Business Analytics for the Entrepreneurial Toolkit
August 17, 2015: 6:15 PM - 9:00 PM
Discussion of optimizing decisions using straightforward quantitative tools across a range of typical business situations.
Illinois Institute of Technology
201 East Loop Road
Entrepreneurship can be an all-encompassing vocation, time and resource constrained with no shortage of existential business choices. Flexibly applying proven rules of thumb is a common response to cope. While that can keep one in the game, it seems more prone to satisfice than maximize especially for the continuous, multi-period competition that operating a going concern amounts to. And that may make even knowing the absolute best for a situation elusive, let alone having any realistic prospects to attain it.
Our speaker, Linus Schrage, Professor Emeritus, Chicago Booth, is a longtime Booth faculty member specializing in operations management, comes with a wealth on insights from both his research and consulting of the practical uses of mathematical optimization across many industries from finance and manufacturing to transportation. It has been said, "if you cannot measure it, you cannot manage it". So we'll look at the flip side of "measuring it to manage it" by using the right tools, with the talk to show how informed modeling focuses the most valuable asset of management attention for sustained competitive advantage.
Chcago Booth alumni, faculty and students and Entrepreneurial Roundtable members: $15 to August 12, and then $20.
General Public: $20 to August 12, and then $25.
• No credit cards at the door, only cash and checks.
• Dress is business casual.
Linus Schrage (Speaker)
Professor Emeritus, Chicago Booth
Professor Schrage has published widely on and won multiple awards for the applications of operations research and is an expert on business planning models. His research addresses common management challenges from supply chain and inventory management to queuing and productions and scheduling. The co-creator of the LINDO, LINGO and What's Best! optimization software, he is a Fellow of INFORMS Society (winning its 2012 Impact Prize for breadth of contributions) and a MSOM Distinguished Fellow. He previously taught at Stanford U., worked at NASA, and has been a visiting professor at multiple universities globally. He earned his PhD in operations research and industrial engineering from Cornell University.
Greg Gocek, '85