Optimization of Entrepreneurship by the Application of Linear Programming Technique

Abstract

This study tries to factor O.R (optimization) into entrepreneurship for the purpose of profit maximization. Primary data from an entrepreneur was collected. The data analysis, optimization application software (TORA) was used. The optimal solution were X₂ (moccasin) = 9.09 and X₃ (Italian) = 6.36 for a profit of Z_max = N2836.36 and it was concluded that the entrepreneur (shoe producer) should produce 9.09 units of moccasin and 6.36 units of Italian shoes for a daily profit of N2836.36 and that they should not produce X₂ (paddock) and X₄ (cover front) types of shoes in the face of the constraints posed by the operating environment.

Keywords: Entrepreneur, optimization, profit maximization.