EMPIRICAL SCHOOL

THE DECISION THEORY

SCHOOL

Empirical Approach

Empirical Method

Empirical Research

Empirical approach is essentially an

experimental/observational approach

to things. After doing all of the testing,

the end result is what is most important.

Empirical method is generally taken to

mean the collection of data on which to

base a theory or derive conclusion in

science.

Two methods scientist use to obtain

empirical evidence:

a. They go to experience it.

b. They do laboratory test.

Empirical research is a way of gaining

knowledge by means of direct

observation or experience.

EMPIRICAL SCHOOL

This school analyses management through

experience. As a study of experience, it

draws generalization but usually as a

means of teaching experience to the

practitioner or student. Practitioners of

this school formulate lessons and

principles from past management

experience and use them as guides to

their future actions.

This school considers management as a

series of decision and analysis of decisions

as the central of management.

Decision Theory

Decision theory is a body of knowledge

and related analytical techniques of

different degrees of formality designed

to help a decision maker choose among

a set of alternatives in light of their

possible consequences.

Decision theory recognizes that the

ranking produced by using a criterion

has to be consistent with the decision

maker's objectives and preferences.

“People grow through experience if

they meet life honestly and courageously.

And they take risks in every decision they

make. This is how character is built.”

– Eleonor Roosevelt