Editing Management science (section)

== Overview ==
Management science is concerned with a number of areas of study:  
* Developing and applying [[scientific modeling|model]]s and [[concept]]s that may prove useful in helping to illuminate [[management]] issues and solve managerial problems. The models used can often be represented mathematically, but sometimes computer-based, [[visual]] or [[Speech|verbal]] representations are used as well or instead.<ref name= "LS">[http://www.lums.lancs.ac.uk/departments/ManSci/DeptProfile/WhatisManSci/ What is Management Science?] {{Webarchive|url=https://web.archive.org/web/20090725065138/http://www.lums.lancs.ac.uk/departments/ManSci/DeptProfile/WhatisManSci/ |date=2009-07-25 }} Lancaster University, 2008. Retrieved 5 June 2008.</ref> 
* Designing and developing new and better models of organizational excellence.
* Helping to improve, stabilize or otherwise manage [[profit margin]]s in enterprises.{{cn|date=January 2023}}

Management science research can be done on three levels:<ref>[http://www.jbs.cam.ac.uk/programmes/mphil_mgtscience/mgtresearch.html What is Management Science Research?] {{Webarchive|url=https://web.archive.org/web/20081104031808/http://www.jbs.cam.ac.uk/programmes/mphil_mgtscience/mgtresearch.html |date=2008-11-04 }} University of Cambridge 2008. Retrieved 5 June 2008.</ref>
* The fundamental level lies in three mathematical disciplines: [[probability]], [[Optimization (mathematics)|optimization]], and [[dynamical systems theory]].
* The modeling level is about building models, analyzing them mathematically, gathering and analyzing data, implementing models on computers, solving them, experimenting with them&mdash;all this is part of management science research on the modeling level. This level is mainly instrumental, and driven mainly by [[statistics]] and [[econometrics]]. 
* The application level, just as in any other [[engineering]] and [[economics]] disciplines, strives to make a practical impact and be a driver for change in the real world.

The management scientist's mandate is to use rational, systematic and science-based techniques to inform and improve decisions of all kinds. The techniques of management science are not restricted to business applications but may be applied to [[military]], medical, [[public administration]], charitable groups, political groups or community groups. The norm for scholars in management science is to focus their work in a certain area or subfield of management like public administration, [[financial management|finance]], [[calculus]], [[information management|information]] and so forth.<ref>{{cite journal |title=Sub-disciplines in Management Sciences: Review of Classifications in Polish and Worldwide Research Practice |journal=International Journal of Contemporary Management |date=2018 |volume=17 |issue=1 |pages=137–156 |doi=10.4467/24498939IJCM.18.008.8387 |url=https://www.ejournals.eu/pliki/art/11481/ |access-date=30 March 2023|doi-access=free }}</ref>