The production manager of a company received the complaint that the quality of the goods was not good. After investigation, it come to light that the machines had become very old.
That is why, they were unable to achieve standardised quality. The production manager developed several options by way of solution to this problem. Example, getting the machines repaired, purchasing new local machines, purchasing new imported machines, if possible taking machines on rent, etc. The CEO of the company wanted the list of options to be smaller, so that a thorough study could be made for them, in order to make the list of optional ways smaller, he decided to give up all those optins which required the investment of more than Rs. 10 crores.
(a) Identify the concept described in the paragraph given above.
What do you understand from the fact of company fixing the maximum investment limit on options?
