Question

Significance of management science in business and indusrty

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. Management science helps businesses to achieve goals using various scientific methods.

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Answer 2

Answer:

Management science is effectively used for solving problems through strategic decision making processes in business organizations. The processes are effective in using scientific methods for managing the resources in the environment and raise the efficiency of the industrial sectors.