Quantitative, Contemporary and Emerging views of Management

Quantitative Approach:-

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

Contemporary viewpoints:
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.

Contingency Theory:-
It is the view that appropriate managerial action depends on the particular parameters of each situation.

Emerging views:
A. Globalization.:-
Managers in all types and sizes of organizations are faced with the opportunities and challenges of globalization.

B. Entrepreneurship:-
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)

D. Need for Innovation and Flexibility.

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.