In the Context of Contemporary Approaches to Management, Write a Short

question 35

Essay

In the context of contemporary approaches to management, write a short note on quantitative management.

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Definitions:

Performance Measurement

The process of evaluating how effectively an organization or individual achieves its objectives and goals.

Performance Management

A systematic process by which an organization involves its employees in improving organizational effectiveness in the accomplishment of the organization's mission and goals.

Balanced Scorecard

A strategic planning and management system used by organizations to align business activities with the vision and strategy of the organization, improve internal and external communications, and monitor performance against strategic goals.

Four Perspectives

Refers to a framework often used in business and management to evaluate an organization from multiple angles, commonly including financial, customer, internal processes, and learning and growth aspects.