"Mathematical concepts in Management" what does this connote ?

Question

has to do with the application of statistical/mathematical variables in management decisions. i.e., set theory, permutation & combination, inequalities, trigonometry, etc

Answer 1

You have answered your own question. Mathematics plays a major role in decision making and Quantitative Techniques as they are called are crucial in making decisions based on facts. There are no doubt brilliant intuitive decisions which yielded good results but they only go to prove the rule that success is 90% perspiration (pouring over figures) and 10% inspiration (intuition, that flash of brilliance).