Description
The industry in which I work is financial consulting which includes working for big corporation clients (FinTechs or financial institutions) and completing work cases in a timely fashion. The shortest route linear programming model can be used to improve delays in the production of cases and the fixation of the number of employees required to execute production spikes and completion. The shortest route linear programming model can be helpful in evaluating the exact number of employees that are required for a spike in production and the timeframe for completion of the cases as well. This will allow for better time management and understanding of what cases take the most time and therefore require more employees for timely completion. In the end, the company will benefit from increased productivity and satisfied customers which will lead to an increase in profit (Anderson, et al. 2016).
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Moral hazard is a situation in which one party engages in risky behavior or fails to act in good faith because it knows the other party bears the economic consequences of their behavior. This occurs sometimes when a person acts with benefits for only him/herself and does not take into account what could happen to the rest of the company. This not only happens in small companies but has also occurred within large companies with the employees knowing and has led to major consequences that are later exposed and come to life. By that time, all the negative consequences are usually too late to solve or fix and companies just have to move on and continue with what they are doing. An example I witnessed was when my cousin went to buy a brand new car and was promised all these features and deductions that were later removed and hidden from the written contract without my cousins knowledge and it happened to be too late to fix. When my cousin went to review the contract after already signing it, the things stated were revised and re worded differently but the deal was already done. So, he was no longer able to get the initial deal nor the features he had asked for.
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Explanation & Answer
View attached explanation and answer. Let me know if you have any questions.
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Fantastic work. I enjoyed reading your work, which was well presented. I concur that
using the shortest path linear programming approach can reduce case production delays and
det...
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