Linear Matrices In Business

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Matrices

Introduction: Linear equation are a series of different equations between two variables that make a straight line when they are graphed. There are many different kind of linear equations, one of them is Matrix (Matrices for plural). Matrices are a set of numbers and expressions arranged in rows and columns and are enclosed with square brackets. They can be added, subtracted and multiplied. Matrices can be used to in many different fields of work such as Engineering and even Business. They can be used to show the number of staff and employees in the work place or what two different branches are selling and how each of them are doing in terms of sales. Matrices are commonly used when we have to deal with several variables at the same
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Linear programming optimization used matrices and necessary to businesses if they want to calculate maximum revenue over a set of limits. It’s used for hydroelectric power plants for a restricted diet caloric intake optimization. Matrices are fundamental to calculus which is very important to many industrial businesses. Example 1) BCG Matrix: Coca Cola & Pepsi Cola. The matrix are misrepresenting of some cases. Example: Coca Cola and Pepsi. Coca Cola is market leader, as a result of which the relative market share of Pepsi is always smaller than…show more content…
Firstly, Matrices are useful when coordination is needed, they can be used to coordinate employees in their field of expertise and categorize them correctly in an organized manner and that will lead them into performing very well since they’ll be given tasks that are related to their major. Secondly, when using a matrices to categorize people according to their skill set, they will also be in a contact with other people that share the same field and that will help in better communication and team work between them but also they’d be able to differentiate which employee main field of focus so if any employee needs assistance in something that might not necessary tie to their major, they’ll have the ability to ask a colleague for help thus leading to work being done more efficiently and effectively. Additionally, It can also help managers differentiate between talented and hard-working employees by observing them and making a matrix structure according to that and hence be able to promote employees that actually deserve it and will help the company grow in a better manner. However, on the other side of the coin, Matrices also has its fair share of disadvantages, To begin with, It might cause psychological stress on the employees. In a matrix structure, Employees are put into teams and sometimes, conflict might happen between team members that’ll cause dysfunction in the entire

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