Quantitative Methods for Business Paper
Kent Jackson
11AM-12:20PM
GB 202
Quantitative techniques are mathematical and reproducible. Regression analysis is an example of one such technique. Statistical analysis is also an example of a quantitative technique. Quantitative techniques are applied for business analysis to optimize decision making IE profit maximization and cost minimization. It covers linear programming models and other special algorithms, inventory and production models.
Albert Humphrey, a management consultant who specialized in organizational management, devised the SWOT analysis technique at Stanford Research Institute in the 1960s. Today, not only large corporations but also nonprofit and government agencies employ SWOT analysis. An enhanced method, known as the Six Forces Model, further helps to quantify competition, buyers and suppliers.
Identify strengths and weaknesses to assess whether the desired end state is possible. If it is not, revise your objective to reflect an attainable goal. Use SWOT analysis in strategic planning, crisis management and feasibility studies. Apply SWOT analysis techniques in academic environments for developmental studies. Use SWOT analysis to figure out how to exploit each strong point and minimize each disadvantage.
SWOT analysis techniques facilitate decision making by classifying and categorizing factors that influence the outcome of activities. Identifying the strengths or weaknesses of your product, price, place of sale and promotion strategy in concert with listing economic, technological and legal factors help you identify your competitive position. Quantitative data help you to justify how important each activity is to your company (http://rapidbi.wordpress.com/2008/12/29/history-of-the-swot-analysis/).
SWOT analysis is typically identified as one of two types: planning or marketing. Corporate planning involves setting objectives, assessing abilities, analyzing current strategies,
11AM-12:20PM
GB 202
Quantitative techniques are mathematical and reproducible. Regression analysis is an example of one such technique. Statistical analysis is also an example of a quantitative technique. Quantitative techniques are applied for business analysis to optimize decision making IE profit maximization and cost minimization. It covers linear programming models and other special algorithms, inventory and production models.
Albert Humphrey, a management consultant who specialized in organizational management, devised the SWOT analysis technique at Stanford Research Institute in the 1960s. Today, not only large corporations but also nonprofit and government agencies employ SWOT analysis. An enhanced method, known as the Six Forces Model, further helps to quantify competition, buyers and suppliers.
Identify strengths and weaknesses to assess whether the desired end state is possible. If it is not, revise your objective to reflect an attainable goal. Use SWOT analysis in strategic planning, crisis management and feasibility studies. Apply SWOT analysis techniques in academic environments for developmental studies. Use SWOT analysis to figure out how to exploit each strong point and minimize each disadvantage.
SWOT analysis techniques facilitate decision making by classifying and categorizing factors that influence the outcome of activities. Identifying the strengths or weaknesses of your product, price, place of sale and promotion strategy in concert with listing economic, technological and legal factors help you identify your competitive position. Quantitative data help you to justify how important each activity is to your company (http://rapidbi.wordpress.com/2008/12/29/history-of-the-swot-analysis/).
SWOT analysis is typically identified as one of two types: planning or marketing. Corporate planning involves setting objectives, assessing abilities, analyzing current strategies,
References: Brechner, Robert (2006). Contemporary Mathematics for Business and Consumers Fifth Edition. Duggans, Tara. “Strengths and Weaknesses Quantitative Technique”. Ehow Money. Retrieved March 28, 2012. From Why is Math Important. 26 Mar 2012. 28 March 2012. History of the SWOT analysis. Aug 2004. 4 March 2012. < http://rapidbi.wordpress.com/2008/12/29/history-of-the-swot-analysis/>