How to Use Linear Programming for Information System Performances Optimization

Background: Organisations nowadays operate in a very dynamic environment, and therefore, their ability of continuously adjusting the strategic plan to the new conditions is a must for achieving their strategic objectives. BSC is a well-known methodology for measuring performances enabling organizations to learn how well they are doing. In this paper, “BSC for IS” will be proposed in order to measure the IS impact on the achievement of organizations’ business goals. Objectives: The objective of this paper is to present the original procedure which is used to enhance the BSC methodology in planning the optimal targets of IS performances value in order to maximize the organization\u27s effectiveness. Methods/Approach: The method used in this paper is the quantitative methodology – linear programming. In the case study, linear programming is used for optimizing organization’s strategic performance. Results: Results are shown on the example of a case study national park. An optimal performance value for the strategic objective has been calculated, as well as an optimal performance value for each DO (derived objective). Results are calculated in Excel, using Solver Add-in. Conclusions: The presentation of methodology through the case study of a national park shows that this methodology, though it requires a high level of formalization, provides a very transparent performance calculation

A new approach to developing and optimizing organization strategy based on stochastic quantitative model of strategic performance

This paper presents a highly formalized approach to strategy formulation and optimization of strategic performance through proper resource allocation. A stochastic quantitative model of strategic performance (SQMSP) is used to evaluate the efficiency of the strategy developed. The SQMSP follows the theoretical notions of the balanced scorecard (BSC) and strategy map methodologies, initially developed by Kaplan and Norton. Parameters of the SQMSP are suggested to be random variables and be evaluated by experts who give two-point (optimistic and pessimistic values) and three-point (optimistic, most probable and pessimistic values) evaluations. The Monte-Carlo method is used to simulate strategic performance. Having been implemented within a computer application and applied to solve the real problem (planning of an IT-strategy at the Faculty of Economics, University of Split) the proposed approach demonstrated its high potential as a basis for development of decision support tools related to strategic planning

Pristup optimizaciji strateških performansi

This paper presents a matrix approach to the measuring and optimization of organizational strategic performance. The proposed model is based on the matrix presentation of strategic performance, which follows the theoretical notions of the balanced scorecard (BSC) and strategy map methodologies, initially developed by Kaplan and Norton. Development of a quantitative record of strategic objectives provides an arena for the application of linear programming (LP), which is a mathematical technique for the optimization of linear objective functions. It is believed that the development and mathematical validation of such an algorithm opens new venues for future research in the quantitative approach to strategic management, as well as provides opportunities for the development of decision-making tools related to the optimization of strategic performance.U ovom se radu prezentira matrični pristup mjerenju i optimizaciji strateških performansi organizacije. Predloženi se model temelji na matričnom predstavljanju strateških performansi, koje slijedi teoretske koncepte Kaplanovih i Nortonovih modela balanced scorecard (BSC) i strateških mapa. Razvoj kvantitativnog predstavljanja strateških ciljeva otvara prostor za primjenu linearnog programiranja (LP) – matematičke tehnike za optimizaciju linearnih funkcija cilja. Vjeruje se da bi razvoj i matematička validacija ovakvog algoritma mogla otvoriti novo područje za kvantitativna istraživanja u strateškom menadžmentu, kao i za razvoj alata za potporu odlučivanju u području optimizacije strateških performansi

APPLICATION OF AHP METHOD FOR THE SELECTION OF BUSINESS PLAN SOFTWARE

This study seeks to determine the importance of tools that are offered within the software (simplicity, help, etc.) and sort them according to your preferences. The results are intended for novice users in business planning. The study was carried out among students who are familiar with the possibilities of five programs for business planning. The students conducted the evaluation in accordance with each of the presented programs that were selected by experts from the problem areas. The practical importance of the results of this research is seen as a recommendation of faculties of economics in procurement of software for business planning for educational purposes. It is possible to apply the already appointed multi criteria (AHP) model to the target group with extensive entrepreneurial experience, with a change to the set of criteria weights

Estimating the Usefulness of ICT Tools for Implementing Critical Thinking in Higher Education

The COVID-19 pandemic interrupted the higher education improvement and highlighted the maintenance of public health as an essential priority. Due to this unexpected situation, the educational system moved from face-to-face to distance learning without prior preparations. This contingency made it possible to study the benefits of ICT tools in the educational process. Starting from the primary function of the educational process and through the forecast of future trends in education, this paper presents the guidelines for improvement of the teaching and learning processes and some opportunities for their implementation. A survey was conducted among the Faculty of Economics, Business, and Tourism students in Split, Croatia, who evaluated the acceptance of various ICT tools. Based on the obtained research results, generic strategic guidelines for the effective use of IT tools in teaching are presented, including their potential impact on accreditation criteria

Cost-benefit analysis of the ATM automatic deposit service

Bankers and other financial experts have analyzed the value of automated teller machines (ATM) in terms of growing consumer demand, rising costs of technology development, decreasing profitability and market share. This paper presents a step-by-step cost-benefit analysis of the ATM automatic deposit service. The first step is to determine user attitudes towards using ATM automatic deposit service by using the Technology Acceptance Model (TAM). The second step is to determine location priorities for ATMs that provide automatic deposit services using the Analytic Hierarchy Process (AHP) model. The results of the previous steps enable a highly efficient application of cost-benefit analysis for evaluating costs and benefits of automatic deposit services. To understand fully the proposed procedure outside of theoretical terms, a real-world application of a case study is conducted

STUDENT SUCCESS PREDICTION USING ARTIFICIAL NEURAL NETWORKS

Višegodišnja elektronička obrada podataka omogućila je pohranu velike količine podataka koja se danas može iskoristiti za poboljšanje procesa u obrazovanju putem algoritama strojnog učenja. Koristeći se podacima iz sustava Moodle za učenje na daljinu, stvoren je model umjetne neuronske mreže s ciljem predviđanja konačnog ishoda studenta na kraju studija na temelju njegovih zaključnih ocjena prve godine studija. Kroz ukupno tri modela umjetne neuronske mreže pokazana je snaga ovog algoritma, gdje su svi modeli ostvarili vrlo nisku pogrešku, a najbolji rezultati postignuti su modelom umjetne neuronske mreže s dva skrivena sloja od devet neurona, čija je apsolutna greška iznosila 0,1920, a kvadratna pogreška 0,0562. Istraživanje pokazuje da su umjetne neuronske mreže vrlo učinkovite u predikciji konačnog ishoda studenata na temelju ocjena s prve godine studija te da takvi modeli imaju potencijal postati pomoćni alat i sredstvo donošenja odluka u obrazovnim institucijama.Many years of electronic data processing have enabled the storage of a large amount of data that can be used today to improve educational processes through machine learning algorithms. Using data from the Moodle distance learning system, an artificial neural network model was created to predict the final outcome of students at the end of their studies based on their final grades of the first year of study. In three artificial neural network models, the power of this algorithm was demonstrated, where all models achieved a very low error, and the artificial neural network model achieved the best results with two hidden layers of nine neurons, whose absolute error was 0.1920, and the squared error 0.0562. The research shows that artificial neural networks are very effective in predicting the final outcome of students based on the grade from the first year of study and that such models have the potential to become an auxiliary tool and means of decision-making in educational institutions

A new approach to developing and optimizing organization strategy based on stochastic quantitative model of strategic performance

This paper presents a highly formalized approach to strategy formulation and optimization of strategic performance through proper resource allocation. A stochastic quantitative model of strategic performance (SQMSP) is used to evaluate the efficiency of the strategy developed. The SQMSP follows the theoretical notions of the balanced scorecard (BSC) and strategy map methodologies, initially developed by Kaplan and Norton. Parameters of the SQMSP are suggested to be random variables and be evaluated by experts who give two-point (optimistic and pessimistic values) and three-point (optimistic, most probable and pessimistic values) evaluations. The Monte-Carlo method is used to simulate strategic performance. Having been implemented within a computer application and applied to solve the real problem (planning of an IT-strategy at the Faculty of Economics, University of Split) the proposed approach demonstrated its high potential as a basis for development of decision support tools related to strategic planning

The analysis of behaviour dynamics simulation scenario of marine engeeners\u27 educational process

U ovom radu prema izrađenom sustavsko- dinamičkom modelu u radu "Dinamički model upravljanja edukacijskim sustavom brodostrojara", bit će predstavljani simulacijski scenariji. Simulacijskim scenarijima dan je opis strategija upravljanja, te grafički i tablični prikaz mogućih rezultata. U trećem poglavlju provedena je usporedba rezultata ponuđenih scenarija, na osnovi koje će biti donesen najpovoljniji izbor. U četvrtom poglavlju iznesene su zaključne misli.This paper deals with simulation scenarios based on model of education system of marine engineers, presented in scientific work: " Management Dynamic Model of Marine Engineers Education System". Simulation scenarios are accompanied by management politics and graph and table presentation of possible results. The third paragraph presents the results comparasion of suggested scenarios upon which the best choice will be provided. Conclusion is presented in fourth paragraph

APPLICATION OF AHP METHOD FOR THE SELECTION OF BUSINESS PLAN SOFTWARE

This study seeks to determine the importance of tools that are offered within the software (simplicity, help, etc.) and sort them according to your preferences. The results are intended for novice users in business planning. The study was carried out among students who are familiar with the possibilities of five programs for business planning. The students conducted the evaluation in accordance with each of the presented programs that were selected by experts from the problem areas. The practical importance of the results of this research is seen as a recommendation of faculties of economics in procurement of software for business planning for educational purposes. It is possible to apply the already appointed multi criteria (AHP) model to the target group with extensive entrepreneurial experience, with a change to the set of criteria weights