Welcome to Open Science
Contact Us
Home Books Journals Submission Open Science Join Us News
Quantitative Decision Making; Mathematical and Managerial Perspectives Comparative Case Study (MSA Versus Cairo University)
Current Issue
Volume 5, 2018
Issue 4 (December)
Pages: 163-167   |   Vol. 5, No. 4, December 2018   |   Follow on         
Paper in PDF Downloads: 32   Since Jan. 17, 2019 Views: 1165   Since Jan. 17, 2019
Emad El-Din Hussein Hassan, Management Information System Department, Faculty of Management, October University for Modern Sciences and Arts (MSA), Cairo, Egypt.
Zeinab Abbas Zaazou, Management Information System Department, Faculty of Management, October University for Modern Sciences and Arts (MSA), Cairo, Egypt.
This paper is mainly focusing on the contribution that quantitative techniques can make to managerial decision making. It is also marking the importance of using quantitative techniques in decision making whether in a public or private entity. The aim of this study is to proof that decision making is always based on data and information, which is increasingly quantitative and managers of various backgrounds need the knowledge of the techniques and processes appropriate for analyzing such information apart from the sophistication of the statistician or mathematician specialists. That’s why students should be familiar and be aware of the importance of the quantitative approach in decision making. This concept triggered the researcher to present through a case study how can instructors use the quantitative decision making technique with students of different faculties and majors, such as management students and engineering or statistics students. The case study methodology is well established in the social sciences. This approach may help to inform practice by illustrating what has worked well and what didn't. The main study finding was that almost all the participants of the two groups gained good knowledge about the importance of the quantitative decision making techniques and the deference it makes in the result of decision making process and also the rule of each mathematics and management sciences in it. About 50% of the students of management sciences group were interested in seeing some examples of using quantitative methods in decision making. About 70% of the mathematics students were attracted to see more managerial applications in management field. Researchers believe that this study is one of the very few studies done regarding this topic in Egypt. Using quantitative techniques in managerial fields is quite new in the educational and practical field in developing countries in general and in Egypt in specific.
Quantitative Decision Making, Management Decision Making, Quantitative Techniques
B. W. Taylor: Introduction to Management Science, Pearson, 12th edition 2015.
D. R. Anderson and D. J. Sweeney: An Introduction to Management Science: Quantitative Approaches to Decision Making, Cengage learning, 14th edition, 2015.
Edler, L., Poirier, K., Dourson, M., Kleiner, J., Mileson, B., Nordmann, H., & Würtzen, G. (2002). Mathematical modelling and quantitative methods. Food and Chemical Toxicology, 40 (2-3), 283-326.
Erickson, A. W. (2016). Rethinking the Numerate Citizen: Quantitative Literacy and Public Issues. Numeracy, 9 (2), 4.
H. Taha: Operations Research, an Introduction, 9th edition, 2010.
Ingrid and Michael Stefanovic (2005), Quantitative Methods for Decision Making – Procept Associates Ltd., Global Congress Proceedings, Toronto, Canada, 2005. Retrieved at: training.procept.com/library/decisions-decisions.
Joseph Ezenwa (2016), The Role of Quantitative Technique that will enable industry/Business organizations gain Competitive advantage, May, 2016 retrieved at: https://www.linkedin.com/pulse/role-quantitative-technique-enable-industrybusiness-gain-ezenwa.
Mussen, F., Salek, S., & Walker, S. (2007). A quantitative approach to benefit‐risk assessment of medicines–part 1: the development of a new model using multi‐criteria decision analysis. Pharmacoepidemiology and drug safety, 16 (S1), S2-S15.
Oluwaseun T Esan, Charles T Akanbi, Oluwadare Esan, Olusola Fajobi and Primus I Ikenebomeh, Application of quantitative techniques in decision making by healthcare managers and administrators in Nigerian public tertiary health institutions, Sage, Health Services Management Research 2016, Vol. 29 (3) 50–61, 2016.
Simon, H. A., Dantzig, G. B., Hogarth, R., Plott, C. R., Raiffa, H., Schelling, T. C.,... & Winter, S. (1987). Decision making and problem solving. Interfaces, 17 (5), 11-31.
Vera Djordjević, PhD, Vinko Lepojević, Msc, Vesna Janković-Milić, Msc, The Role of Quantitative Techniques in Decision Making Process, Ekonomske Teme Godina izlaženja, XLVI, br. 1, 2008.
Welsh, I., & Lyons, C. M. (2001). Evidence‐based care and the case for intuition and tacit knowledge in clinical assessment and decision making in mental health nursing practice: an empirical contribution to the debate. Journal of Psychiatric and Mental Health Nursing, 8 (4), 299-305.
Will M. Bertrand, J., & Fransoo, J. C. (2002). Operations management research methodologies using quantitative modeling. International Journal of Operations & Production Management, 22 (2), 241-264.
Yin R K (2009) Case study research: design and methods. 4th ed. London: Sage, 2009.
Open Science Scholarly Journals
Open Science is a peer-reviewed platform, the journals of which cover a wide range of academic disciplines and serve the world's research and scholarly communities. Upon acceptance, Open Science Journals will be immediately and permanently free for everyone to read and download.
Office Address:
228 Park Ave., S#45956, New York, NY 10003
Phone: +(001)(347)535 0661
Copyright © 2013-, Open Science Publishers - All Rights Reserved