Management

Management ::
A
A Science
Science or
or An
An Art
Art
Management as a Science
Meaning :
Science refers to that systematic body
of knowledge which is acquired on the
basis of observation and experiments
and verification of this knowledge is
possible.
 Definition:

“Science is a systematized body of

knowledge which establishes
relationship between cause and
effect.”

-Keynes
 Testing of Mgt. as a
Science
Systematized Body of Knowledge
Based on collection of Facts, Analysis &
Experiments
Universal Application
Cause and Effect Relationship
Verification of Validity and Prediction
of Results Possible
 Management as an Art
Meaning :

Art refers to the skill to put into

action, a systematic body of
knowledge, for the achievement of a
specific task.
 Definition :

“Art is bringing about of a desired

result through application of skill.”

-G.R. Terry
Testing of Mgt. as an Art
Personal Skill
Practical Knowledge
Concrete Result-Oriented Approach
Development Through Practice
Creative Power
 Management as a
Profession
Meaning :
• It is an occupation for which specialized
knowledge, skills and training are required
and the use of these skills is not meant for
self satisfaction but these are used for
larger interests of the society and the
success of the use of these skills is not
measured in terms of money alone.
Characteristics:

Existence of knowledge
Acquisition of knowledge
Professional Association
Ethical Codes
Service motive
 Testing of Mgt. as a
Profession
Body of Specialized Knowledge & Technique.
Formalized Methods of Acquiring Training &
Experience
Establishment of Representative Professional
Association
Code of Conduct
Priority of Service over Economic Consideration