Business executives can use normal business distribution to create diversified asset portfolios, to calculate process variations within operations and even in human resources management to evaluate employee performance that is often considered normally distributed (ICMBA, 2002). Businesses benefits because normal distribution allows description of variables that would otherwise be considered random, and also allows a rough estimate of the actual distribution (ICMBA, 2002). Errors that usually arise using a bell curve are also often negligible and hence considered acceptable (ICMBA, 2002) thus executives can use normal distribution to solve problems with a high degree of accuracy in most cases.
References
Arsham, H. (1994). "Statistical thinking for managerial decisions." January 1994,
National Science Foundation. 1, October 2005: http://home.ubalt.edu/ntsbarsh/Business-stat/opre504.htm
http://www.wunderground.com/
Hillmer, S.C. (1996). A problem solving approach to teaching business statistics." The American Statistician, 50(3): 249.
ICMBA. (2002). "Normal distribution." NetMBA.com, Internet Center for Management and Business Administration, Inc. 30, Sept 2005: http://www.netmba.com/statistics/distribution/normal/
Waller, M.A., Dabholkar, P.A. & Gentry, J.J. (2000). "Postponement, product customization and market oriented supply chain management." Journal of Business Logistics, 29, Sept. 2005:
http://www.findarticles.com/p/articles/mi_qa3705/is_200001/ai_n8889247
Willoughby, T.L. (1996). "Standard deviation." 1, October 2005:
http://www.med.umkc.edu/tlwbiostats/variability.html
Business Statistics
Because the nature of economic and business phenomena is clearly statistical in nature and the need for a scientific approach is becoming more and more necessary, so statistical analysis has become an integral part of every aspect of theoretical and applied research. The inter-dependence of economies and the development of global markets has introduced new levels and sources of competition for the businesses. Businesses face new levels of risk as the
This means that you must continually monitor and communicate about possible changes, pertaining to the overall scope of the threat. Once this occurs, is when an entity will have an effective security procedure that will adapt to the various changes that are taking place. This is significant, because this information can be used to corroborate the overall nature of security threats that could be faced by the SME. Where, this
UltiPro is an industry leader in HCM, delivering more out-of-the-box functionality than any other provider. UltiPro's continuous HR and talent management functionality includes recruitment, onboarding, payroll, worker and manager self-service, benefits administration, compensation management, performance management and reviews, succession management, talent retention tools, time and attendance, workforce scheduling, rich reporting and analytical decision-making tools, and more. UltiPro's Web portal can serve as a company's communications center and the fundamental gateway
The existence and specialization of these three competitors materializes in the need for Creativity Sure to excel in the offering of the three types of products and services offered by challengers Karina Advertising, Falling Agency and Dorna PLC. 4.2 PEST Analysis Political forces: The development of a full legislation within the advertising field has yet to become a complete process. Recent efforts have however limited the operations of advertising campaigns in
Business Information Systems Advantages Internet Electronic Commerce The Internet has much to offer companies like FedEx and UPS. More and more businesses like FedEx and UPS are realizing the long-term advantages and benefits they stand to gain from engaging in electronic commerce. For one companies like these can handle scheduling, shipping and tracking all using the World Wide Web. E-commerce offers businesses several unique advantage, none the least of which is the
We have decided to take this option for several reasons. Firstly, the size of our restaurant will be able to entertain almost 500 people and with such a large space we need a huge market to fill it up. Secondly, Americans of all age-groups dine-out regularly (almost 4 times every week, according to last year's statistics.) thirdly and lastly, this figure is only going to increase with time. Selling tactics Contending
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now