An Introduction to Management Science, 2012(13th) Edition

An Introduction to Management Science, 2012(13th) Edition

Authors:
David R. Anderson
University of Cincinnati
Dennis J. Sweeney
University of Cincinnati
Thomas A. Williams
Rochester Institute of Technology
Jeffrey D. Camm
University of Cincinnati
Kipp Martin
University of Chicago

2012 South-Western, a part of Cengage Learning
Pages: 1045

Management science, an approach to decision making based on the scientific method,
makes extensive use of quantitative analysis. A variety of names exists for the body of
knowledge involving quantitative approaches to decision making; in addition to management
science, two other widely known and accepted names are operations research and
decision science. Today, many use the terms management science, operations research,
and decision science interchangeably.
The scientific management revolution of the early 1900s, initiated by Frederic W.
Taylor, provided the foundation for the use of quantitative methods in management.
PROBLEM SOLVING AND DECISION MAKING
Problem solving can be defined as the process of identifying a difference between the
actual and the desired state of affairs and then taking action to resolve the difference.
For problems important enough to justify the time and effort of careful analysis, the problem solving
process involves the following seven steps:
1. Identify and define the problem.
2. Determine the set of alternative solutions.
3. Determine the criterion or criteria that will be used to evaluate the alternatives.
4. Evaluate the alternatives.
5. Choose an alternative.
6. Implement the selected alternative.
7. Evaluate the results to determine whether a satisfactory solution has been obtained.
Decision making is the term generally associated with the first five steps of the problem solving
process. Thus, the first step of decision making is to identify and define the problem.
Decision making ends with the choosing of an alternative, which is the act of making
the decision.