Question

If the manager’s job is to solve problems, how might the two quantitative approaches help?

Answer 1

If the manager’s job is to solve problems, how might the two quantitative approaches help? There are two quantitative approaches, all these can help Manager to solve day to day problem those are stated below: Management Science: Management problem can be solved using Management science, it is basically based on using Mathematical Analysis, it does scientific analysis and research to solve the problem, issues applicable in the organization and help to resolve out the concerns of managers, subjects like Operations, Business strategy, supply chain management, Product development and simulations, etc, are covered with this Quantitative approach – Management Science, Next quantitative approach is using Operations management, we can manage various repetitive tasks, we will be able to manage various operational activities like production, delivery, supply chain activities more efficiently and effectively, it focuses on creating future mapping for business organizations, and control quality and production processes, for manufacturing of various products or goods, with this, approach, we produce output like goods and services, and consume inputs like Man power, Raw Material, Capital items, energy and utility, we can calculate productivity with this case, and solve day to day production and delivery issues with this approach - Operations Management,