In most of the decision-making situations faced by the strategy makers, a series of alternatives is available. Each alternative has some consequence depending on the occurrence or non-occurrence of some future variable or condition. These future variables or conditions (states of nature) may be anything like the action of a competitor, the state of the economy, the state of the [...]
In this article we will discuss about:- 1. Concept of Simulation 2. Simulation Methodology 3. Procedural Steps in Simulation Analysis 4. Merits 5. Demerits 6. Models. Concept of Simulation: For many years, war games have been used as a means of training human resources and testing plans and equipment under field conditions. The process of obtaining the essential qualities of [...]
Strategic Management: It’s Characteristics, Formulation, Types and Other Details! Strategic management has now become invincible. It involves creating organizations which generate value even in turbulent environment over a sustained period of time. Image Courtesy: ecliparts.com […]
