Management resembles the characteristic features of art, science and any profession.
Management as an art
Management satisfies the following criteria for it to be called an art:
i. Existing literature: All art forms, such as music, dance, etc., pre-suppose a defined body of knowledge and literature. Similarly, management also has enough literature for theoretical knowledge and learning.
ii. Dynamic application: Art is the personalised application of existing knowledge. That is, each individual utilises the basic knowledge in his own creative way.
iii. Practice and creativity: Art involves practice and innovation. Artists use the existing literature as per their own creativity and innovation.
Management as a science
Management satisfies the following criteria for it to be called a science:
i. Systematic body of knowledge: Science has a specified body of knowledge, which is based on the cause and effect relationship. Similarly, management has its own body of theories and principles that were developed over the years.
ii. Theories based on experimentation: In science, the principles and theories are based on continuous observation and experimentation. In the same manner, the principles of management have also evolved over several years based on repeated observations and experimentations. However, as against science, in management, no exact cause and effect relationship can be established.
iii. Universal validity: In science, the principles have universal validity. In management too, the theories and principles are valid to some extent, if not universal.
Management as a profession
As a profession, management fulfils the following criteria:
i. Systemised knowledge- Management is based on a systemised and well-defined body of knowledge, comprising principles and theories. This knowledge can be attained through various colleges, institutes and books.
ii. Professional association- As in every profession, management also is affiliated to a professional association that regulates the functions of its members.
iii. Code of conduct- Every profession follows a particular code of conduct that dictates a guiding principle for the ethical behavior of its members. Through good management, production takes place in an effective and efficient manner, and quality goods and services are provided to society at a fair price.