Question
The whole is greater than the sum of the parts is
emphasised in which of the following theory of management thought?Solution
The whole is greater than the sum of the parts and that the parts or subsystems are related to each other and to the whole are emphasised in the Systems Theory states that an organization is a system consisting of a number of interdependent parts functioning as a whole for some purpose. These parts might include: inputs, a transformation process, outputs, feedback, and the environment. An organization is generally considered to be open and organic with the subpart or subsystem interacting.
If a project needs an initial investment of 25,000, calculate the payback period from the below given information
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