Management Science and Business

Management is the ‘science’ used for the application of quantitative techniques (those involving making measurements) to business decision-making. Business Management and its science cover the whole range of decision-making by management, for example, information technology, operations research, production management, marketing, personnel management, and cost accounting. Management methods operate by forming a quantitative representation of a business problem that is by putting a numerical value on the factors involved. This modelling process enables the major elements of the decision to be identified and considered in relation to the whole problem.