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Systems Management TheoryNovember 3, 2022
Systems management theory is a foundational approach to management that views the organization as an open system made up of interrelated and interdependent parts that interact as sub-systems. This approach differs from … Continue reading Systems Management Theory
Theory of Purchasing Power ParityOctober 15, 2022
To compare economic productivity and standards of living between countries, economists use an analysis metric called the Purchasing Power Parity that allows them to compare different countries’ currencies through a “basket of … Continue reading Theory of Purchasing Power Parity
Tragedy Of The CommonsJuly 27, 2022
People living in groups(societies) and sharing resources(commons) could either act according to their self-interests or seek the common good. This idea was first discussed in a pamphlet published in 1883 by the … Continue reading Tragedy Of The Commons