queue length and waiting time processes in transient and steady states are studied in the following single server queueing models: customers arrive in a Poisson process, register in the order of their arrival and form groups of a constant size, say k. (1) customers are selected for service at random from the group at the head of the queue and the service times have a general distribution. (2) customers belonging to a group are ordered according to the length of service they demand and served in this order starting with the one with the shortest service (or with the longest …

Risk And Uncertainty As Barriers To Entry To The Ready-To-Eat Breakfast Cereal Industry In The United States, James Hyland Ryan

Anderson School of Management Theses & Dissertations

This paper examines entrance barriers to the ready-to-eat breakfast cereal industry in the United States. Research studies and primary data are examined for the purpose of demonstrating the existing product-market synergy differential between industry participants and potential entrants to this market. This synergy differential is then examined in relation to the perceived risk associated with a breakfast cereal product investment, when viewed by a potential entrant vis-a-vis an industry participant. Explanatory models are formulated and developed which describe the relationship between the rate of return on investment and the risk/uncertainty inherent in the cereal industry.

Risk Classes And The Required Rate Of Return On The Common Stock Of A Firm, Robert Lee Cheek

Anderson School of Management Theses & Dissertations

This paper proposes a method of examining the assump­tion that there are homogeneous risk classes of firms which will have the same required rate of return on the common stock, the risk classes being defined as those firms whose expected average income is subject to the same degree of uncertainty. This assumption, proposed by Franco Modigliani and Merton H. Miller in their famous work on the cost of capital to a firm, has tended to be neglected in the empirical studies, and in particular the tests of Alexander Barges, which have been made during the recent years. The method proposed …

Boulwarism: A Study Of A Collective Bargaining Technique, Candelario Trujillo Jr.

Anderson School of Management Theses & Dissertations

The collective bargaining technique labeled "Boulwarism" derives its name from Lemuel R. Boulware who introduced a program of job marketing at GE in 1948. The major precepts of Boulwarism are:

1. That management is in the best position to allocate the resources of the company.

2. That a company offer will be changed only on receipt of new information supplied by the unions, but this should not occur because of the year round research conducted by the company.

3. That a direct communications approach with its workers is more desirable.

This study has attempted to evaluate "Boulwarism'' on the basis …

Reliability Considerations For Communication Satellites, Frank Polizzi

Theses

A detailed program covering all phases of reliability for a communication satellite was presented. In long mission programs such as this one, reliability is the prime consideration in assuring a successful accomplishment of the stringent goals set forth. Reliability principles and methods were incorporated in delineating each major task in the program. These principles and methods not only aided the reliability personnel in performing their duties better, but also assisted the design group, manufacturing personnel, and the testing and evaluation group in performing their jobs efficiently by being aware and knowledgeable of reliability engineering.

Various reliability disciplines were imposed, as …

An Empirical Test Of Financial Theory Relating To Utilities In The Capital Market, Gary Owen Glenn

Anderson School of Management Theses & Dissertations

By observation of the average cost of new debt capital, average market price per share of common equity, average earnings per share of common equity, and average price-earnings ratios, it is apparent that utilities are facing a deteriorating competitive situation in the capital market in relation to industrials. It was the purpose of this study to determine if these deteriorating characteristics were statistically significant or whether they were strictly attributable to chance. It was also to be determined if the movements in the utilities' average cost of new debt capital were significantly related in a statistical sense to the movements …

An Empirical Study Of Superior-Subordinate Personal Values And Performances Evaluation, Robert T. G. Lassiter

Anderson School of Management Theses & Dissertations

Although numerous performance evaluation techniques have been developed, such as graphic rating scales, check lists, paired comparisons, critical incident, etc., there remains an element of human judgement in their application, ad judgment is affected by personal values. The relationship of value or orientations to interpersonal relations, understanding, communications, decision making, and the evaluation of decision has clear-cut implications to the problems associated with performance evaluation. In the administrative setting, the white collar worker' performance is interpersonal relations, communications, and decision making. This is particularly true of the 68 people who participated in this study, since they were all engaged in …

Ua3/3/1 Correspondence Re: Student Fees, William Menser, Kelly Thompson, Wku Student Government Association

WKU Administration Documents

Correspondence regarding the assessment of student fees and the Associated Student Government budget for 1968-1969.

1968-05-01, Morehead State Board Of Regents

Morehead State Board of Regents Agenda Books and Meeting Minutes

No abstract provided.

A Study To Determine The Feasibility Of Locating A Family Type Restaurant In Logan, Utah, Lynne A. Anderson

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

Increasing attention is drawn to the stock market as the number of shares traded continues to reach new highs. The purchase of common stock as an effective hedge against inflation is also broadly discussed. Obviously, not all stock presently offered for sale will yield a favorable return on investment. The use of comprehensive financial analysis has proven to be essential in effective investment management. It is the purpose of this report to thoroughly analyze the Boise Cascade Corporation to determine whether or not the purchase of its common stock would be a profitable long-term investment.

An Analysis Of Boise Cascade Corporation For Long-Term Investment Purposes, Lynne A. Anderson

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

Increasing attention is drawn to the stock market as the number of shares traded continues to reach new highs . The purchase of common stock as an effective hedge against inflation is also broadly discussed . Obviously, not all stock presently offered for sale will yield a favorable return on investment . The use of comprehensive financial analysis has proven to be essential in effective investment management . It is the purpose of this report to thoroughly analyze the Boise Cascade Corporation to determine whether or not the purchase of its common stock would he a profitable long-term investment.

Financial …

Some Aspects Of Queueing Theory And Its Applications, U. Narayan Bhat

Research Reports from the Department of Operations

This paper examines the state of queueing theory research, inspired by Saaty’s 1966 critique of the field’s lack of practical application despite substantial theoretical advancements. Acknowledging the limited progression in applied queueing solutions since Morse’s foundational work in 1958, the discussion attributes this gap to insufficient communication between theoretical researchers and applied scientists. The study organizes its review into three critical problem areas: behavioral, statistical, and optimization aspects of queueing systems. Each area is explored with historical context, highlighting trends, contributions, and deficiencies in the literature. Exceptions where optimization and simulation approaches have advanced practical applications are noted. The paper …