Meaning of Management science
A science method of providing executive MGT with a quantitative base for decisions regarding operation under their control.
At first MS was started for military operation by tools and techniques developed. it was started during world 2. It is the application of scientific methods.
Example: Statistical and mathematical network and principles to business decision making and problem solving process.
Definition:
Applying scientific style method to common MGT situation can help company develop a deeper understanding of business scenarios and how to approach these issues.
Operation research is the application of scientific methods , techniques, and tools to problems involving the operations of systems so as to provide those control of the operations with optimum solutions to the problems.
The application of the scientific method to the analysis and solution of managerial decision making problems.
The application of scientific method to the study of the operation of large , complex organizations and activities.
Management science also take a more theoretical approach to making business decisions or solving problems rather than relying on a managers personal judgement or perception of business situation.