Business Studies XII Content

Unit 1: Nature of Management
Unit 2: Principles of Management
Unit 3: Planning
Unit 4: Organizing
Unit 5: Decision-Making
Unit 6: Direction
Unit 7: Motivation
Unit 8: Leadership
Unit 9: Supervision
Unit 10: Communication
Unit 11: Co-ordination
Unit 12: Controlling
Unit 13: Risk Management and Insurance
Unit 14 : Emerging Management Concepts
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Management as science, art and profession



Management as a science

Management as a science, it has systematized body of knowledge, concept and principles. Management deals different problems and issues by using quantitative models and decision-making techniques and issues by using quantitative models and decision-making techniques to arrive at right decisions. As a science management contains concepts, hypothesis, theories, experimentation all verified and tested accordingly to clarify about cause and effect relationship between many facts or events occurred.

→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 relates itself to cause and effect relationship. Results of modern management are acceptable to all employees. Good and efficient management system enhances the purity in organization.

Management as an art

Management includes the activities of planning, organizing, direction, decision-making, regulating and integration of all resources which requires special skill and art. According to Mary Parker,” management is an art of getting things done through others. Management enables a manager to get thongs done through employees.”

→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

→managerial activities are practices by using knowledge, ability and skill to solve the problems.

Management as a profession

In general sense, profession means occupation. Occupation is rendering service. Similarly, management is a distinct profession backed up by specialization. As a professional activity all management efficient people should have academic qualification and personal qualification from anybody. Here profession is not only an occupation of specialized skill but these skills should be applicable in large scale and interest of society as a whole.

→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

→organizations should be responsible towards society. An organization gets its birth in a society, lives and grows in a society and finally liquidates or dissolves in a society. Thu, an organization has responsibility towards members of society such as consumer, investors, employees and shareholders.
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