UNIT 2 THEOREMS Structure 2.1 Introduction Objectives PROBABILITY 2.2 Some Elementary Theorems 2.3 General Addition Rule 2.4 Conditional Probability and Independence 2.4.1 Conditional Probability 2.4.2 Independent Events and MultiplicationRule 2.4.3 Theorem of Total Probability and Bayes Theorem 2.5 Summary 2.1 INTRODUCTION You have already learnt about probability axioms and ways to evaluate probability of events in some simple cases. In this unit‚ we discuss ways to evaluate
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Fayol and Mintzberg The aim of this project is to highlight what management is all about. Management is a vague term which many theorists have different interpretation. It has become an important part of our society and also in our daily activities. Based on my research‚ management is the process of getting activities completed efficiently and effectively with and through people. In this essay‚ I will be comparing and contrasting the views of management with two profound theorists‚ Fayol and Mintzberg
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as POLC: Planning‚ Organizing‚ Leading‚ and Controlling. However‚ in the late 1960’s‚ Henry Mintzberg undertook a careful study of 5 executives to determine what these managers did on their jobs. In Mintzberg’s framework‚ a manager consists of 3 roles: informational roles‚ interpersonal roles‚ and decisional roles. Throughout this essay‚ the structure will be first about discussion of Fayol and Mintzberg theories in management‚ then‚ their comparison and contrast relating functional and process approaches
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pressure dynamics specified by Bernoulli’s Principle to keep their rare wheels on the ground‚ even while zooming off at high speed. It is successfully employed in mechanism like the carburetor and the atomizer. The study focuses on Bernoulli’s Theorem in Fluid Application. A fluid is any substance which when acted upon by a shear force‚ however small‚ cause a continuous or unlimited deformation‚ but at a rate proportional to the applied force. As a matter of fact‚ if a fluid is moving horizontally
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many different views about management has been appearing such as Fayol’s function theory (1949) which based on his owe managing experience and Mintzberg’s 10 roles theory (1973) which came from observing five chief-executive officers. Furthermore‚ Mintzberg regarded Fayol’s theory as “folklore”. It seems that Fayol’s theory has been made redundant by Mintzberg’s study. The purpose of this paper‚ however‚ is to present that Fayol’s administrative theory still has a practical significance and has not
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Is the work of modern day management still comparable to the ideas‚ and structures created by management theorists of the past? Management functions‚ roles‚ and skills‚ have been labelled as the three distinctive categories to aid the job description of managers (Robbins‚ Bergman‚ Stagg & Coulter‚ 2006). The purpose of this essay is to identify the work that is required from a manager of today‚ and evaluate the comparisons with the characterisations created by past management researchers‚ and their
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an organization has to be made up of quality people. It also has to be structured in such a way as to promote success. Successful businesses today are based on structural archetypes that were products of the work of Henry Mintzberg‚ a renowned management theorist. Henry Mintzberg graduated from McGill University and has written 15 books and about 150 articles all dealing with organizational structure. According to him‚ an organization ’s structure comes from its strategy‚ the environmental forces
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The Coase Theorem In “The Problem of Social Cost‚” Ronald Coase introduced a different way of thinking about externalities‚ private property rights and government intervention. The student will briefly discuss how the Coase Theorem‚ as it would later become known‚ provides an alternative to government regulation and provision of services and the importance of private property in his theorem. In his book The Economics of Welfare‚ Arthur C. Pigou‚ a British economist‚ asserted that the existence
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Thevenin Theorem It provides a mathematical technique for replacing for a given network‚ as viewed from two output terminals by a single voltage source with a series resistance. It makes the solution of complicated networks (particularly‚ electronic networks) quite quick and easy. The Thevenin’s theorem‚ as applied to d.c. circuits‚ may be stated as under: The current flowing through a load resistance RL connected across any two terminals A and B of a linear‚ active bilateral network is given
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Organizational Dynamics‚ Vol. 36‚ No. 4‚ pp. 329–344‚ 2007 ß 2007 Elsevier Inc. All rights reserved. www.organizational-dynamics.com ISSN 0090-2616/$ – see frontmatter doi:10.1016/j.orgdyn.2007.06.001 What is the Right Organization Design? N. ANAND INTRODUCTION A start-up company in Florida‚ called World Response Group (WRG)‚ developed an unusual woven mat for the horticulture industry that was made from all-natural fibers. Horticulture growers in the U.S. produce hundreds of millions
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