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Evolution of Management Science

Evolution of Management Science

Management science, distinct from scientific management, emerged after World War II, focusing on problem-solving and decision-making in organizations.

Herbert Simon, a prominent scholar in this field, emphasized bounded rationality and maximal satisfaction in decision-making. Management science aims to make decisions based on objective criteria, though Simon acknowledged the limitations of human rationality. He stressed the importance of logic in decision-making, bridging the gap between science and art in management.

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