INTRODUCTION

TO
MANAGEMENT
SCIENCE
SHAREEN A NAVARRO, DIT
OBJECTIVES:
AT THE END OF THIS LESSON, YOU
WILL BE ABLE TO:
▪ Get acquaint with Management
Science, and its application to
business management;
▪ Relate Management Science to the
accounting course;
▪ Understand the basics of the
scientific method approach; and
▪ Apply the scientific method
approach to business situations
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WHAT IS MANAGEMENT
SCIENCE?
• According to Bernard Taylor
(2013), it is a scientific
approach to solving
management problems

• Encompasses a number of
mathematically oriented
techniques and a logical
approach to problem solving

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WHAT IS MANAGEMENT
SCIENCE?
• Can be used in a variety of
organizations to solve many
different types of problems

• Also referred to as operations

research, quantitative
methods, quantitative
analysis, and decision
sciences

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HOW DOES MANAGEMENT SCIENCE RELATE TO
ACCOUNTING?

It is a discipline whose
application to resolving
business problems is of great
significance.

Accounting provides financial

information that are useful in
decision-making
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TOOLS AND TECHNIQUES IN MANAGEMENT SCIENCE

• Breakeven analysis
• Linear Programming
• Forecasting
• Queuing Theory
• And a Lot more

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SCIENTIFIC METHOD APPROACH

Observation Understanding the situation

How is it
done? Pinpointing the problem and
Problem Definition
setting objectives
Abstracting mathematical
Model Construction
representation of problem

Solutions Logical resolve to of a problem

Implementation Execution of the solution

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THANK YOU!