The Management Science Process consists of 1) understanding the problem, 2) building a representative model, 3) solving the mathematical model and, lastly, 4) monitoring/communicating the outcome. Discuss this process and the importance of each.
When is management science generally applied? What kinds of problems do management scientists face? Provide an example of a “problem” an organization you have been involved with has faced that did, or could have benefited from a management science analysis.