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Types of Models in Business and Beyond by QTKD-2K-18 La Thanh Thuy is a document available to read on EtoBox.

What is Types of Models in Business and Beyond about?

This document discusses modeling and its uses in business. It covers: 1) Types of models including mental, visual, physical, and mathematic models. Models are used in business for one-time decisions, decision support, and being embedded. 2) Characteristics of models including being simple, selecting only relevant details, and being flexible. Models are also less costly than reality. 3) Limitations include oversimplifying factors and model owners refusing to acknowledge limitations compared to reality.

Author

QTKD-2K-18 La Thanh Thuy

Language

EN