Management is both an Art and a Science.
(i) Management is an art as well as a science though an inexact science.
(ii) Art is the skillful and personal application of existing knowledge to achieve desired results.
Management is an art because like any other art, it is a systematized body of knowledge and personalised application based on continuous practice.
(iii) Science is a systematised body of knowledge that explains certain general truths.
Like science, management principles are derived through observation and repeated experiments.
Since management deals with human beings the outcome of these experiments cannot be accurately predicted.
Moreover they have to be modified according to the given situation. Hence, it is an inexact science.
