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Management: Art orScience

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Road Map Management ? Management as Art.

Management as Science.

Differencebetween Art & Science. What required for success ?

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What is Management ?

Management is optimal use ofresources in order to achieveCorporate goal.

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Management is the art of getting thingsdone through people." Mary ParkerFollett. It is the process of leading anddirecting all or part of an organization,often a business, through the deploymentand application of resources (human,

financial, material, intellectual orintangible).

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Nature of ManagementManagement: Science or Art There is Controversy whether management is Science or

art.

As management is multidisciplinary and required knowledgeand concepts of various fields.

Management principle are relative, not absolute and must beaccording to the condition of organisation.

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Management as Science Science :- it is a body of systematised knowledge, based onlogical consistency, systematic explanation, criticalevaluation & experimental analysis.

According to Frederick Winslow Taylor the best managementis true science, resting upon clearly defined laws

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Management as Art Art is related with the bringing of a desired result throughapplication of skills.

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Professional In past it is considered as a person who is good attheoretical knowledge will give good results.

He must have a good knowledge of facts, methods andprocedures.

But the companies or organisations going withthis principles have to pay a greater price and gone under agreat loss.

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With passing of time thinking has changed

The power is shifted to a new class of person known asmanagers

They are required for growth and diversification that arerequired for growth of organisation.

Theory can be mastered from practice only, but practicecan't be taken care with just theory (or too little theory!)

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