Professional Documents
Culture Documents
MANAGEMENT
SCIENCE
• PHYSICAL MODEL
• SCALE MODEL
• SCHEMATIC MODEL
• MATHEMATICAL MODEL
GATHERING
QUANTITATIVE
DATA
The two important factors that
must be considered in the
collection of quantitative data
are the accuracy of the data
and the reliability of the
source.
FINDING THE
OPTIMAL
SOLUTION
• ALGORITHM
• COMPLETE
ENUMERATION
CHECKING THE
RESULTS
Statistical measures may be
adopted to check the
appropriateness of the
model, the results, and the
reliability of the results
ANALYZING AND
EVALUATING THE
FINDINGS
• Analysis involves the breaking
of the entire quantitative
approach into several parts to
identify the proper
information needed in
drawing a managerial decision
• Evaluating the results refers to
making judgements, based on a
particular criterion or standard,
whether or not to proceed with
t h e fi n d i n g s
IMPLEMENTING
THE FINDINGS
• This happens when the
management has
understood the underlying
concepts of the approach
conducted and is fully
convince of the likelihood
that the quantitative
fi n d i n g s w i l l p r o v i d e
fi n a n c i a l b e n e fi t s t o t h e
LIMITATIONS OF
MANAGEMENT
1 . T h e m e m b eSCIENCE
rs of management may have
contradicting perspective regarding a
problem, which could lead to resistance.
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