Answer to Question #324292 in Management for syed taha

Question

Define and explain the principles of quantitative management, systems approach, and contingency approach?

Answer 1

Quantitative management

The quantitative management approach involves the application of quantitative techniques such as statistics, computer simulations, and information and optimization models to the process of management. Centrally, this approach works with the principle that organizations are units of decision-making and these units can be made more efficient by using mathematical models.

Systems approach

This is a management approach which advocates that organizations should see business problems as a whole system that comprises of a hierarchy of sub-systems. It is based on the principle that to best understand the component parts of a system, it is prudent to consider the relationship context of each part and with other systems instead of in isolation. This implies that making decisions and implementing actions in one area of the organization will simultaneously impact other areas.

Contingency approach

Contingency approach to management promotes that organizational design and managerial actions must be situation appropriate and the validity of a particular action depends on the existing situation. Hence, this approach work with the perspective that there is no supreme approach to management therefore each managerial action is contingent upon the factors in the external environments. As this approach is both situational and analytical, its main objective is to develop practical answers to imminent problems.