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Evaluation of Manager’s Performance through Stochastic Modelling

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DOI: 10.4236/ojs.2013.31007    3,949 Downloads   6,058 Views   Citations

ABSTRACT

Decision making is one of the important activities of the managerial problems. Scientific methodology for quantitative techniques is an essential tool in the contemporary decision making protocols. In this paper an attempt is made to develop a stochastic model on manager’s performance appraisal. Managerial choice among the available options for decision making is formulated to obtain the stochastic process, to derive the model and to obtain statistical measures. Numerical illustrations are provided for understanding the managerial performance and its evaluation. This study is useful to assess the abilities of an employee by his/her employer. Development of Desktop automations to this study will open a wide spectrum of dynamic Decision Support Systems.

Conflicts of Interest

The authors declare no conflicts of interest.

Cite this paper

P. Rao, "Evaluation of Manager’s Performance through Stochastic Modelling," Open Journal of Statistics, Vol. 3 No. 1, 2013, pp. 47-53. doi: 10.4236/ojs.2013.31007.

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