Management as a Science :
- It is a systematized body of knowledge that explains certain general truths or the operation of the general laws.
- Features :
- Systematized Body of Knowledge
- Principles-based on Experimentation
- 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 :
- Existence of theoretical Knowledge
- Personalized application
- Based on continuous practice
- Creativity.
- Management as a Profession :
- Occupation backed by training and specialized knowledge.
- Features :
- Well defined body of knowledge
- Restricted entry
- Professional association
- Ethical code of conduct
- 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