Quantitative School of Management

The theory emerged due to the consequences of WWII is none other than "Quantitative School of Management". The use of statistics, computer simulation & use of various models is used in this theory in order to improve the level of decision-making. The use of quantitative techniques in the management level to generate effective outcomes is involved in this theory.

Quantitative school of management comprises of various branches that are used to make a specific organization well-oriented one.

System Management Theory

System Management Theory has a wide impact on an overall management system of an organization. it consists of four major & basic elements with the help of which a proper and an established system is organized.

a. Inputs
b. Processes
c. Outputs
d. Feedback

These steps are the basic and the core elements without which no organization can work properly. A system management theory is thus used to make an organization well established one in order to generate effective outcomes from the very first day.

Management Information System

Management Information System is the latest practice that is now adopted by most of the organization. it helps to analyze and evaluate the past and present data and then make it possible in new and innovative ways for all the managers at every single level. As a result of the information provided by MIS, managers can quickly analyze and can easily draw alternatives.

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Operations Management

Operations management deals with the internal working of an organization. the use of labor, capital and materials in generating goods and services are analyzed and evaluate in this process. It is thus termed as an important set of area, which is the core area of an organization too.

Management Science

[linkunit]Management Science deals with the areas that highlight the core elements of an organization. The decision making tools, computer oriented decisions and many other areas are highlighted in this field.

The mixture of all these branches emerge out in the form of quantitative school of management that actually helps in making an organization well effective and an efficient one. Managers try to adopt every single field in order to make their organizations the best and capable enough to generate potential goods and services.

Decisions made by applying these areas are for long run and they do help an organization to be capable enough to deal and to compete with every single rivalry factor to make their organization the best one.

References

Warren Richard Plunkett, Raymond F. Attner (1997), "Management: meeting and exceeding customer expectations", South-Western College Publications, pg 760