Business Studies XII Content
Management as science, art and profession
Management as a science
→management is systematic body of knowledge with theories, concepts, principles, experiments and functions which are systematically and logically analyzed
→the theories related to management are applicable and used in all types of organization irrespective of size, type, capital and so on. However, the usage and method may vary according to the situation of organization and time.
→all the managerial knowledge and practices are developed through various observations and experiments which are researched and experiment based
→tests of management theories are applied in situational and judgmental cases which help in prediction of future events.
→management is not a pure science but a social science
Management as an art
→management performs non programmed and non routine work using creativity and innovations
→management accomplishes any job within time and budget to achieve organizational goals with ease.
→managers apply their interest, ability and skills for solving contemporary issues through decisions which ignite their creativity. They can use their skills in field of job performance, solving exceptional issues, forming objectives etc.
→managers must posses practical knowledge not only theoretical acquired from experiences which helps in working according to situation
Management as a profession
→management is a separate discipline which includes research, observations and practice
→management requires formal education and training with updates of professionalism.
→professional managers must be joined in an association that follow rules and regulation according to the objectives set.
→a professional association requires code of conduct to maintain self discipline ethical behavior. Violation of code must be punishable