In general, the forces of competition are imposing a need for more effective decision making at all levels in organizations. Progressive Approach to Modeling: Modeling for decision making involves two distinct parties, one is the decision-maker and the other is the model-builder known as the analyst.
Entropy-the measure of uncertainty in a system. In the case of a two-headed coin, there can be neither any freedom of choice nor any reduction in uncertainty so long as the destination knows exactly what the outcome must be.
In other words, the value of a specific bit of information depends on the probability that it will occur. In general, the informative value of an item in a message decreases in exact proportion to the likelihood of its occurrence.
Redundancy-the degree to which information is not unique in the system. Perfect redundancy is equal to total repetition and Classical management found in pure form only in machines.
In human beings, the very act of repetition changes, in some minute way, the meaning or the message and the larger social significance of the event. Zero redundancy creates sheer unpredictability, for there is no way of knowing what items in a sequence will come next. As a rule, no message can reach maximum efficiency unless it contains a balance between the unexpected and the predictable, between what the receiver must have underscored to acquire understanding and what can be deleted as extraneous.
Noise-the measure of information not related to the message. In electrical apparatus noise comes only from within the system, whereas in human activity it may occur quite apart from the act of transmission and reception.
Interference may result, for example, from background noise in the immediate surroundings, from noisy channels a crackling microphonefrom the organization and semantic aspects of the message syntactical and semantical noiseor from psychological interference with encoding and decoding. Noise need not be considered a detriment unless it produces a significant interference with the reception of the message.
Even when the disturbance is substantial, the strength of the signal or the rate of redundancy may be increased to restore efficiency. Channel Capacity-the measure of the maximum amount of information a channel can carry.
Suppose you wanted to know where a given checker was located on a checkerboard. If you start by asking if it is located in the first black square at the extreme left of the second row from the top and find the answer to be no, sixty-three possibilities remain-a high level of uncertainty.
On the other hand, if you first ask whether it falls on any square at the top half of the board, the alternative will be reduced by half regardless of the answer. By following the first strategy it could be necessary to ask up to sixty-three questions inefficient indeed!
Provided an influential yet counter-intuitive definition of communication. From Littlejohn, Stephen W. Theories of Human Communication. Wadsworth,p Information is a measure of uncertainty, or entropy, in a situation.
The greater the uncertainty, the more the information. As used by the information theorist, the concept does not refer to a message, facts, or meaning. We have said that information is the amount of uncertainty in the situation.
For example, your friend is about to flip a coin. Will it land heads up or tails up? You are uncertain, you cannot predict. This uncertainty, which results from the entropy in the situation, will be eliminated by seeing the result of the flip.
In other words, you could not receive any message that would make you predict any better than you already have. University of Illinois Press, For a number of excellent brief secondary sources, see the bibliography.A conceptual model of communication.
(Reprinted with permission from Westley and MacLean, Jr., ) (a) Objects of orientation (X 1 X) in the sensory field of the receiver (B) are transmitted directly to him in abstracted form (XZ X 3) after a process of selection from among all Xs, such selection being based at least in part on the needs and problems of B.
Introduced in the late 19th century, the classical management approach to business addresses many issues in industrial management. The approach generally focuses on specialization and efficiency. The approach also places an emphasis on higher quality, cost reduction and better management and worker.
A simple presentation about the classical approach of Management. The Music Broadcasting Society of S.A. provides FM transmission of fine classic and jazz music across the Adelaide metropolitan area.
Being community supported radio, 5mbs is totally run by volunteers. Ole Edvard Antonsen Trumpet Wolfgang Plagge Piano, Composition Annar Follesø Violin Julie Yuquing Ye Piano Kjell Seim Conductor Paul .
Journal of Risk and Financial Management (ISSN ; ISSN for printed edition) is an international peer-reviewed open access journal on risk and financial management. JRFM was formerly edited by Prof. Dr. Raymond A.K. Cox and published by Prof. Dr. Alan Wong online in one yearly volume from until end Since October , it is published quarterly and online by MDPI.