TITLE:
Evaluation of Manager’s Performance through Stochastic Modelling
AUTHORS:
P. Tirupathi Rao
KEYWORDS:
Stochastic Modelling; Manager’s Performance; Management Decision Making
JOURNAL NAME:
Open Journal of Statistics,
Vol.3 No.1,
February
26,
2013
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.