Quantitative approaches to management include all of the following characteristics EXCEPT:
A) a focus on costs, revenues, and return on investment.
B) the use of managerial rules of thumb that are based on personal experience and personal preferences.
C) a focus on decision making that has clear implications for management action.
D) the use of economic decision criteria.
E) the use of mathematical models that follow sophisticated rules and formulas.

Question

Quizplus · Accepted Answer

Quantitative approaches to management emphasize objective measurements and the statistical, mathematical, or numerical analysis of data collected through polls, questionnaires, and surveys, or by manipulating pre-existing statistical data using computational techniques. They do not rely on managerial rules of thumb that are based on personal experience and personal preferences, which is more characteristic of qualitative or experiential management approaches.

Quantitative Approaches to Management Include All of the Following Characteristics