GEOMETRIC MEAN SUMMARY - Quantitative Techniques for management

The changes in the structure of human organization, perfection in various fields and introduction of decision had given birth to quantitative technique. The application of Quantitative Techniques methods helps in making decisions in such complicated situation. Evidently the primarily objective of Quantitative Techniques is to study the different components of an organization by employing the methods of mathematical statistics in order to get the behavior with greater degree of control on the system.

In short, the objective of Quantitative Technique is to make available scientific basis to the decision- maker, for solving the problem involving the interaction of different components of the organization by employing a team of scientists from distinguish disciplines, all working in concert for finding a solution which is in the best interest of organization as a whole. The best solution thus obtained is known as optimal decision.

All rights reserved © 2018 Wisdom IT Services India Pvt. Ltd Protection Status

Quantitative Techniques for management Topics