Question

g Discuss the different roles played by the qualitative and quantitative approaches to managerial decision making. Why is it important for a manager or decision maker to have a good understanding of both of these approaches to decision making

Answer 1

Answer:

• The Quantitative approach plays a role in decision making as it involves the use of mathematical language to ease the decision-making process in a management. Where a Manager exhibits an absence of sufficient experience Quantitative approach can be settled for. The quantitative approach properly works for dispassionately quantifiable issues

For example, where a Manager wants to properly share certain resources among departments, he makes sure he gets a department that will yield profit. This clearly shows the use of the mathematical methodology.

• The Qualitative approach also plays a role in decision making in an Organization as it requires experiential information on the different variables associated with a choice. It is closely related to social sciences. It effectively deep dive into what prompts a person to act the way he does.

For example, where dispute arise in an Organization, the Manager is expected to apply this approach to understand how the complexity in the workings of the Organization.

A Manager needs to have good understanding of both approaches because Managers are in a position of leadership for the smooth running of the Organization. They should be able to take on well educated choices that contribute toward the achievement of their organizations.