Importance Of Management Science

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The value of Management “Management is an art of knowing what to do, when to do and see that it is done in the best and cheapest way”. F.W. Taylor Why has the study of Management Science become so relevant in the last few decades? The purpose of this research is to clarify the role that Management Science plays nowadays. Firstly, this paper analyses management’s origins, explaining how this new field of study was created, as a consequence of an urgent need, which combined multiple scientific fields (Larnder, 1984). Secondly, the paper will investigate the skills that a good manager should have, referring to the managerial skills that Robert Katz and Heinz Weihrich provided, which are the technical skill, the human skill, the conceptual skill…show more content…
During the II World War in Britain, the Operational Research Section recruited scientists and engineers to develop a radar that could defend the territory from the German air attack. So these scientists had to face some issues that were outside of their field of knowledge, hence they started to cooperate in the reciprocal aim of recognizing and clarifying operational problem as they grow. Consequently, many scientific branches have been called to answer this obligation, thus creating a new interdisciplinary science. Moreover, Management Science could be considered both an art and science: as practiced is an art, while the knowledge applied to practice may be attributed to as a science. A good manager is, who has the skill to apply well scientific theories to…show more content…
It acts as a driving force in business. Modern business is highly competitive and need efficient and capable management. It is through management that business activities are organized and conducted efficiently and objectives are achieved. A firm in fact, cannot survive without management, because management is its means of support. Management is concerned with acquiring maximum prosperity with minimum efforts. It is essential wherever group efforts are required to be directed towards achievements of common purposes. In this management conscious age, the significance of management can hardly be over emphasized. There is no more crucial area of human activity than management since its function is that of getting things done through others. In conclusion management sets up and preserves an environment to higher efficiency and

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