Presenters: Anand Sharma Pooja Rathi Aman Dolly Bhateja

MANAGEMENT - AN ART OR A SCIENCE

Definition of Management

Acc. To HENRY FAYOL , Management is to forecast, plan, organize, command, coordinate and control. Acc. To GEORGE R. TERRY, Management is a distinguish process consisting of planning, organizing, actuating and controlling performance to accomplish the objectives by the use of people and resources.

Why Do We Need Management?

Transforming input into output in the resources either good or services Getting things done within the stipulated time by motivating others Deals with people who have understanding, sensitivity, knowledge, capability, responsibility, maturity

Management: Art or Science?

We define art as "skill in conducting any human activity" and science as "any skill or technique that reflects a precise application of facts or a principle." Management is both art and science.

It is the art of making people more effective than they would have been without you. The science is in how you do that. There are four basic pillars: plan, organize, direct, and monitor.

It is the oldest of arts and youngest of science, because it is of dynamic nature

Basic Management Pillars

Management as an ART
It is the art of getting things done Personal skill Practical Knowledge Result Oriented Approach Regular Practice Creativity

ART

Art uses the known rules and principles; experience; expertise to achieve desired results Effective Management can be successfully adopted from past experience and cooperation of staff and it can be acquired by practising theoretical knowledge skilfully

Management as a SCIENCE

Systematized body of knowledge Continued Observation Universal Application Cause and effect relationship Validity and Predictability

SCIENCE

Systematic and organized knowledge based on scientific methods of observation It has logical principles which are well defined and universally acceptable

Conclusion

It is neither a pure art nor a pure science, infact they both are complimentary to each other. It has got two faces like a coin; on one side it is an art and on the other it is science It has got scientific principles which constitute the elements of science and skill and talent which are the attributes of art

As Cossa Said art requires science and science requires art

Conclusion

Required constant practice as in the case of medicine, engineering and accountancy Mere knowledge of results will not fetch results Understanding human behavior, tactfulness, vision, pragmatism, creativity, compassion towards staff Team spirit are all needed

Therefore, Management is both a science and an art.

THANK YOU

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