It involves the use of quantitative techniques to improve decision making.
Branches in the Quantitative Management Viewpoint:
1. Management science / operations research:-
It is an approach aimed at increasing decision effectiveness through the use of complicated mathematical models and statistical methods.
2. Operations Management:-
It is the function or field of expertise that is primarily responsible for the production and delivery of an organization’s products and services.
3. Management information systems (MIS):-
It is the name often given to the field of management that
focuses on designing and implementing computer-based information systems for use by management
This school of thought or view point about management includes those major ideas about managing and organizations that have emerged since the 1950s.
The systems theory approach:-
It is based on the idea that organizations can be visualized as systems of interrelated parts or subsystems that operate as a whole in search of common goals.
It is the view that appropriate managerial action depends on the particular parameters of each situation.
Managers in all types and sizes of organizations are faced with the opportunities and challenges of globalization.
It refers to the process whereby an individual or a group of individuals uses organized efforts and means to pursue opportunities to create value and grow by fulfilling wants and needs through innovation and uniqueness.
C. Managing in an E-Business World:-
1. E-business (electronic business)
2. E-commerce (electronic commerce)
E. Quality Management Systems.
1. Total quality management:-
It is a philosophy of management that is driven by customer needs and expectations and focuses on continual improvement in work processes
F. Learning Organizations and Knowledge Management.
1. A learning organization is one that has developed the capacity to continuously adapt and change.
2. Knowledge management involves cultivating a learning culture where organizational members systematically gather knowledge and share it with others to achieve better performance.
G. Theory Z : William Ouchi’s:-
Theory Z combines positive aspects of American and Japanese management into a modified approach aimed at increasing managerial effectiveness.