The document discusses the functions of management and whether management is an art or science. It provides the following key points: 1. Henri Fayol first proposed the main functions of management as planning, organizing, commanding, coordinating, and controlling. Today these are often condensed to planning, organizing, leading, and controlling. 2. Management has elements of both a science and an art. As a science, it establishes principles through observation and experimentation. However, dealing with human behavior requires personal skills and creativity, characteristics of an art. 3. Managers and entrepreneurs differ in their roles and responsibilities. Managers perform core functions and work within an organization, while entrepreneurs found organizations, take on risk, and

1. MANAGEMENT - S C I E N C E OR ART
MANAGER VS E N T R E P R E N E U R
R.Arun
Kumar,
AP/Mech,
RIT

2. FUNCTIONS O F 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
R.Arun
Kumar,
AP/Mech,
RIT

3. FUNCTIONS O F MANAGEMENT:
 In recent days these functions have been condensed to four:
1) Planning
2) Organizing
3) Leading
4) Controlling
R.Arun
Kumar,
AP/Mech,
RIT

4. 1. Planning:
Defining the goals, establishing strategy and developing
plans to coordinate activities.
R.Arun
Kumar,
AP/Mech,
RIT

5. 2. Organizing:
Determining what needs to be done, how it will be done
and who is to do it.
R.Arun
Kumar,
AP/Mech,
RIT

6. 3. Leading:
Motivating, leading any other actions involved in dealing
with people.
R.Arun
Kumar,
AP/Mech,
RIT

7. 4. Controlling:
Monitoring activities
accomplished as planned.
to ensure that they are
R.Arun
Kumar,
AP/Mech,
RIT

8. FEATURES OF MANAGEMENT:
 Group activity
 Goal oriented
 Factor of production (org)
 Invisible force
 Integrative Process
 Social process
 Eternity
 Universality
 Intellectual exercise
 Profession
R.Arun
Kumar,
AP/Mech,
RIT

9. MANA G E M E N T –AN ART OR S CIEN C E
Or
R.Arun
Kumar,
AP/Mech,
RIT

10. MANA G E M E N T –AS A S CIEN C E
 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.
R.Arun
Kumar,
AP/Mech,
RIT

11. 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.
R.Arun
Kumar,
AP/Mech,
RIT

12. 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.
R.Arun
Kumar,
AP/Mech,
RIT

13. 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.
R.Arun
Kumar,
AP/Mech,
RIT

14. 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.
R.Arun
Kumar,
AP/Mech,
RIT

15. 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.
R.Arun
Kumar,
AP/Mech,
RIT

16. MANA G E M E N T –AS AN ART
 An art requires the qualities: practical knowledge,
personal skill, creativity, perfection through practice,
goal oriented.
R.Arun
Kumar,
AP/Mech,
RIT

17. 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.
R.Arun
Kumar,
AP/Mech,
RIT

18. 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.
R.Arun
Kumar,
AP/Mech,
RIT

19. 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:
R.Arun
Kumar,
AP/Mech,
RIT

20. 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.
R.Arun
Kumar,
AP/Mech,
RIT

21. 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.
R.Arun
Kumar,
AP/Mech,
RIT

22. MANA G E M E N T –AN ART AS WELL AS S CIEN C E
 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.
&
R.Arun
Kumar,
AP/Mech,
RIT

23. MANAGER VS E N T R E P R E N E U R
VS
R.Arun
Kumar,
AP/Mech,
RIT

24. 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.
R.Arun
Kumar,
AP/Mech,
RIT

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

26. BASED ON J O I N I N G THE ORGANIZATION
Manager
 They join the business only
after it is established
Entrepreneur
 They are founders
organization.
of the
R.Arun
Kumar,
AP/Mech,
RIT

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

28. BASED ON DE SIRE
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.
R.Arun
Kumar,
AP/Mech,
RIT

29. 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.
R.Arun
Kumar,
AP/Mech,
RIT

30. 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.
R.Arun
Kumar,
AP/Mech,
RIT

31. 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.
R.Arun
Kumar,
AP/Mech,
RIT

32. 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
R.Arun
Kumar,
AP/Mech,
RIT

33. 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.
R.Arun
Kumar,
AP/Mech,
RIT

34. 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
R.Arun
Kumar,
AP/Mech,
RIT

35. BASED ON DECISION MAKING
 Cannot
Manager
make quick
decisions.
 Need some consultants.
Entrepreneur
 Can make quick decisions.
 They need not consult with
anyone while making
decisions.
R.Arun
Kumar,
AP/Mech,
RIT

36. BASED ON LIABILITIES
Manager
 Managers have
liabilities
Entrepreneur
no  Payments dues for loans,
salaries for staff are the
liabilities.
R.Arun
Kumar,
AP/Mech,
RIT

37. BASED ON RISK
Manager
 Do not like to take risk.
Entrepreneur
 They thrive on risk and
uncertainty.
R.Arun
Kumar,
AP/Mech,
RIT