ADM2302- Midterm Exam Guide - Comprehensive Notes for the exam ( 13 pages long!)

• School: University of Ottawa
• Department: Administration
• Course: ADM 2302
• Professor: Jasmin Manseau

Document Summary

Management science is a discipline that attempts to aid managerial decision making by applying a scientific approach to managerial problems that involve quantitative factors. This has a whole body of knowledge and techniques that are based on a scientific foundation. The management scientist must diagnose a managerial problem then choose the appropriate management science technique to apply. The cognizant manager makes the final decision as to conclusions from this analysis to accept. Management science begun its rapid development during wwii with the name. This name was chosen because of the teams of scientists in wwii were doing research on how to manage military operations. Business analytics tries to aid managerial decision making but with particular emphasis on three types of analysis. The use of data to predict what will happed in the future. The use of data to prescribe the best course of action. Managers are the ones that make managerial decisions, not management scientists.