Quantitative Methods Essay

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What is Management Science? Management science is the application of a scientific approach to solving management problems in order to help managers make better decisions (Taylor, 2011). Management science encompasses a number of mathematically oriented techniques that have either been developed within the field of management science or been adapted from other disciplines, such as the natural sciences, mathematics, statistics, and engineering (Taylor, 2011). Management science is a recognized and established discipline in business. The applications of management science techniques are widespread, and they have been frequently credited with increasing the efficiency and productivity of business firms. In various surveys of businesses, many indicate that they use management science techniques, and most rate the results to be very good. Management science also referred to as quantitative methods is part of the fundamental curriculum of most programs in business (Taylor, 2011). The main users of management science are business organizations. However, management science techniques can be applied can be applied to solve problems in different types of organizations, including services, government, military, business and industry, and health care (Taylor, 2011). Management science is more than just a collection of techniques. Management science is more than just a collection of techniques. Management science also involves the philosophy of approaching a problem in a logical manner. The logical, consistent, and systematic approach to problem solving can be useful and valuable as the knowledge of the mechanics of the mathematical techniques themselves. Management science encompasses a logical, systematic approach to problem solving, which closely parallels what is known as the scientific method for attacking problems (Taylor, 2011). Management science follows an ordered

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