An Introduction to Management Science: Quantitative Approaches to Decision Making

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Management science an approach to decision making based on the scientifc method makes extensive use of quantitative analysis A variety of names exists for the body of knowledge involving quantitative approaches to decision making in addition to management science two other widely known and accepted names are operations research and decision science Today many use the terms management science operations research and decision science interchangeably The scientifc management revolution of the early 1900s initiated by Frederic W Taylor provided the foundation for the use of quantitative methods in management But modern management science research is generally considered to have originated during the World War II period when teams were formed to deal with strategic and tactical problems faced by the military These teams which often consisted of people with diverse specialties e g mathematicians engineers and behavioral scientists were joined together to solve a common problem by utilizing the scientifc method After the war many of these team members continued their research in the feld of management science Two developments that occurred during the post World War II period led to the growth and use of management science in nonmilitary applications First continued research resulted in numerous methodological developments Probably the most signifcant development was the discovery by George Dantzig in 1947 of the simplex method for solving linear programming problems At the same time these methodological developments were taking place digital computers prompted a virtual explosion in computing power Computers enabled practitioners to use the methodological advances to solve a large variety of problems The computer technology explosion continues smart phones tablets and other mobile computing devices can now be used to solve problems larger than those solved on mainframe computers in the 1990s Management science an approach to decision making based on the scientifc method makes extensive use of quantitative analysis A variety of names exists for the body of knowledge involving quantitative approaches to decision making in addition to management science two other widely known and accepted names are operations research and decision ...science Today many use the terms management science operations research and decision science interchangeably The scientifc management revolution of the early 1900s initiated by Frederic W Taylor provided the foundation for the use of quantitative methods in management But modern management science research is generally considered to have originated during the World War II period when teams were formed to deal with strategic and tactical problems faced by the military These teams which often consisted of people with diverse specialties e g mathematicians engineers and behavioral scientists were joined together to solve a common problem by utilizing the scientifc method After the war many of these team members continued their research in the feld of management science Two developments that occurred during the post World War II period led to the growth and use of management science in nonmilitary applications First continued research resulted in numerous methodological developments Probably the most signifcant development was the discovery by George Dantzig in 1947 of the simplex method for solving linear programming problems At the same time these methodological developments were taking place digital computers prompted a virtual explosion in computing power Computers enabled practitioners to use the methodological advances to solve a large variety of problems The computer technology explosion continues smart phones tablets and other mobile computing devices can now be used to solve problems larger than those solved on mainframe computers in the 1990s

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