Importance of History
It has been said by Lord Bolingbroke, that "History is Philosophy teaching by example;" and, before Bolingbroke, Shakespeare has said:

"There is a history in all men's lives,
Figuring the nature of the times deceasd;
The which observ'd, a man may prophesy,
With a near aim, of the main chance of things
As yet not come to life, which in their seeds,
And weak beginnings, lie entreasured.
Such things become the hatch and brood of time;
And, by the necessary form of this,
King Richard might create a perfect guess,
That great Northumberland, then false to him,
Would, of that seed, grow to a greater.
Are these things, then, necessities?
Then let us meet them like necessities."

History is the basis on which civilization evolves. Society itself is constantly changing in a manner similar to Hegel's thesis, antithesis and synthesis. History, the thesis, is combined with the modern day antithesis and produces the future, synthesis. Without knowledge of the past, humans would be forced to constantly relearn scientific discoveries and warfare tactics in a continuing recycle. Comprehending antecedent events allow the observer to rectify erratum's and to develop and mature. Being aware of one's history allows them to understand where they are now, how they got there and where they can go in the future. History is the most relevant material for an individual (and a society) to analyze because it allows them to benefit from previous experiences and advance.
History is a combination of thesis, antithesis and synthesis in constant motion connecting the past, present and future. It can also be understood as a widespread, intricate web that is interlocked through cause and effect as well as accident. Simply put, understanding the past allows persons to learn from their mistakes. History also defines society and outlines culture. There is no more important subject than history to study, fore it educates while improving on previous errors and adding to omissions. A people who know their history, know their future

"History is indeed the witness of times, the light of truth" by Cicero

History is important because it helps us to understand the present. If we will listen to what history has to say, we can come to a sound understanding of the past that will tell us much about the problems we now face. If we refuse to listen to history, we will find ourselves fabricating a past that reinforces our understanding of current problems.
History teaches values. If it is true history, it teaches true values; if it is pseudo-history, it teaches false values. The history taught to our children is playing a role in shaping their values and beliefs-a much greater role than we may suspect
People tend to underestimate the power of history. If I want to convince you that capitalism is evil, I could simply tell you that capitalism is evil, but this is likely to have little effect on the skeptical. This frontal attack is too crude. If, however, I disinterestedly tell you the history of capitalism, nonchalantly listing all the atrocities attributable to it, I am much more likely to achieve my goal. I can leave a lasting impression that will evoke revulsion at the mere mention of the word.
War-fare is an example of evolution through the study of history. As time has passed, armies have transformed from leather helmets to horses to armor to even guided missiles today. After wars were fought tacticians would closely study the faults in the attack as well as the victories and losses of centuries ago. Even today military personnel still study Napoleonic and other foregoing strategies. Through the examination and study of historic battles, tactics and movements, methods have advanced.

History Is Important For Future Prediction
"A people who know their history, know their future."
History is important. In centuries past this statement would have seemed self-evident. Ancient cultures devoted much time and effort to teaching their children family history. It was thought that the past helps a child understand who he is. Modern society, however, has turned its back on the past. We live in a time of rapid change, a time of progress. We prefer to define ourselves in terms of where we are going, not where we come from. Our ancestors hold no importance for us. They lived in times so different from our own that they are incapable of shedding light on our experience. Man is so much smarter now than he was even ten years ago that anything from the past is outdated and irrelevant to us. Therefore the past, even the relatively recent past, is, in the minds of most of us, enshrouded by mists and only very vaguely perceived. Our ignorance of the past is not the result of a lack of information, but of indifference.
We do not believe that history matters. But history does matter. It has been said that:
"He who controls the past controls the future"
Our view of history shapes the way we view the present, and therefore it dictates what answers we offer for existing problems. Let me offer a few examples to indicate how this might be true.
"History is philosophy teaching by examples": By Thucydides
When you go into a doctor's office for the first time, you invariably have to fill out an information sheet that asks about your medical history. Some of these forms are very detailed, asking questions that require information from rarely accessed memory banks. Why does a doctor ask these questions? The doctor is trying to construct an accurate picture of your state of health. Your health is heavily influenced by the past. Your heredity, past behaviors, past experiences is all important determinants and clues to your present condition. Whenever you return to the doctor, he or she pulls out a file which contains all the notes from past visits. This file is a history of your health. Doctors understand very clearly that the past matters.
One of the children comes running up to his father, "Papa, Stefan hit me!" Another child comes close on the heels of the first, "I did not. You hit me!" As a parent father has to determine what happened. Usually father has to sort through conflicting testimony to get to the truth of the matter. Part of father's information is his knowledge of human beings in general; part of his information is the knowledge he has assembled over the lifetimes of these particular children. All of this is essentially history. It is knowledge about the past. He must have a good understanding of the past in order to know how to deal wisely with these children in the present. Any punishment or chastisement will depend on his reconstruction of what actually happened. The children realize this, and thus they present very selective histories of the event in an attempt to dictate his response. In these kinds of situations, children very clearly understand that history matters.
Importance of History in Management Sciences

Many organizations are focusing to improve the performance of individual to increase the overall productivity of the organization. Management sciences came into being in 19th century. Classical economists such as Adam Smith (1723 - 1790) and John Stuart Mill (1806 - 1873) provided a theoretical background to resource-allocation, production, and pricing issues. They did research and find different concepts of management sciences. These concepts play a very great role in the overall performance of the organization.
History of management sciences is very important because it:
Gave insights into interpersonal processes in organizations such as motivation and group dynamics.
Focused managerial attention on these processes.
Challenged the view of employees as tools and not resources.
Management science focuses specifically on the development of mathematical models. These models help organizations to try out various activities with the use of a computer. Modeling can help managers locate the best way to do things and save money and time. Operations management is an applied form of management science that helps organizations develop techniques to produce their products and services more efficiently.
Developed sophisticated quantitative techniques to assist in decision making. (developed from the previous history)
Models have increased our awareness of complex organizational processes and has aided in the planning and controlling processes.

Tags & Keywords : History