Nature Of Management

Management as a Science :

  • It is a systematized body of knowledge that explains certain general truths or the operation of the general laws.
  • Features
  1. Systematized Body of Knowledge 
  2.  Principles-based on Experimentation
  3.  Universal Applicability 

Management is an inexact science.

  • Management as an Art 
  • Art is the skillful and personal application of existing knowledge to achieve desired results.
  • Features : 
  1. Existence of theoretical Knowledge 
  2.  Personalized application
  3.  Based on continuous practice 
  4. Creativity.

  • Management as a Profession :
  • Occupation backed by training and specialized knowledge.
  • Features : 
  1. Well defined body of knowledge
  2. Restricted entry
  3. Professional association
  4.  Ethical code of conduct
  5.  Service motive

Nature/ Characteristics/Features

  • Integrates Group efforts
  •  Ensures unity of action
  •  Continuous process
  •  Pervasive function
  •  Responsibility of all managers
  •  Deliberate function

Need and Importance

  • Growth in size
  •  Functional Differentiation
  •  Specialization

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