Answer:
Applied Management Science therefore ensures that decisions made by business managers are products of strategic thinking processes and are aimed at improving operations. In other words, it offers practical information in decision making that is an indicator to success in business.
Explantion :
Management on the other hand refers to the control of activities within the set guidelines and policies for the achievement of specific objectives. Science is the identification, observation, investigation, and explanation of theoretical phenomena. Applied Management Science therefore refers to the science of solving business problems. It assists business managers in making optimal, informed, and satisfactory decisions.
Business managers face complex and dynamic challenges that not only demand forethought, but also call for optimal and informed decisions making to provide solutions to business challenges on daily basis. This calls for developing complex scientific models capable of analyzing the situations and providing indicators that assist managers in decision-making.
Applied Management Science therefore ensures that decisions made by business managers are products of strategic thinking processes and are aimed at improving operations. In other words, it offers practical information in decision making that is an indicator to success in business.
The process of mainstream decision-making has not received mainstream attention because of the dynamic and evolving nature of business challenges. The development of a universally accepted decision making model becomes a big challenge because business decisions change and remain unique within the each business set-up and culture.
Despite the fact that business, education, and psychology communities embrace decision aides, the public may not adopt the application of these aides. This is because most decisions made by the public are personal and may not demand complex processes to determine their levels of accuracy.
