Describe the relationship between the external analysis i. Describe the differences between optimal structure, management control, and compensation plan for pursuing either a cost leadership strategy or a product differentiation strategy. Explain why structure, controls and compensation ought to vary with the respective strategies? Explain how each business strategy — cost leadership and product differentiation — neutralize threats from the external environment e.
Dynamic Optimization: Introduction to Optimal Control and Numerical Dynamic Programming
The course focuses on the optimal control of dynamical systems subject to constraints and uncertainty by studying analytical and computational methods leading to practical algorithms. Topics include nonlinear optimization, calculus of variations, dynamic programming, linear quadratic Gaussian control, numerical trajectory optimization, optimal estimation e. Kalman filtering, batch estimation , stochastic control. The methods and algorithms will be illustrated through implementation of various simulated examples. A class project will involve optimal control and estimation implementation using robotic systems simulated with a physics-based virtual reality environment. There are a number of good textbooks on optimal control and nonlinear optimization. The suggested primary books are especially useful since they contain almost all of course material and are good self-contained references.
Optimal control theory is a technique being used increasingly by aca- demic economists to study problems involving optimal decisions in a mul- tiperiod framework. This textbook is designed to make the difficult subject of optimal control theory accessible to economists while at the same time maintaining rigor. Economic intuition is emphasized, and examples and problem sets covering a wide range of applications in economics are pro- vided. Theorems are clearly stated, and their proofs carefully explained. The development of the text is gradual and fully integrated, beginning with simple formulations and progressing to advanced topics such as control parameters, jumps in state variables, and bounded state space.
This course introduces students to the fundamentals of the optimal control theory. Topics include: objectives and issues in controlling nonlinear systems; linear variational and adjoint equations; optimality conditions via variational calculus, maximum principle, and dynamic programming; solution methods; a short introduction to Model Predictive Control MPC. Professor Solmaz S. The main references to the material discussed in this class are from the referenced listed below.