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Quantitative Perspective

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THE QUANTITATIVE PERSPECTIVE

Management science

Management science focuses specifically on the development of mathematical models. These models help organizations to try out various activities with the use of a computer. Modeling can help managers locate the best way to do things and save money and time.

Operations management

Operations management is an applied form of management science that helps organizations develop techniques to produce their products and services more efficiently.

Contributions

  • Developed sophisticated quantitative techniques to assist in decision making.
  • Models have increased our awareness of complex organizational processes and has aided in the planning and controlling processes.

Limitations

  • Cannot fully explain or predict behavior of people.
  • Mathematical sophisticalion may come at the expense of other important skills.
  • Models may require unrealistic or unfounded assumptions.

 REFERENCE:
          www.ee.uwa.edu.au/~ccroft/em333/leca02.html - 12k