Goal Programming: A Modern Management Technique in Decision Making

Abstract

Managerial objectives varv according to the characteristics, types, philosophy, and particular environmental conditions of the organization. There is no single universal goal for all organizations. However, in modem times most of the business and industrial organizations do not consider profit maximization as their sole objective and goal. They are equally concerned abo market share goals, financial liquidity goals, emplovment goals, production goals etc. Besides, a wide range of social, political, economic and ethical aspects are increasingly being treated CIS goals bv organizations. Thus, modem management has multiple conflicting objectives. This multiple conflicting objectives problem cannot be solved easily by traditional mathematical Techniques. Goal programming is the 1I10st appropriate quantitative technique for solving such complex decision making problems. This paper shades light on the concept, philosophy and applicabilitv of goal programming model in managerial decision.