After reading this article you will learn about:- 1. Types of Mathematical Models 2. Structure of Mathematical Models 3. Characteristics 4. Advantages 5. Disadvantages. Types of Mathematical Models: Models may be classified as: (1) Iconic (Sale) Model: An iconic model is a physical replica of a system usually based on a different scale than the original. These may appear in [...]
The different types of business ownership are:- 1. Single Ownership (Private Undertaking). 2. Partnership. 3. Joint Stock Company 4. Cooperative Organisation (Or Societies) 5. Public Sector 6. Private Sector. Type # 1. Single Ownership: Ownership when applied to an industrial enterprise means title to and possession of the assets of the enterprise, the power to determine the policies of operation, [...]
After reading this article you will learn about:- 1. Introduction to Scientific Management 2. Opposition to Scientific Management 3. Basic Approach. Introduction to Scientific Management: The early decades of this century witnessed the emergence of Scientific Management. This school of thought attempted to introduce a rational, systematic approach to work and to the management of work. In his early writings [...]