MBA assignments annamalai university

4602 Words Jan 27th, 2014 19 Pages
Let the event X = selected at company X and the event Y = selected at company Y. This means that X' = rejected at X and Y' = rejected at Y. Here the prime notation means the "complement of". From the information given, we have

P(X) = 0.7
P(Y') = 0.5

from which

P(X') = 0.3
P(Y) = 0.5.

using P(X) = 1 - P(X'), etc.

As stated, we want the probability of the event X∪Y = union of events X and Y = either X or Y, or both, happens (one or the other or both of the applications being selected). In other words, we want P(X∪Y), which can be written, using the axioms of probability theory, as

P(X∪Y) = P(X) + P(Y) - P(X∩Y) where the ∩ symbol means the "intersection of" or, in other words, both X and Y happen. So now we need to calculate P(X∩Y).
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Under centralization, the important and key decisions are taken by the top management and the other levels are into implementations as per the directions of top level. For example, in a business concern, the father & son being the owners decide about the important matters and all the rest of functions like product, finance, marketing, personnel, are carried out by the department heads and they have to act as per instruction and orders of the two people. Therefore in this case, decision making power remain in the hands of father & son.
On the other hand, Decentralization is a systematic delegation of authority at all levels of management and in all of the organization. In a decentralization concern, authority in retained by the top management for taking major decisions and framing policies concerning the whole concern. Rest of the authority may be delegated to the middle level and lower level of management.
The degree of centralization and decentralization will depend upon the amount of authority delegated to the lowest level. Acco “Decentralization refers to the systematic effort to delegate to the lowest level of authority except that which can be controlled and exercised at central points.
Decentralization is not the same as delegation. In fact, decentralization is all extension of delegation. Decentralization pattern is wider is scope and the authorities are diffused to the lowest most level of management. Delegation of authority is a complete process