management science

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""The management scientist's mandate is to use rational, systematic, science-based techniques to inform and improve decisions of all kinds."" Source: management science. Wikipedia, the free encyclopedia. (accessed: November 28, 2006).

Management science encompasses the functional, cross-functional and multiple disciplines involved in the management of an organization. Beyond general management and organization leadership, aspects of management science include strategy, accounting, finance, information systems, manufacturing, distribution, marketing, research, development, supply chain management, decision analysis, organization performance, modeling, simulation, design, game theory, etc.

Management science is concerned with developing and applying models and concepts in order to illuminate management issues, improve business decision making, and solve managerial problems. The models used can often be represented mathematically, but sometimes computer-based, visual or verbal representations are used. Management science is about using models to solve real problems, helping management deal with the complexities experienced in organizations. Management science has a practical, rather than an academic, bent.