Republic of the Philippines

PALAWAN STATE UNIVERSITY

Puerto Princesa City

MANAGEMENT SCIENCE (AE2)

TAKE-HOME EXAMINATION

NAME: Lorie Mae L. Jagmis INSTRUCTOR: Prof. Noel B. Corpuz

COLLEGE: College of Business and Accountancy YEAR: 1st year, Block 3, 2nd Semester
PROGRAM: Bachelor of Science in Accountancy ACADEMIC YEAR: 2022-2023
DATE: February 20, 2023 SCORE: _________

INSTRUCTION: In your Own Words, explain the following statements:

1. What is the importance of studying Management?

According to the definition, management is the process of planning and organizing such
activities to achieve a specific goals in the most efficient and effective manner as possible. If we
are going to go by the definition, management is something that we do in order to accomplish a
particular objective and to increase the likelihood that we will accomplish our goals more
successfully. Management is a skill that we, as individuals, may develop to make carrying out
such tasks easier to accomplish a particular goal. For instance, effective time management can
assist us as students in achieving better marks.

The essential idea is that studying management is crucial since we will utilize it not only
as students in the present but also in our future careers. Learning management and
understanding how to use it correctly can increase our competence and promote a productive
environment. The best part about studying management is that it includes arranging, even if you
have the right idea. Management puts everything in order. You may become a good leader,
businessperson, and productive individual by studying management.

Let’s focus on business, management aids in the expansion and development of the
business. The company expands when objectives are met. When there is effective management,
employees can reach their potential. Business becomes extremely challenging without
management. In the business, there is a distinct leadership structure. Everyone is made aware of
their responsibilities, as are the connections between all of the business's departments. Finally,
learning about management can teach us how to uphold discipline through the distribution of
responsibility. This promotes and preserves a better working environment. Management
improves adaption as well.
2. State a long term goal and discuss how you are planning to achieve this.
Being a certified public accountant is the long-term objective I currently have. Due to
the fact that it is my desire I have always wished to accomplish it. I believe that obtaining it will
provide me satisfaction and contentment in life. More significantly, I believe that someday, I will
be able to honor my parents' sacrifices by becoming a successful CPA and making them
extremely proud of me. The real question here is that how I am planning to achieve it?

My first response is fairly straightforward, I believe I will alter my study methods. I've
noticed recently that I procrastinate frequently, especially when I have a quiz coming up, so I
need to learn more about time management. Also, I intend to exercise or go running once a
week to help me manage my stress because I really believe that intelligence is worthless if
mental health is compromised. You might think that my plans are not strong enough to
accomplish my goal, but they are just the beginning of my efforts to really hone my skills in
accomplishing goals.

These are the major strategies I'll use to achieve my objective. First, I'll make sure I pass
this semester and the following ones as an accounting student. For me to graduate and reach
the pinnacle of my accomplishment, I will work hard to properly understand the concepts of
accounting courses. Moreover, after I graduate, I'll take the CPALE, which will allow me to finally
accomplish my objectives in God's perfect timing and will.

3. Briefly discuss four Management Approaches. (Traditional, Scientific, Humanistic and Modern)
Every element of society uses management, and it has a direct impact on how we live
our daily lives. Traditional management, scientific or quantitative management, humanistic or
human relations management, and modern management are the four types of management
approaches. I will briefly address it here so that you are aware of this methods or approaches.
Let's start with traditional/ classical management.
Traditional ideas regarding organizations are represented by the classical approach. It is
modelled after a military and industrial organization. Organizational structure and management
are the main topics of the theory. Via specialization, structure, scalar, functional processes, and
span of control, the traditional method focuses on the anatomy of formal organizations. In
Scientific/Quantitative approach, many analytical and numerical tools are included into
management procedures by the quantitative approach to management. The objective is to have
particular formulas that information can be plugged into to give the best response to frequent
management questions. Let’s move on to humanistic/human relations approach.
Human relations approach that claims that fostering strong social connections among
coworkers and valuing each individual employee can boost productivity and motivation among
staff members. It contends that enhanced working circumstances (empowerment, participation,
and favorable treatment) result in higher output. Lastly the Modern management, to evaluate
organizational performance, modern management theory employs mathematical and statistical
techniques. Also, it enhances decision-making, productivity, objectivity, and flexibility.
4. Define Management Science and how it affects our modern world
Management science is a vast and comprehensive study of how institutions,
organizations, governments, and other sorts of organizational entities solve difficult problems
and make strategic decisions. Engineering, business, management consulting, and other areas
are closely tied to it. By finding optimal or nearly optimal solutions to challenging decision-
making problems, it aims to increase an organization's capacity to make wise and accurate
management decisions. It does this by utilizing a variety of scientific research-based principles,
strategies, and analytical techniques, such as mathematical modeling, statistics, and numerical
algorithms.