Discuss the different roles played by the qualitative and quantitative approaches

Discuss the different roles played by the qualitative and quantitative approaches

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May 17, 2022
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Discuss the different roles played by the qualitative and quantitative approaches to managerial decision making. Why is it important for a manager or decision maker to have a good understanding of both of these approaches to decision making?

Answer and ExplanationSolution by a verified expert

Explanation
Both the qualitative and the quantitative methods are used to make an assessment of the available choices and choose an optimal one. The qualitative method makes use of intuition and familiarity with the issue under consideration for solving it and has no scientific basis. The quantitative method relies on conducting a scientific assessment of factual data available regarding the issue under consideration and making a choice based on the results of this assessment. The qualitative method can be applied if the issue is simple and the quantitative method can be applied if the issue is more severe or repetitive. The best choice is made when both these methods are used simultaneously, which is why the person in charge needs to have knowledge regarding both these methods.

Sample Response
When the issue to be solved is simple and the person in charge of solving the issue has encountered similar issues in the past, qualitative techniques can be used for resolving it. This method makes use of one's shrewdness and familiarity with similar issues for solving the difficulty.

When the issue is complex or if the person in charge has not encountered similar issues in the past, then the quantitative techniques can be used for resolving the complication. The quantitative method makes use of facts and data related to the issue. Scientific tools are used for analyzing the related data and then making a choice based on the results of this analysis.

While the qualitative method uses intuition and knowledge, the quantitative method makes use of skills that needs to be mastered. If both these techniques are simultaneously applied, then the final choice made will be optimal with both factual as well as an intuitive basis which is why the person in charge needs to have knowledge of both these methods.

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