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Importance of business mathematics in management.
Member rating: No Rating | Words: | Submitted: Mon Feb 23 2004
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Importance of business mathematics in management What is management? Management is the process of reaching organizational goals by working with and through people and other organizational resources. Or 1. It is a process or series of continuity and related activities. 2. It involves and concentrates on reaching organizational goals. 3. It reaches these goals by working with and through people and other organizational resources. What is business? An organization, which works for the purpose to earn profit. What is business mathematics? A particular problem for management is that most decisions need to be taken in the light of incomplete information. That is, not everything will be known about current business processes and very little (if anything) will be known about future situations. The technique described in "business mathematics and statistics" enable structures to be built up which helps management to alleviate this problem. The main areas included in the manual are: a) Statistical method b)...
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