In this article we will discuss about the concepts of heuristic model and heuristic programming used in managerial decision making. Heuristic Model: The term 'heuristic' means serving to discover or to stimulate investigation, in a literary sense. In its technical sense, heuristic is frequently associated with the simulation of human problem-solving techniques by means of computers. Heuristic model refers to [...]
In this article we will discuss about the meaning and determination of market share of a company. Meaning of Market Share: Market share is the percentage of a business's sales relative to the combined sales of all competitors in a given market. By achieving a large share of the market in which it competes, a business firm can gain important [...]
After reading this article you will learn about:- 1. Meaning and Definition of Company 2. Characteristics of Company 3. Kinds. Meaning and Definition of Company: Literary meaning of the word 'company' is an association of persons formed for common object. A company is a voluntary association of persons recognised by law, having a distinctive name and common seal, formed to [...]