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Exploring the applicability of power law in management theories and practice

  • Unique Paper ID: 167421
  • Volume: 11
  • Issue: 3
  • PageNo: 1034-1041
  • Abstract:
  • Power law or Scale-free distributions are widespread distributions. Power laws have two features that make them strikingly different from normal-type distributions. First unlike a normal distribution power law does not have to peak at its average value. Second, the rate at which power law decays is much slower than the decay rate of normal distribution. The key characteristic of a power law distribution is a quantity called exponent, which in essence describes how the distribution changes as a function of the underlying distribution. Many Real-life functions follow this distribution. Particular it is evident in wealth and success, the rich always seem to get richer. Military an organization that reflects the power of a nation seems to follow this distribution in multiple facets. Several interesting power law graphs concerning the world wide weapon industry are analysed in this paper. Further multiple usages where power law can be used by Armed forces are also discussed. The study aims to provide an insight into the power law applications by the Armed forces worldwide.
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  • ISSN: 2349-6002
  • Volume: 11
  • Issue: 3
  • PageNo: 1034-1041

Exploring the applicability of power law in management theories and practice

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