LIMITATIONS OF THE SCIENTIFIC METHOD IN MANAGEMENT SCIENCE.

The article examines the problem of the universal applicability of the scientific method, with a particular focus on the ambiguous nature of management science. The author suggests that, while economists and businessmen endeavor to adhere to the scientific method, it is almost impossible to do so while studying the decision making processes. The five fundamental components of the scientific method, as offered by Professor Philip Morse, are presented. The author questions whether or not it is possible to convert human qualities into numerical data. Various techniques used by mathematical economists are examined. Personality tests are also discussed.