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Application of Qualitative and Quantitative techniques in management decision making process

By CorporatewebStudios Subscribe to RSS | March 28th 2012 | Views:

Over the period of time there is a debate that whether qualitative or qualitative techniques are equally helpful for management decision making processes or not. Quantitative analysis generally comes to a conclusion with the help of mathematical techniques whereas qualitative techniques depend upon the behavioral factor of human being to take a decision. It can be said that the qualitative technique generally depends upon the mangers or leader’s experience and judgment. In order to solve the problem and come to a decision it also depends upon the interpersonal and conceptual ability of the manager. This technique is more taken as an art rather than the science because it gives over emphasis on someone’s intuition. When the problems are complex in nature or the manager has little experience in that particular domain then it would be difficult to rely on qualitative techniques. Even in case of strategic decision making this technique will be risky to bank on.

On the other hand, a quantitative analysis provides solution with the help of data, facts or use tools and techniques which will be applicable for the problem. In the case quantitative techniques manager’s technical or educational knowledge can help in the implementation of the process but it does not depend upon his intuitions. The main aim of the manager is to apply the right kind of quantitative technique which will describe constrains, objectives and other factors existing in the problem. The main strength of the mathematical technique is that it has supportive data for their solution. The education or technical knowledge help in increasing decision making capabilities and hence implementation of the techniques will be better. A knowledgeable manager is always in a better position with respect to the task of evaluation or comparison. He combines both the process and sometimes come up with a logical solution through optimization. Sometimes behavioral problem arises in the organization because it deals with different sets of people like, upper and middle level management, staff groups, subordinates, task forces, direct or indirect supports groups and sometime public official. In this scenario, qualitative management technique helps in increasing administration capacity and significantly contributes with respect to decision making.

Finally with respect to familiarity and number of past usage, the three techniques from both the quantitative and qualitative that have been identified are

(a) Qualitative Techniques: Checklist, Brainstorming and Management by Objectives, and (b)Quantitative Techniques: Benchmarking, Cost-BenefitAnalysis andForecasting through

(b) Regression Analysis.

Four other techniques from the both the fields have also been identified who were found to below with respect to of usage and familiarity.

a. Quantitative Techniques: Management Information System, Theory X and Theory Y, Nominal Group Techniques, Job enhancement/ Job enrichment

b. Qualitative Techniques: Simulation techniques, statistical significance testing, Linear programming and lastly Total Quality Management

Both the quantitative and qualitative techniques have their own advantages and disadvantages. Both have their contribution in the decision making process of the management. The best possible result will be achieved through the combine implication of both the process. In some cases qualitative technique helps to identify the root cause of the problem, like behavioral problem of the employees. Where as in case strategic decision where management depends not only on intuition but also facts and figures, the applicability of the quantitative technique is more. It can be concluded that the best result will be achieved through the proper implementation of both the techniques.

CorporatewebStudios - About Author:
Annette is also a student and a part time author. She loves to read books, and when she is not reading she is generally writing. assignments help She is also loves the rains and at other times dreams about chocolates. For more information :- assignments help

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