Business Economics

Business Economics

Wikipedia and MBA type assignments System is nothing but it is a set of components linked together to perform desired objectives which may be people , resume, concept or some physical elements so arranged that they work in a co-ordinate manner to achieve a pre defined goal.''

The term system is the most loosely held term in management literature because of its use in discrete centers. However a system may be defined as a set of elements which are joined together to achieve a common objective. The elements which are joined together to achieve a common objective. The elements are inter- related and inter-interdependent. Further, every system is said to be composed of sub-systems, which in turn are made up of other sub-systems. This may be illustrated by taking an example of a business organization (Division, Departments, units etc) are the subsystems. The set of elements for a system may be understood as Input, process and output. A system has one or multiple inputs(S) these inputs are processed through a transformation process to convert these inputs into outputs. For example in a manufacturing organization, raw material is input to a system which is processed by using various organizational Processing facilities to convert it into finished products (output). Similarly, in an information system data is input, which is processed to convert it into information. '

System is nothing but it is a set of components linked together to perform desired objectives which may be people , resume, concept or some physical elements so arranged that they work in a co-ordinate manner to achieve a pre defined goal.''

The term system is the most loosely held term in management