Why an MPhil in Management Science & Operations?
Management Science (MS) is a multi-disciplinary field that is concerned with the scientific study of management practice. The unifying aspect of MS is its analytical focus, often supported by mathematical models. MS uses tools from many foundational fields, specifically from economics, mathematics, statistics, operations research, but also from psychology and sociology.
Operations Management (OM) is concerned with the effectiveness and efficiency of the processes that underlie the creation, delivery and disposal of goods and services, the processes that match supply with demand. OM research addresses the design and management of these processes, within and between organisations. Research topics include supply chain management, operational risk management, revenue management, new product development and healthcare management. OM research also addresses the relationship of the operations function to other business functions, such as human resource management, marketing and strategy. The ultimate goal is to develop knowledge that helps organisations create and deliver goods and services more effectively and efficiently.
Marketing is primarily concerned with how firms initiate and maintain relationships with customers. As such, it shares many common themes and methods with Management Science and Operations Management, specifically how firms design, manufacture and distribute goods and services and how to optimise these processes. Research topics include new product development, channels of distribution, salesforce design and compensation, pricing, and the promotion of goods and services. The methods that Marketing shares with MS and OM include mathematical and econometric modelling, lab and field experiments and large sample surveys. Finally, like MS and OM, marketing also draws from and influences other social sciences like economics, psychology and sociology, as well as other management disciplines such as finance, strategy and organisation behaviour.
Innovation research within Management Science studies the innovation process, from the inception of ideas to their selection and shaping as projects, and their execution, often in collaboration with partner organisations. The goal is to understand how companies can optimise this process and use it as the engine of a sustainable growth strategy. This research links the process and flow paradigms of traditional OM with mainstream strategy research.
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