A Third Way Between Hard and Soft Methodologies

This paper examines the two extremes of hard and soft systems methodologies and discusses the merits of each approach. It then suggests how the better attributes of the two approaches can be realised with a third way combining the elements of both. The advent of more powerful computing technologies allows a more broadly based approach to decision processes than a strict algorithmic one. Areas of application to be discussed include yield management and financial management. Specific examples are discussed and computational implementation described.