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Two sets of different qualities are required for
any manager. The first set consists of
analytical ability, problem-solving
skill, logical thinking and rational
decision-making ability. The other set is being sensitive to
people and their needs, ability to empathize,
understand, communicate, influence, motivate and lead.
The first category can be collectively called as
logical thinking ability and it is common to
intellectuals, scientists, philosophers,
mathematicians, scholars, etc. The latter can be grouped as
social skills, common with social figures,
performers, etc. One has to be good at both these to be
an effective leader or a manager. It calls for a combination of head and heart, in short.
Those who are not quite at home with quants may
lack the former ability. Thinking in terms of quants
is the new way of management. This is because quants is objective, free of guesswork,
subjective biases and the inherent inaccuracy of
decisions based on qualitative aspects alone. Hence
the stress for more and more quantification and quantity-based decisions, using computer.
"What gets measured gets done" is the approach.
Hence, basic quantitative skills have become a must for
all, irrespective of the field of management.
But unfortunately this puts management students and practitioners, who are allergic to or
at least afraid of maths in difficulty. It is a
vicious circle. Since one is afraid of
maths/quantitative techniques, one tries to avoid them. Since they
do not even attempt to think quantitatively, their quantitative abilities further dwindle.
Maths makes a person think logically. Conversely,
while trying to think logically, one's mathematical
ability undergoes improvement. It is an established
fact that algebra, particularly Boolean algebra
improves one's logical thinking ability. Hence all
aspirants/practicing managers have to develop a liking or
at least reduce their fear of quants. Maths is the
most logical and the only perfect subject. So even
those who are averse to it, to start with may `pretend'
to like it and keep aside their unfounded fears.
Soon they will start appreciating it and can easily use
it as a very effective and handy tool for
analysis, decision making and logical reasoning. This is
an attempt to take away the fear of quants from
the minds of aspiring and practicing managers.
Those who are interested in quants will find it even
more interesting. |
