Pilgrim Christian College

School of Business and Accountancy

Corner Capistrano-Akut St., Cagayan de Oro City

Assignment
Introduction to Management Science
AE 17A

Submitted to:

PROF. WILSON BATION

Instructor

Submitted by:

PAULENE AISLE HYACINTH G. ACERA

Student

August 25, 2021

1. Objectives of the School of Business and Accountancy.

- The objectives of the School of Business and Accountancy is to provide a quality

preparation for careers in accounting and business; and contribute intellectually in the
improvement and enhancement in the accounting and business field.

2. Approaches and usefulness of Management Science.

- Management science approach, also known as mathematical or quantitative measurement

approach, visualizes management as a logical entity, the action of which can be expressed in terms of
mathematical symbols, relationships, and measurement data. Management science can also reduce the
overall efficiency of the organization and make decision-making easier and more defined. The broad
advantage of the approach is its ability to design measures that can be used to identify and evaluate the
effectiveness of the processes currently in use.

3. The problem-solving process.

- Problem solving is the act of defining a problem; determining the cause of the problem; identifying,
prioritizing, and selecting alternatives for a solution; and implementing a solution. To effectively manage and
run a successful organization, leadership must guide their employees and develop problem-solving techniques.
Finding a suitable solution for issues can be accomplished by following the basic four-step problem-solving
process and methodology outlined below:

Step Characteristics

1. Define the problem • Differentiate fact from opinion

• Specify underlying causes
• Consult each faction involved for information
• State the problem specifically
• Identify what standard or expectation is violated
• Determine in which process the problem lies
• Avoid trying to solve the problem without data

2. Generate alternative • Postpone evaluating alternatives initially

solutions • Include all involved individuals in the generating of alternatives
• Specify alternatives consistent with organizational goals
• Specify short- and long-term alternatives
• Brainstorm on others' ideas
• Seek alternatives that may solve the problem
3. Evaluate and select • Evaluate alternatives relative to a target standard
an alternative • Evaluate all alternatives without bias
• Evaluate alternatives relative to established goals
• Evaluate both proven and possible outcomes
• State the selected alternative explicitly

4. Implement and • Plan and implement a pilot test of the chosen alternative
follow up on the • Gather feedback from all affected parties
solution • Seek acceptance or consensus by all those affected
• Establish ongoing measures and monitoring
• Evaluate long-term results based on final solution