Application of Quantitative Techniques in Decision Making Among University Executives
International Conference on Modern Trends in Innovative Management, Faculty of Management Studies, Rajarata University of Sri Lanka. Mihintale
5 Pages Posted: 15 Nov 2015 Last revised: 16 Jan 2021
Date Written: October 27, 2011
Quantitative technique is a system of subjective data or information to empirical analysis to assist decision makers such as managers, researchers, etc. in reaching a more effective decision. This study was aimed to examine the application of quantitative techniques among the university executives. A random sample of 120 executives was selected for the study and required data from them were collected through specially designed structured questionnaire. Descriptive statistic, linear regression and correlation analysis, ANOVA and Chi-Square tests were utilized and all the analysis was performed with SPSS 16 version. Results show that, although a large number of quantitative techniques have been established in many years and majority of the respondents reported using one or more techniques, a few of them are being used in decision making. Furthermore, executives seem to be confining themselves to a selection of relatively simple techniques rather than not paying considerable attention to use more advanced techniques even through computers and software are readily available. The lack of understanding about the quantitative techniques among the executives was the major barrier to their usage. A new comprehensive approach to research and training is required to enhance the utilization of quantitative techniques which have not been widespread and familiar in decision making relative to the development of advanced and sophisticated techniques, models and software for solving problems.
Keywords: Quantitative techniques, Decision making, University executives
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