Quantitative Approach of Management Science:(better managerial decision making by using quantitative techniques)

Which is the use of quantitative techniques to improve managerial decision making.

Also known as management science.

Better managerial decision making by using quantitative techniques, such as:

The quantitative approach evolved from mathematical and statistical solutions developed for military problems during World War II. For example, one group of military officers, nicknamed the Whiz Kids, joined Ford Motor Company in the mid-1940s and immediately began using statistical methods and quantitative models to improve decision making. It involves:

• applying statistics,
• optimization models,
• information models,
• computer simulations,
• and other quantitative techniques

to management activities. such as:

budgeting, queuing, scheduling, , and similar decisions,

• budgeting, resource allocation decisions;
• work queuing, scheduling(critical-path scheduling analysis);
• inventory management: optimal inventory levels determining(economic order quantity model);
• quality control;
• other

TQM(total quality management, the basis for today’s quality-management programs)

• W. Edwards Deming and Joseph M. Juran are the most famous two advocators.
• is a management philosophy devoted to Continual Improvement and responding to Customer Needs and Expectations. The term Customer: includes anyone who interacts with the organization’s product or services, internally or externally.
• Accurate Measurements and Baselines and Standards: which using Statistical Techniques that measure every Critical Variable in the organization’s work processes, and are compared against standards to identify and correct problems.
• TQM history: The ideas and techniques was advocated in the 1950s had few supporters in the United States, but were enthusiastically embraced by Japanese organizations. As Japanese manufacturers began beating US competitors in quality comparisons, however, Western managers soon took a more serious look at Deming’s and Juran’s ideas, which became the basis for today’s quality-management programs. Total quality management, or TQM.

Quality Management:

1. Intense focus on the customer.
2. Concern for continual improvement. Quality management is a commitment to never being satisfied. “Very good” is not good enough. Quality can always be improved.
3. Process focused.
4. Improvement in the quality of everything the organization does.
5. Accurate measurement.
6. Empowerment of employees.

Setting Goals and Developing Objectives Introduction:

S.M.A.R.T.(Specific, Measurable, Achievable, Relevant, and Time-bound) Objectives for Goals

Goals are the specific result or purpose expected from the project. The project goals specify what will be accomplished over the entire project period and should directly relate to the problem statement and vison. The goal is achieved through the project objectives and activities.

Objectives are the specific steps that lead to the successful completion of the project goals.

Completion of objectives result in specific, measurable outcomes that directly contribute to the achievement of the project goals.

Setting S.M.A.R.T. objectives:

• _is a good way to plan the steps to meet the long-term goals in your grant. It helps you take your grant from ideas to action._
• keeps the project moving forward, helps with accountability and timing, and lets you know that you are accomplishing what you set out to accomplish.

Definition of SMART Objectives

SMART stands for specific, measurable, achievable, relevant, and time-bound.

• Specific – Objective clearly states, so anyone reading it can understand, what will be done and who will do it.
• Measurable – Objective includes how the action will be measured. Measuring your objectives helps you determine if you are making progress. It keeps you on track and on schedule.
• Achievable – Objective is realistic given the realities faced in the community. Setting reasonable objectives helps set the project up for success
• Relevant – A relevant objective makes sense, that is, it fits the purpose of the grant, it fits the culture and structure of the community, and it addresses the vision of the project .
• Time-bound – Every objective has a specific timeline for completion.

https://www.samhsa.gov/sites/default/files/nc-smart-goals-fact-sheet.pdf#:~:text=Definition of SMART Objectives SMART stands for specific%2C,Objective includes how the action will be measured.