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  • Quantitative Approach

    centered on statistics and mathematical techniques - sounds like a boatload of fun if you ask me.

    Systems Approach

    focuses on systems that, when put together, make a whole unit, kind of like a jigsaw puzzle.(interconnected group of system; inputs, processes, outputs)

    Contingency Approach

    believes there is no one system or approach to managing an organization

    quantitative

    the measurement of quantity or amount.

    inputs

    Material, information or data that goes into the machine

    processes

    Work that is done to the material, information or data while it's in the machine

    outputs

    final product that comes out of the machine

    quantitative school of management

    combines classic management theory and behavioral science through the uses of statistical models and simulations

    Classic management theory

    focuses how to find the best possible way for workers to perform their tasks & was the predecessor to the quantitative school of management theory (administrative (organize productivity) & scientific branches (increase productivity))

    Quantitative Management theory

    comprised of:
    Management science
    Operations management
    Management information systems
    Systems management theory

    Management science

    encourages and supports managers in using math and statistics to solve problems

    Operations management

    focuses on managing the process of blending materials, employees in the form of labor and capital (money and equipment) into useful goods or services.

    Management information systems

    organize data from the past, present and what could be projected from sources within the company and outside the company and processes it into usable information.

    Systems management theory

    takes inputs, puts them through a transformation process, produces outputs and finally gives feedback on the systems the company is using.

    Operations Management

    the overseeing and controlling of the manufacturing process to include materials planning, process planning, capital requirements, and human capital (think of managing thanksgiving dinner)

    Materials Planning

    the coordination of purchasing and delivery of raw materials to make the final product.

    Process Planning

    designing the processes required to ensure the product can be made in the shortest amount of time, with as little waste and as efficiently as possible.

    Capital Requirements

    the portion of operations management that deals with buildings and machinery.

    Human Capital

    the management of the employees that help run the facility.

    facets of operations managment

    focuses on the process of making materials, labor, and capital goods into some sort of finished product

    management information systems

    an organized computer system that gathers data from within and outside the company and processes it so it can be used by management.

    Qualitative Data

    explains the how and the why through some type of inspection or viewing of a problem or issue

    Quantitative Data

    measures how long or how often something is occurring through statistical analysis

    systems management theory believes that

    a system is a collection of parts brought together to accomplish some end goal or objective

    Open System

    A system that continually interacts with the environment around it. (nature)

    Closed System

    a system (or company) independent of the environment around it (high tech equipment)

    subsystem

    a system that is part of a larger system

    synergy

    order to a process where all the parts work harmoniously and in unison with each other

    entropy

    discord or a lack of predictability, a gradual decline into disorder.

    Contingency School of Management

    a management approach that believes there is no one process, system or approach to running a business (always be prepared)

    contingency plans

    plans to address any major or minor issues that could negatively impact the company.

    Business Continuity Planning

    contain planning and enacting activities that either prevent problems from arising or allow for a plan should an anticipated risk actually occur

    Disaster Recovery Plan

    planned processes or procedures a company will take to recover from a disaster

    Environmental scanning

    the careful monitoring of an organization's internal & external environments to look for opportunities & threats

    Total Quality Management

    all encompassing and structured approach to how organizations and their processes are managed and seeks to improve the quality of the final products and services through continuing refinements in response to continuous feedback

    TQM system

    Title; Purpose; Scope; inputs; outputs; controls; resources

    Re-engineering

    The radical redesign of business processes to achieve dramatic improvements in cost, quality, service, and speed.

    Kaizen

    Japanese philosophy that focuses on the slow process of continuous improvement.

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