Study Guides/Commerce/Nature of Management

Study Guide · Commerce

What is the Nature of Management?

In Class 12 Business Studies, the very first chapter asks a fundamental question: What exactly is the Nature of Management? Is it an exact science like physics, a creative art like painting, or a strict profession like medicine?

Question (Click to Flip)

What is the nature of management?

Answer

The nature of management is that it is both an inexact science (having established principles) and an art (requiring creative and practical application of those principles to deal with unpredictable human behavior).

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Key Facts

As a Science: It has systematic principles (Inexact, because it deals with humans).

As an Art: It requires creative, personal, and practical application of those principles.

As a Profession: It is not a full-fledged profession because a specific degree is not legally mandatory to be a manager.

1. Management as a Science

Science is a systematized body of knowledge based on logical observations and experiments.

Yes, it is a science: Management has its own systematic theories and principles (like Fayol's and Taylor's principles) which have been developed over years of observation.
But it is an 'Inexact' Science: Unlike physics or chemistry, management deals with human behavior, which is unpredictable. Therefore, its principles cannot be as rigid or perfectly exact as the laws of physics.

2. Management as an Art

Art is the practical, creative, and personalized application of existing knowledge to achieve desired results.

Yes, it is an art: Just like two painters can paint the same subject differently, two managers can use the same management principles in completely different, creative ways to motivate their specific teams and solve unique problems.

3. Management as a Profession

A profession (like being a doctor or lawyer) requires specialized knowledge, a formal degree, and a strict code of conduct.

Not fully a profession yet: While management is moving towards becoming a profession (MBA degrees are popular), it is not a strict profession. You do not legally need an MBA degree to become a manager, unlike a doctor who legally needs an MBBS degree.

Conclusion

The nature of management is a beautiful blend. It is both an Art and an Inexact Science.

Questions and Answers

What is the nature of management?+

The nature of management is that it is both an inexact science (having established principles) and an art (requiring creative and practical application of those principles to deal with unpredictable human behavior).

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