Concept of Duality
The Duality in Linear Programming states that every linear programming problem has another linear programming problem related to it and thus can be derived from it. The original linear programming problem is […]
Solution of LP Problem with the help of graphical and Simplex Method
The Graphical Method (graphic solving) is an excellent alternative for the representation and solving of Linear Programming models that have two decision variables. Exercise #1: A workshop has three (3) types of machines A, […]
Formulation of Linear Programming Model
Maximization Case Let’s understand the maximization case with the help of a problem. Suppose a firm produces two products A and B. For producing the each unit of product A, […]
Linear Programming Meaning and Assumption
The Linear Programming problem is formulated to determine the optimum solution by selecting the best alternative from the set of feasible alternatives available to the decision maker. Assumptions of Linear programming There […]
Application of Probability Theory in Business Decision Making
Most every business decision you make relates to some aspect of probability. While your focus is on formulas and statistical calculations used to define probability, underneath these lie basic concepts […]
Probability Distribution: Binominal Poisson, Normal Distribution
Probability Distributions Probability theory is the foundation for statistical inference. A probability distribution is a device for indicating the values that a random variable may have. There are two categories […]
Baye’s Rule
Bayes’ theorem is a way to figure out conditional probability. Conditional probability is the probability of an event happening, given that it has some relationship to one or more other events. […]
Addition and Multiplication Theorems
Addition theorem on probability: If A and B are any two events then the probability of happening of at least one of the events is defined as P(AUB) = P(A) […]
Conditional Probability
Many events associated to the real experiments, specifically related to civil engineering, have some dependency on the other events associated to the same experiment. In that case the occurrence of […]
Probability Meaning and Approaches of Probability Theory
In our day to day life the “probability” or “chance” is very commonly used term. Sometimes, we use to say “Probably it may rain tomorrow”, “Probably Mr. X may come […]
Cross Cultural Organization Behaviour
Cross culture often refers to a company’s initiatives to increase understanding of different groups. Understanding leads to stronger more productive communication and marketing aims to reach clients outside of the […]
Organizational Change and Development
Organizational change can be defined as the alteration in structure, technology or people in an organization or behavior by an organization. Here we need to note that change in organizational […]
Organizational Culture and Climate
Organizational culture can be defined as the group norms, values, beliefs and assumptions practiced in an organization. It brings stability and control within the firm. The organization is more stable […]
Organizational Design and Structure
Every organization has a hierarchy of people and job functions whether it is organic or intentional. For a business to operate efficiently and systematically, it needs a planned structure that fits the […]
Transactional Analysis
Transactional analysis, a theory that combines elements of psychology into a therapeutic approach, can benefit a workplace. In an organization, people need better communication to break down barriers between managers […]
Interpersonal Behaviour and Relations
Concept of Individual Behavior in OB Organization is composed of different people with different behavior. From the birth of a child, he/she is unique in characters; each member of the […]
