Question

Management science which is the main complexity of management science

Answer 1

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 sciences. It uses various scientific research-based principles, strategies, and analytical methods including mathematical modeling, statistics and numerical algorithms to improve an organization's ability to enact rational and accurate management decisions by arriving at optimal or near optimal solutions to complex decision problems. In short, management sciences help businesses to achieve goals using various scientific methods.

Answer 2

Management science generally refers to mathematical or quantitative methods for business decision making. The term "operations research" may be used interchangeably with management science.

The four major characteristics of management science are as follows:-

(1) Examine Functional Relationships from a Systems Overview.

(2) Use the Interdisciplinary Approach.

3) Uncover New Problems for Study

(4) Use a Modeling-Process Approach to Problem Solving