Management Science (MS) is prematurely noted as “a field of study characterized by the use of mathematical and computer models for decision making.”
The early stages of formal endeavours in Management Sciences were seen in UK during World War II, where applications of scientific thinking were used within the military management domain. Responses towards MS attempts were usually sceptics, hence explaining the conservative approach as the recipients were not very receptive towards new ideas. However MS’s ability to analyse complicated problems and facilitate rational decision-making was encouraging further development. With increased sophistication, the potential of MS has probed its way from allied wars onto a corporate platform.
This report shall first endeavour to seek what the value of MS is through the changing contexts. Then using the five-phase model, we will be looking on how MS has responded to change to preserve usefulness and reliability (value), whilst discussing what it could/should be.
Keeping in mind that while MS efforts do seek to facilitate management decisions, however, in today’s context, it is not all that MS is useful for. The scope of MS has since expanded considerably. As such, a more appropriate definition is required to bring more relevance when describing MS with the context it is exposed in today.
A more accurate way of introducing MS is probably best left at a broader approach. “MS can broadly be described as the application of the ideas of science to the domain of management”
In many ways, Klein’s definition shows appreciation towards the dynamics of change in the management domain. The broad definition is receptive to the fluctuations of the very context it operates upon which hence heightens the value of Management Science by sustaining its relevance.
MS fundamentally employs rational thought and analytical thinking. It differentiates itself amongst those that attempts similar objective by...