The first business example I will use is a very familiar one: the application of calculus in hiring a lawyer. You might not have taken a Calculus class back when you were in high school, but you’ve probably seen the movies or TV shows based on them at least a few times. In any case, the character who runs the local law firm ends up needing to hire someone to take the bar exam. Without knowing Calculus, they choose an undergraduate who is a poor “student” of the subject who cannot understand Calculus concepts. Thus, the hired individual ends up failing the exam and losing his ability to practice law.
Of course, this is a little extreme. Sometimes you don’t need to hire someone in order to apply Calculus in business. However, it often serves to illustrate the point that the concepts of Calculus are necessary to successful business operations. And for anyone preparing for a Calculus exam, a review of the following examples should make it clear why it is necessary to understand Calculus concepts.
One of the most common uses of Calculus in business is in the examination process of hiring employees. If you want to hire someone to work for your company, you’ll need to pass the company’s mandatory hiring requirements. The reasoning behind this is simple: if the person you’re looking for cannot successfully complete the Calculus coursework required for the job, you risk the company is laying off its most productive employee, or worse, firing the person.
Another well-known application of Calculus in real life is in the areas of project management. It is important for project managers to be able to visualise the end results of their actions. Thus, a Calculus example is necessary to demonstrate how to calculate the cost of a particular project from its inception to completion. Needless to say, this requires a thorough understanding of both measuring tools and Calculus itself.
Businessmen also use Calculus in their efforts to expand their firms. For example, if you are planning to open a new shop, you have to know whether the local market is saturated with similar shops. You may need to implement some strategies to counter such a problem. A Calculus example can illustrate such a situation and help the business owner find answers to such questions.
Of course, a lot of business owners apply Calculus to their own lives. They may use it to beat financial hurdles, or to plan for unexpected expenses. Thus, a Calculus example can be used to demonstrate how to come up with good solutions to financial problems, for example. The demonstration thus makes the solution more plausible, as the problem would not have been so bad in the first place.
The applications of calculus in real life examples are just some of the many that can be found by doing a little search on the internet. Indeed, there is really no limit what you can do when you employ Calculus into your everyday life. It only takes a little creativity and ingenuity.
