Management involves planning, organizing, coordinating, directing, assessing, correcting, motivating people to achieve organizational goals. It has elements of both an art and a science. As an art, management requires creativity and personal application of knowledge to implement principles in practice. As a science, management has a systematic body of knowledge, theories, and universally applicable principles developed through observation and experimentation. In conclusion, management has characteristics of both an art and a science, applying scientific principles and using creative skills.

2. Presented by
ARPITDAHRE.
Department Fashion Merchandise
and Retail Management..

3.  WHAT IS MANAGEMENT
 COMPONENTS OF MANAGEMENT
i. Organisational activity
ii. Goal formation
iii. Goal accomplishment and evaluation
iv. Organisational Survival
v. Implementation
 MANAGEMENT IN BRIEF
 CONCLUSION

4. The organization and coordination of the activities
of a business in order to achieve defined
objectives. Management is often included as a
factor of production along with machines,
materials, and money.

5. Management consists of following:
(1) Organisational activity-
Management is a group activity.
Management is to coordinate the
actions and reactions of individuals.
(2) Goal formation—
Management has some definite goals before it to
achieve. Goals are set considering the actions and
reactions of individuals.

9. Management is every where- office, hospital, school, finance,
trust etc., management is basically planning, organizing
coordinating, directing, Assessing, correcting, motivating and
Achieving a set goal. It is objective-oriented. We always have a
doubt whether it is an art and youngest of science because
It is of dynamic nature.
Different management need different approaches; for example
business management and personal management
Are based on common principal but vary in lot approach.
Economist say management is factor of production; socialist
views it as a group of people; other says that is a process.
Mary parker say “ management in its true sense, a process by
which an organization realizes its objectives in a planned
manner;
According to Henry Fayol. “ Management is to forecast plan,
organize, command, coordinate and control”.

10. Management is taking inputs, transforming them into out-either
a good or service; the effectiveness of this transforming the
input into output depends on the Management-especially when
the resource are scarce ; It is a group activity; motivating
others and getting the things done within the stipulated time ,
without compromising on the quality of the result ; it give shape
and color to great ideas of the manager; Management involves
dealing with people who have different understanding,
sensitivity, knowledge, capability, responsibility, maturity.
since Art is concerned with personal application of knowledge
some kind of ingenuity and creativity is required to practise the
basic principles.
it is said to be art because:
1) A successful manager practise the art of management in the
day-to-day job of managing an enterprise based on study
observation and experience.

11. 2) There are various theories of management as propounded
by many management thinkers, which prescribe certain
universal principles.
science is a systematized body of knowledge that explains
certain general truths or the operation of general laws. we can
say that management has some characteristics of science
1) Management has a systematic body of knowledge . It has
its own theory & principles that have developed over a period
of time.
2) Inference are arrived after continuous observation and
experiment.
3) It has logical principle which are defined and are universally
applicable without any limitation.

12. Conclusion
Management has got two faces like a coin; on one side it is art
and on the other it is science. Management has got scientific
principle which constitute the element of science and skill and
talent which are the attributes of Art.
According to American Society of Mechanical Engineers.
"Management is the art and science of preparing, organizing
and directing human efforts to control the forces and utilize the
material of nature for the benefit of men. "Thus, it has now
been accepted that management is an art as well as science. It
has the elements of both arts and science.

13. THANK
YOU..!!!