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Management Science Discipline - Coursework Example

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"Management of Science Study" paper examines this discipline that attempts to aid managerial decision making by applying a scientific approach to managerial problems that involve quantitative factors. It is a whole body of knowledge and techniques that are based on a scientific foundation.  …
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Management Science Discipline
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Download file to see previous pages According to Bagad (2008, p.1) management enables a country to experience a substantial level of economic development by bringing together the four factors of production: men, material, money, and machines. It has been declared by F.W, Taylor, father of scientific management that “management has to be scientific” and it is a social science as it deals with human beings in ways of systematic decision making, situational output, universal management process, and universally accepted principles of management. Science has made its presence literally in every field of studies and it is essential to use scientific approaches which will assist the companies in decision making and other managerial activities which is the scope of present paper that aims to define the management science and explain the relationship of breakeven point & sensitivity analysis to management science, linear programming, and functional constraints.

The need of a modern technological military for new management techniques to deal with operational problems of an increasingly complex nature flowing from waging of the greatest war ever fought on this planet gave rise to the management approach known as management science or operational research (Montana and Charnov, 2000, p.27). Management science is concerned with developing and applying models and concepts that may prove useful in helping to illuminate management issues and solve managerial problems (http://www.lums.lancs.ac.uk). According to Daft (2009, p462), management science approach to organizational decision making is the analog to rational approach by individual managers and is an excellent device for organizational decision making when problems are analyzable and variables can be identified and measured. Further management science is built around quantitative skills wherein it deals with numbers and relationships between numbers with the use of various modeling techniques that develop your intuition.  ...Download file to see next pagesRead More
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