Organisation, Competition and enviroment Essay Example | Topics and Well Written Essays - 1000 words

Organisation, Competition and enviroment - Essay Example The public provided services and the government policies have its own implications on the market and the organizations. It is imperative to have a holistic understanding of the economic system in order to have clarity of the production and consumption of products and services in an organization. It also helps in comprehending the various reasons that leads to competition between organizations. An economic system is a process that decides economic policies and economic activity of a society. The production, distribution and consumption of products and services largely depend on it. There are three main features of an economic system. They are capitalism, free trade and free capital transfer and national economic policy. [Holte, n. d]. Capitalism refers to the production of goods by the privately owned firms and selling those products in competition with the other private organizations selling the same products. The policy which allow investment, production, distribution and consumption of products and services in a country by other countries and vice-versa is called free trade and free capital transfer. In this case, there is larger market for products and services since the customers are world-wide. ... [Comparative economic system, n. d]. In a traditional economic system, the methodology practiced for the production and distribution of the products and services by the people is the same as followed by their ancestors. The occupation of present generation remains the same as their parents and grandparents. For instance, many of the communities whose main occupation was agriculture still practice the same to make a living. Economic systems were the individuals decide their occupation and their role as a buyer and seller is called market economic system. In this type of e system, individuals are responsible for purchasing or selling goods and services. A command economic system is the one were the organizations exist and function based on the decision of the government. This kind of economic system allows the government to make decisions about the production of goods and services. It is solely the responsibility of the government to sell goods and services. [Comparative economic syste m, n. d]. The discretion of the implementation of various types of economic system largely depends on the state. However, different people have different views about the role of a state in deciding its economic system. Metzger [2004] states that "I am not the sort who believes the State is a necessary institution at all. However, many libertarians do think that a minimal State is useful." According to Kovcs and Kemny [1999] since state has the authority in deciding its economic system, they should revise the economic policy in accordance to the requirement of the given economic environment. Kotz [2004] reports that in a democratic socialist country the strategies implemented by the state can only lead to its development. There are states were the government is the single

Management and Spurious Correlation Research Paper

Management and Spurious Correlation - Research Paper Example The term spurious is derived from the Latin origin. It is meant to mean not true or false. Management and spurious correlations are terms that are used in the field of statistics to make assumptions about certain things and calculations. When looking at the term spurious relationship, it can duly be noted that it is commonly used in statistics and in a particular way to provide certain answers. It is specifically used in particular to help in the  experimental research  techniques which would go a long way in answering some questions. Using spurious correlation in experimenting in research techniques help in the understanding and prediction of other relationships, namely direct causal relationship. An example of a direct causal relationship can be (X > Y). There is also a relationship called a non-causal correlation. A non-causal correlation may and can be created spuriously by a factor that is called an antecedent. An antecedent, for example, causes both the relationship as show n; (W > X and W > Y). Certain variables, known as intervening variables if undetected may make the indirect causations seem to look direct (Wooldridge, 2009).  An example of an intervening variable can be seen in the form of (X > W > Y). Because of the effect of indirect causations being made to look direct, correlations that have been identified through experiment are not seen to represent  relationships otherwise known as casual. This is  unless spurious relationships can be ruled out. Only then can it happen. The purpose of this essay is to bring to light the importance of management and spurious correlations as used in statistics. As the name suggests, the essence of this essay is to bring out the importance of identifying correlations before they become misleading. This topic is important because many people tend to confuse the relationship between variables and by the end of this essay, it will be clear on the methods. In order to become a statistician or a social scient ist, it is paramount that one understands that correlation be shown by being proven statistically. The purpose of this paper is to illustrate the widespread occurrence of spurious correlation (Kleinbaum & Kleinbaum, 2008).   In order to test and prove whether a correlation between two variables or constants is genuine or spurious, there are some additional variables and equations that have to be introduced in order to widen the parameters of getting legit results. There have to be sufficient assumptions being made and they must be made in order to help with the proper identification. This proper identification is of the parameters of a wider system and will help in the obtaining of results. It the results are found that the two variables, which were original, are causally related in a wider system, then the conclusion of the correlation is that it is genuine. The difference between a true and spurious correlation is that a true correlation exists and does not have to be proven whi le a spurious one needs to undergo experiments in order to be proven to be wrong. Statistical research has been affected by the identification problem, where many statisticians have been unable to conclude on where the problem is. An example of spurious corr