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  • Why Management Now A Days?: What Is Science?

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    Management involves coordinating the activities of a multi-disciplinary team to efficiently achieve goals. While ideas are often conceived by individuals, realizing those ideas requires a large team whose work must be organized. Management fulfills this role of coordination but is unpredictable because it involves people, whose behavior is unpredictable. Management can be considered both a science and an art - it involves established formulas and techniques but also requires applying those strategies flexibly to real-life situations. The field of management is relatively new, with the first business schools founded in the late 19th century and growing rapidly in the 20th century.

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    Management involves coordinating the activities of a multi-disciplinary team to efficiently achieve goals. While ideas are often conceived by individuals, realizing those ideas requires a large team whose work must be organized. Management fulfills this role of coordination but is unpredictable because it involves people, whose behavior is unpredictable. Management can be considered both a science and an art - it involves established formulas and techniques but also requires applying those strategies flexibly to real-life situations. The field of management is relatively new, with the first business schools founded in the late 19th century and growing rapidly in the 20th century.

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    Why Management Now A Days?: What Is Science?

    Uploaded by

    adeeeeeeeeeeeeeel
    Management involves coordinating the activities of a multi-disciplinary team to efficiently achieve goals. While ideas are often conceived by individuals, realizing those ideas requires a large team whose work must be organized. Management fulfills this role of coordination but is unpredictable because it involves people, whose behavior is unpredictable. Management can be considered both a science and an art - it involves established formulas and techniques but also requires applying those strategies flexibly to real-life situations. The field of management is relatively new, with the first business schools founded in the late 19th century and growing rapidly in the 20th century.

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    Lecture 1

    Why Management now a days?

    Most of the time ideas are conceived by individuals.

    But to convert those ideas into reality and to take them into market you need a large multi-talented team.

    The activity of these team members need to be coordinated and organized.

    Because the activities of the well-organized team gives greater leverage then activities of individuals.

    Therefore we need management to coordinate the activities of multi-disciplined team for efficient outcome.

    Why Management is unpredictable?

    Management is often divided into management of people and management of tasks

    However, tasks are also performed through people.

    So ultimately everything leads to people.

    And the behavior of the people is mostly unpredictable, thus management is also unpredictable.

    What is Management?
    Management is the process of creating and maintaining an environment in which different individuals working together
    in group efficiently achieved the desired objectives.

    Is Management is a Science or Art?


    What is science?
    Science includes different formulas, techniques, methods, laws and strategies based on research and analysis.
    Management is a science because it includes different formulas, techniques, methods, laws and strategies based on
    research and analysis.

    What is Art?
    ART is the ability to apply anything, so Management is an ART because it depends upon an individual that how he apply
    these formulas, techniques, and laws to handle real life situations.

    History of Management

    First business school was founded at the University of Philadelphia in 1881.


    After 100 years there are more than 500 business schools in USA.
    The first two British business schools were established in 1965 in London/Manchester.
    The American management association (AMA) was founded in 1923 in UK. The institute of management
    formed in 1948.
    Management as a practice is not new but management as a profession is relatively new.
    A professional is the person with minimum

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