Probability

 There are many conditions organisation face. These conditions are normal, certainty, uncertainty and probability. Every condition is important for organisation because organisation use to catch the condition of environment by effective way and achieve their goal. Among all probability is also an important condition of market and organisation possess, implement, execute their policy to achive the  situation by effective way and achieve their goal.

The process in which organisation imagines the coming situation by an imaginary way and make them ready to do better in this condition. This process is called probability.

In other words we can say that the process in which organisation imagines the coming situation of economy, environment by an innovative way and make policy, programmes, rules, regulation, law to do better in this condition. This process is called probability.

Nature of probability:

1. It is a part of economy 

2. It is a part of market.

3. It is a natural condition of environment.

4. It rarely happens.

5. It may be universal.

6. It is natural or mannual.

7. It is positive or negative.

8. It is artificial or natural.

9. It is short term or long term.