Quantitative Decision Making; Mathematical and Managerial Perspectives Comparative Case Study (MSA Versus Cairo University)

Abstract

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.