Topic

Quantitative Approach
 Presenters

Hina Mehak(025446)

Sana Rafique(025450)
 Summary
 Introduction to Quantitative Approach
 History of Quantitative Approach
 How do today's managers use the Quantitative Approach
 Branches of Quantitative Approach
 Features of Quantitative Approach
 Limitations of Quantitative Approach
 Conclusion
 Definition of Approach

 It is the act of getting close to way , path ,road.

 A set of assumptions dealing with the nature of language,
learning and teaching.
 Approach has to be decided before selecting the method.

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 Types of Approach
There are four main types of approaches.

 Classical Approach
 Behavioral Approach
 Quantitative Approach
 Contemporary Approach
 History
 During WWII, mathematicians ,physicists and other
scientists joined together to solve military problems.
 The quantitative school of management is a result of the

research conducted during World War II.

 Quantitative Approach

Also called operations research or management science.

“The quantitative approach to management involves the use of
quantitative techniques, such as statistics ,information models
computer simulations, to improve decision making.....Today,
this view encourages managers to use mathematics,
statistics and other quantitative techniques to make
management decisions.”
 How do today's managers use the
Quantitative Approach
 The quantitative approach has contributed directly to
management decision making in the areas of planning
and control.
 When managers make budgeting, scheduling ,quality
control and similar decisions they typically relay on
quantitative techniques.
 Branches of Quantitative Approach
There are three main branches of Quantitative Approach:
 Management Science
 Operations Management
 Management Information System(MIS)
 Management science
 Management science is a problem solving process and the study
of Management Information System(MIS).
 Management science helps in discovering,developing,defining
and evaluating the gaols of the organization.
 Management science is the application of the scientific method to
the study of the operations of large and complex organizations or
activities.
 Operations Management
 Operations management is the narrow branch of quantitative
approach to management.
 Operations management pays close attention to the demands of
quality,customer service and competition.
 This process begins with attention to the needs of customers:
 What do they want?
 Where do they want it?
 When do they want it?
 Based on the answers of these questions,managers line up
resources and take any action necessary to meet customer
expectations.
 Management Information System

 MIS is the computerized information, to be used by the

managers, for the storing ,operating and designing the
information.
 MIS can be in the form of tables or reports with numeric values.
 Reports can be paper format or electronic format.
 Electronic reports mostly used because it can be updated.
 MIS provide real time information with customer reports,customer
complaints and customer requirements.
 Features of Quantitative Approach
 Management is concerned with problem solving and must use
mathematical tools to solve them.
 Mathematical model can be developed by quantifying various
variables of the problems.
 Mathematics symbols can be used to describe managerial
problems.
 Limitations of Quantitative
Approach
 This approach does not give any weightage to human elements
which is very important in every organization.
 In practical life managers have to take quick decisions without
waiting for full information and developing of models.
 The data avilable in the business may not always be up to date.
Conclusion
Thank You
Any Question?