The Role of Quantitative Methods in Management

Abstract

When we look at the current global financial meltdown, it is hard to resist asking ourselves the simple and obvious question, "Where have we gone wrong?" I don't think there are simple answers to this simple question. In any case, hindsight will not help us get out of the present mess brought about by the demise of a 158- year-old institution called Lehman Brothers and the collapse of financial giants such as Merrill Lynch and AIG which had to be rescued by Bank of America and the US government with a staggering price tag of $700 billion or more.