Understanding and mastering the methods of Management Science: part of the Master in Management
From 09 until 13 March the Master in Management students took part in the Management Science course. The 4-day course was taught by Joris Stadhouders, who provided an interesting course through combining theory and case studies.
Management Science is used for problem solving and cost-reducing or profit maximizing decision making. It’s an interdisciplinary study of managerial optimization problems, using practical mathematical methods and tools. The course gave the Master in Management students an insight into the various methods used in Management Science.
It’s an IT supported approach, which can help managers and executives formulate and assess potential decisions, perform what-if analysis and get an understanding of what may be a good strategy under different scenarios. This computer software can help with scenario management and sensitivity analysis. The method is also useful to see how systems are developing through time.
Moreover, Management Science is important for many organizations, regardless of the sector they operate in. Through the approach and tools that Management Science offers, better decisions can be made, problems resolved and opportunities taken while uncertainties are addressed and risks are reduced.
Joris Stadhouders who is an Assistant Professor of Management Information Systems at MSM taught the management students new ways of thinking, to build and use mathematical decision models and equipped them with insights and skills to successfully deploy the approaches of management science.
About the Master in Management
The MSM Master of Arts in Management (MM) program is a one-year full-time master’s program for recent graduates and young professionals (< 3 years of working experience) with the ambition to manage people and processes with success in any organization, country or context.
Our MM provides you with a first necessary step to fast-forward your career to higher levels by providing you with a solid foundation in the practice and theory of management in a fast-changing global world. During this course you will be provided with the opportunity to understand how to steer your organization to high performance in a diverse and multicultural international business context. You will learn from experienced faculty, international companies and fellow participants from different cultural, business and study backgrounds.
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