CHAPTER 1: MANAGEMENT SCIENCE

Based on what you learned, what do you mean by Management Science?

From what I’ve read and learned in this chapter, Management Science is the application
of a scientific approach to solving management problems in order to help managers make better
decisions. In simple terms, Management Science is the study of problem solving and decision
making in organizations. This implies that management science includes a variety of
quantitatively oriented procedures that have either been created within the subject of
management science or have been adopted from other fields, including the natural sciences,
mathematics, statistics, and engineering. Management Science encompasses more than just
the development of models for specific problems. It makes a substantial contribution in a much
broader area: the application of the output from management science models for
decision-making at the lower, middle, and top management levels.