Difference between revisions of "Model"
| Line 9: | Line 9: | ||
According to [[Macroeconomics by Mankiw (7th edition)]], | According to [[Macroeconomics by Mankiw (7th edition)]], | ||
:[[Model]]. A simplified representation of reality, often using diagrams or equations, that shows how variables interact. | :[[Model]]. A simplified representation of reality, often using diagrams or equations, that shows how variables interact. | ||
| + | According to the [[BABOK Guide|BABOK Guide (3rd edition)]], | ||
| + | :[[Model]]. A representation and simplification of reality developed to convey information to a specific audience to support analysis, communication, and understanding. | ||
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*[[Business Modeling Quarter]]. | *[[Business Modeling Quarter]]. | ||
| − | [[Category: Septem Artes Administrativi]][[Category: Economics]][[Category: Articles]] | + | [[Category: Septem Artes Administrativi]][[Category: Economics]][[Category: Articles]][[Category: Business Analysis]] |
Revision as of 10:49, 8 July 2020
Model is an abstraction of reality, a simplified representation of some real-world phenomenon.
Definitions
According to Organizational Behavior by Robbins and Judge (17th edition),
- Model. An abstraction of reality, a simplified representation of some real-world phenomenon.
According to Principles of Economics by Timothy Taylor (3rd edition),
- Model. A simplified representation of an object or situation that includes enough of the key features to be useful.
According to Macroeconomics by Mankiw (7th edition),
- Model. A simplified representation of reality, often using diagrams or equations, that shows how variables interact.
According to the BABOK Guide (3rd edition),
- Model. A representation and simplification of reality developed to convey information to a specific audience to support analysis, communication, and understanding.
