Explain the potential benefits of quantitative observations
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The numerous issues that arise in
large organizations regarding decision making can be difficult to properly grasp.
There are those leaders who base their conclusions solely on empirical data,
preferring to engage in a more quantitative decision-making process. Conversely,
there are supervisors who approach decision making from a more holistic perspective,
engaging in more qualitative thought processes. It is a reality, especially in
budgeting and issues affecting criminal justice agencies, that quantitative decision
making takes precedent. However, better conclusions are often drawn when qualitative
aspects of a problem or issue are also considered.
Compare and contrast the differences between quantitative and qualitative decision
making in public finance. Based on the required videos, provide at least two
quantitative and qualitative observations.
In addition to noting the differences between quantitative and qualitative
observations, respond to the following elements:
Explain which basic method of decision making you feel provides the most accurate
information for budget management; quantitative or qualitative.
Analyze both qualitative and quantitative-based budgetary decision making and
describe your preference between the two provided you were in a position of power.
Provide a rationale for your preference.
Explain the potential benefits of quantitative observations.
Explain the potential benefits of qualitative observations.