Management science

Management science or Managerial Science MS is the broad interdisciplinary examine of problem solving together with decision creating in human organizations, with strong links to management, economics, business, engineering, management consulting, and other fields. It uses various scientific research-based principles, strategies, and analytical methods including mathematical modeling, statistics and numerical algorithms to update an organization's ability to enact rational and accurate management decisions by arriving at optimal or nearly optimal solutions to complex decision problems. supervision science permits businesses togoals using various scientific methods.

The field was initially an outgrowth of applied mathematics, where early challenges were problems relating to a optimization of systems which could be modeled linearly, i.e., establish the optima maximum usefulness of profit, assembly quality performance, crop yield, bandwidth, etc. or minimum of loss, risk, costs, etc. of some objective function. Today, management science encompasses all organizational activity for which a problem is structured in mathematical cause to generate managerially applicable insights.

History

The origins of management science can be traced to operations research, which became influential during World War II when the Allied forces recruited scientists of various disciplines to guide with military operations. In these early applications, the scientists used simple mathematical models to produce efficient ownership of limited technologies and resources. The a formal request to be considered for a position or to be allowed to do or have something. of these models to the corporate sector became asked as management science.

In 1967 Stafford Beer characterized the field of management science as "the business usage of operations research".