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QUANTITATIVE MANAGEMENT

PRESPECTIVE

Javeria Nadeem BBA-C

THE THIRD MAJOR SCHOOL OF MANAGEMENT

THOUGHT

DECISION MAKING

ECONOMIC EFFECTIVENESS

MATHEMATICAL MODELS

THE QUANTITATIVE MANAGEMENT PERSPECTIVE FOCUSES ON THE

FOLLOWING:

BASICALLY, THIS PERSPECTIVE IS CONCERNED WITH APPLYING

QUANTITATIVE TECHNIQUES TO MANAGEMENT.

MANAGEMENT SCIENCE

MANAGEMENT SCIENCE FOCUSES SPECIFICALLY ON THE DEVELOPMENT OF MATHEMATICAL MODELS. A MATHEMATICAL MODEL IS A SIMPLIFIED REPRESENTATION OF A SYSTEM, PROCESS, OR RELATIONSHIP. AT ITS MOST BASIC LEVEL, MANAGEMENT SCIENCE FOCUSES ON MODELS, EQUATIONS, AND SIMILAR REPRESENTATIONS.

OPERATIONS MANAGEMENT OPERATIONS MANAGEMENT IS SOMEWHAT LESS MATHEMATICAL AND STATISTICALLY SOPHISTICATED THAN MANAGEMENT SCIENCE AND CAN BE APPLIED MORE DIRECTLY TO MANAGERIAL SITUATIONS. OPERATIONS MANAGEMENT TECHNIQUES ARE GENERALLY CONCERNED WITH HELPING THE ORGANIZATION PRODUCE ITS PRODUCTS OR SERVICES MORE EFFICIENTLY.