Management science or art

MANAGEMENT - SCIENCE OR ART
MANAGER VS ENTREPRENEUR
R.ArunKumar,AP/Mech,RIT

FUNCTIONS OF MANAGEMENT:
 Henri Fayol, a French businessman, first proposed in the
early part of 20th century the various functions of a manager.
1) Planning
2) Organizing
3) Commanding
4) Coordinating
5) Controlling

FUNCTIONS OF MANAGEMENT:
 In recent days these functions have been condensed to four:
1) Planning
2) Organizing
3) Leading
4) Controlling

1. Planning:
Defining the goals, establishing strategy and developing
plans to coordinate activities.

2. Organizing:
Determining what needs to be done, how it will be done
and who is to do it.

3. Leading:
Motivating, leading any other actions involved in dealing
with people.

4. Controlling:
Monitoring activities to ensure that they are
accomplished as planned.

FEATURES OF MANAGEMENT:
 Group activity
 Goal oriented
 Factor of production (org)
 Invisible force
 Integrative Process
 Social process
 Eternity
 Universality
 Intellectual exercise
 Profession

MANAGEMENT – AN ART OR SCIENCE
Or

MANAGEMENT – AS A SCIENCE
 Science is a systematic body of knowledge relating to a
specific field of study that contains general facts which
explains a phenomenon.
 It establishes cause and effect relationship between two or
more variables and underlines the principles governing their
relationship.
 These principles are developed through scientific method of
observation and verification through testing.

Universally accepted principles:
 Scientific principles represent basic truth about a particular
field of enquiry.
 These principles may be applied in all situations, at all time
& at all places.

Experimentation and observation:
 Scientific principles are derived through scientific investigation &
researching i.e. they are based on logic.
 Management principles are also based on scientific enquiry
and observation.
 They have been developed through experiments and practical
experiences of large number of managers.
Example:
 The principle that earth revolves the sun has been scientifically
proved.
 It is observed that fair remuneration to personal helps in
creating a satisfied work force.

Cause and effect relationship:
 When metals are heated, they are expanded. The cause is
heating & result is expansion.
 Similarly if workers are given bonuses, fair wages they will
work hard but when not treated in fair and just manner, reduces
productivity of organization.

Test of validity and predictability:
 Validity of scientific principles can be tested at any time or any
number of times i.e. they stand the time of test.
 Moreover future events can be predicted with reasonable
accuracy by using scientific principles.
Examples:
The chemical combination of Hydrogen and Oxygen will give
water.
Similarly, principle of unity of command can be tested by
comparing two persons – one having single boss and one having two
bosses, the performance of first person is better than second.

Conclusion:
 The reason for the inexactness of science of management is
that it deals with human beings and it is very difficult to predict
their behavior accurately.
 Since it is a social process, therefore it falls in the area of
social sciences.
 Ernest Dale has called it as a Soft Science.

MANAGEMENT – AS AN ART
 An art requires the qualities: practical knowledge,
personal skill, creativity, perfection through practice,
goal oriented.

Practical Knowledge:
 Every art requires practical knowledge therefore learning of
theory is not sufficient.
 It is very important to know practical application of
theoretical principles.
Example:
 A manager can never be successful just by obtaining degree
in management; he must have also know how to apply various
principles in real situations by functioning in capacity of
manager.

Personal skill:
 Although theoretical base may be same for every artist, but each
one has his own style and approach towards his job.
 That is why the level of success and quality of performance differs
from one person to another.
Example:
 Several qualified painters exist but M.F. Hussain is recognized
for his style. Similar in case of managers.

Creativity:
 Every artist has an element of creativity in line.
 Management is also creative in nature like any other art.
 It combines human and non-human resources in an useful
way so as to achieve desired results.
Example:

Perfection through practice:
 Practice makes a man perfect.
 Every artist becomes more and more proficient through constant
practice.
 Similarly managers learn through an art of trial and error
initially but application of management principles over the years
makes them perfect in the job of managing.

Goal oriented:
 Every art is result oriented as it seeks to achieve concrete
results.
 In the same manner, management is also directed towards
accomplishment of pre-determined goals.
 Managers use various resources like men, money, material,
machinery & methods to help in the growth of an organization.

MANAGEMENT – AN ART AS WELL AS SCIENCE
 It is considered as a science because it has an organized body
of knowledge which contains certain universal truth.
 It is called an art because managing requires certain skills
which are personal possessions of managers.
 Science teaches to ’know’ and art teaches to ’do’.
 A manager to be successful in his profession must acquire the
knowledge of science & the art of applying it.
&

MANAGER VS ENTREPRENEUR
VS

BASED ON FUNCTIONS
Manager
 Performs the basic functions
such as planning,
organising, directing and
controlling.
Entrepreneur
 Main function is to reform or
revolutionize the factors of
production such as:
land, capital, labour,
organization, enterprise.

BASED ON EDUCATION
Manager
 A person can become a
manager by the acquisition
of knowledge through
formal education in
business management
(MBA)
Entrepreneur
 They learn by trial and
error method.
 They learn from their own
mistakes and mistakes of
others.
 They are self made.

BASED ON JOINING THE ORGANIZATION
Manager
 They join the business only
after it is established
Entrepreneur
 They are founders of the
organization.

BASED ON WORK NATURE
Manager
 They sets objectives,
policies, procedures,
rules, strategies and
formal communication
network.
Entrepreneur
 They spot out
opportunities, raise
capital, hire labour,
arrange supply of raw
materials, finding site and
introduce new techniques.

BASED ON DESIRE
Manager
 They desire to produce best
results in the shortest time
and least cost and to
achieve profit and growth.
Entrepreneur
 They are the owners of the
business.
 They visualizes a business,
take bold decisions to
establish and undertaking
and bear the risk of
uncertainties.

BASED ON DIFFERENT NAMES
Manager
 Disturbance handler,
 Resource allocator,
 Negotiator,
 Spokesperson,
 Liaison officer and
 Disseminator
Entrepreneur
 Risk taker,
 Uncertainty bearer,
 Problem solver,
 Innovator and
 Idealist.

BASED ON FAILURE
Manager
 Failure of a manager results
in little loss to his career
and he can join another
company.
Entrepreneur
 Leads to great loss of
money and career.

BASED ON WORK LIMITS
Manager
 Manager has to work
within the framework of
policy guidelines laid down
by the entrepreneur.
Entrepreneur
 He/she has full freedom of
work.
 He has the chance of
working independently and
can show their talent.

BASED ON SALARY
Manager
 Managers are entitled to
receive salaries for their
job.
Entrepreneur
 Supplies all capital needed
to run the organization.
 He/she enjoys the profit of
the business

BASED ON EXPERTISE
Manager
 Managers are specialists.
 They are focused on
managing and growing a
business.
Entrepreneur
 They are generalists.
 They need to know about
everything.

BASED ON REWARDS
Manager
Rewards come in the form of
 Salaries,
 Promotions,
 Job title,
 Bonus and incentives.
Entrepreneur
 Capital gains,
 Asset acquisition and
 Cash flow

BASED ON DECISION MAKING
Manager
 Cannot make quick
decisions.
 Need some consultants.
Entrepreneur
 Can make quick decisions.
 They need not consult with
anyone while making
decisions.

BASED ON LIABILITIES
Manager
 Managers have no
liabilities
Entrepreneur
 Payments dues for loans,
salaries for staff are the
liabilities.

BASED ON RISK
Manager
 Do not like to take risk.
Entrepreneur
 They thrive on risk and
uncertainty.

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