Question

Management science is the preferred term of​

Answer 1

Answer:

• Management science (MS) is the broad interdisciplinary study of problem solving and decision making in human organizations, with strong links to management, economics, business, engineering, management consulting, and other fields.

• A course in management science uses applied mathematics to affect an organization's ability to reach optimal solutions to complex management problems. What is a course in management science? It is a unit of instruction that covers the theories, concepts, research and practices of operations research.

Answer 2

"Interdisciplinary study of problem solving and decision making in human organization", is Management Science.

Explanation:

• Is the interdisciplinary study of problem solving and decision making in human organizations, with significant connections to management, economics, business, engineering, management consulting, and other subjects.
• It improves an organization's ability to make rational and accurate management decisions by arriving at optimal or near optimal solutions to complex decision problems using a variety of scientific research-based principles, strategies, and analytical methods such as mathematical modelling, statistics, and numerical algorithms. Management science employs a variety of scientific methodologies to assist firms in achieving their objectives.
• Early challenges in the field were problems relating to the optimization of systems that could be modelled linearly, such as determining the optima (maximum value of profit, assembly line performance, crop yield, bandwidth) or minima (minimum value of loss, risk, costs) of some objective function. Management science now refers to any organizational action in which an issue is framed mathematically in order to yield managerially useful insights.