For a business to thrive, several factors usually must be done. The leadership of the business organization is the epitome of business success. Whatever is taught by the leadership to its employees significantly determines the success of the results of the business. All decisions done in a company are based on leaders’ impact (Goodwin & Wright,2014) . They are the flag bearers of the mission and vision of the business. Based on the qualitative and quantitative analysis, decisions are made. Both have a significant role in the results of the decisions made. Nevertheless, based on the angle one looks into the matter, the analysis weighs differently. Therefore, this essay will discuss the role of using Qualitative or Quantitative Analysis for Managerial decision making and the impact resulted.
Firstly, it is clear that quality determines quantity. Hence, businesses should always engage in qualitative analysis for managerial decision making. For a business to prosper, the producers have to please the consumers with the products produced. It takes a lot of trust from relevant stakeholders to engage in business. In many times, stakeholders will always come up with goals that should be met to achieve what they need. This process usually requires qualitative analysis as it will involve discussions on how to make the firm or business better. This is the same way a consumer evaluates the quality of a product before purchasing it. Since the decisions made are very crucial, keenness and quality are mandatory. The decisions must be smart and authentic (Goodwin & Wright,2014) . Having a good quality analysis in business will automatically correlate to the quantity of the company. Suppose of a brand that is well established and has thrived well due to its productivity. Such a brand has its quantitive analysis in terms of profitability escalating. Therefore, the management may decide to hike the price of the products produced. Due to the status gained and the products produced being quality, the consumers will always stick to the products being produced. Therefore, the decision made by the management brings more success in the long run. But, this happens because of the positive outcome consumers experienced, from the quality engaged in decision making.
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Reputation is an excellent example of qualitative analysis in business. The perception consumers have on a market is crucial ( Antwi & Hamza 2015) . It entails the way the consumers are treated on different occasions. Are the consumers given the priority in terms of getting products? Are the consumers contented with the products produced in the business? Such questions categorically define the reputation. Reputation becomes the most critical aspect of the business. Long term engagement in business only occurs when the reputation of the business is positive. Despite quantitative analysis involving mathematical data presentation, which is very reliable, it depends on the qualitative perspective from which the data is collected (Markgraf & Seidel, 2019) . The data provided gives a prediction and the way forward for the business. Significant risks and potentialities are easily analyzed. However, all this happens when the reputation between the consumers and the business is relatively positive. All in all, qualitative analysis becomes the basis of making managerial decisions.
Employees working in a given firm play a vital role in managerial skills and should, therefore, always be considered(Antwi & Hamza 2015) . Their quality of services produced to the customers is crucial. Expertise in the relevant business field should be brought on board to produce quality results. Treatment offered to the employees defines the outcome provided. Attitude also is very vital. All events under the employees are categorized under the qualitative analysis.
In conclusion, qualitative analysis is the principle path to successful managerial decision making. It becomes the preference in managerial decision making due to the positive impacts that surpass the quantitative analysis Management should be keen on addressing the decisions and making sure that quality becomes the quest for a positive outcome after making crucial decisions. Also, for a quantitative analysis to be successful, it will depend on the quality of qualitative analysis to achieve it. Thus, this makes qualitative research to be an essential component of a business' success.
References
Antwi, S. K., & Hamza, K. (2015). Qualitative and quantitative research paradigms in business research: A philosophical reflection. European journal of business and management , 7 (3), 217-225.
Goodwin, P., & Wright, G. (2014). Decision Analysis for Management Judgment 5th ed .
Markgraf, B., & Seidel, M. (2019, March 8). Chron . Retrieved from Difference Between Qualitative & Quantitative Analysis for Managerial Decision Making: https://smallbusiness.chron.com/difference-between-qualitative-quantitative-analysis-managerial-decision-making-77298.html
