Management as an Art, Science and Profession (Overview) Video Lecture | Business Studies for Grade 12

management as an art science profession
tomorrow's the interview I'm so nervous
young lady this job requires you to take
quick decisions think fast on your feet
and always be calm and collected do you
have it in you yes sir
okay then demonstrate and tell me where
the management is an art science or
profession a writer visa is management a
science science is characterized by the
following main features universal
acceptance principles scientific
principles may be applied in all
situations at all times and at all
places
similarly management also contains some
fundamental principles which can be
applied universally example the
principle of unity of command that is
one man one boss this principle is
applicable to all types of organizations
business or non-business second
experimentation and observation
scientific principles are derived
through scientific investigation and
research that is they are based on logic
management principles are also based on
scientific inquiry and observation they
have been developed through experiments
and practical experiences of a large
number of managers example it is
observed that fair remuneration to
personnel helps in creating a satisfied
workforce third cause-and-effect
relationship
principles of science lay down
cause-and-effect relationship between
various variables for example when
metals are heated they expand
the same is true for management for
example it is a general observation that
when the workforce is treated as well as
paid well in the form of salary and
bonus it adds to their work efficiency
thereby increasing the productivity of
the organization thus it establishes a
cause-and-effect relationship
fourth desktop validity and
predictability validity of scientific
principles can be tested at any time or
any number of times that is they stand
the test of time
moreover future events can be predicted
with reasonable accuracy by using
scientific principles
similarly the principles of management
can also be tested for their validity
example unity of command can be tested
by making a comparison with regards to
clarity of thought and direction between
two persons one answerable to a single
boss and another answerable to more than
one
thus it is observed that principles of
science namely universally accepted
principles experimentation and
observation cause-and-effect
relationship test of validity and
predictability are true in case of
management also however since management
deals with human beings and human
behavior the outcomes of these
experiments are not capable of being
accurately predicted or replicated
therefore management can be called and
in exact science
this was very interesting but convinced
me that management is a profession sure
management as a profession let us list
the attributes of a profession first
specialized knowledge a profession must
have a systematic body of knowledge that
can be used for development of
professionals every professional must
make deliberate effort to acquire
expertise in the principles and
techniques similarly a manager must have
devotion and involvement to acquire
expertise in the science of management
second formal education and training
there are a number of institutes and
universities to impart education and
training for a profession for example a
CA cannot audit the accounts unless he
has acquired a degree or diploma for the
same but a degree in management is not
mandatory by law though it is always an
added advantage
third social obligations profession is a
source of livelihood but professionals
are primarily motivated by the desire to
serve society actions of professionals
are influenced by social norms and
values similarly a manager is
responsible not only to his superiors
but also to society therefore he is
expected to provide quality goods at
reasonable prices to society
Ford's code of conduct members of a
profession have to abide by a code of
conduct which contains certain rules and
regulations norms of honesty integrity
and special ethics a code of conduct is
enforced by a representative Association
to ensure self-discipline among its
members
any member violating the code of conduct
can be punished and his membership can
be withdrawn the all-india Management
Association aima has prescribed a code
of conduct for managers but it has no
right to take legal action against any
manager who violates it
fifth representative Association for the
regulation of a profession the existence
of a representative body is a must for
example the Institute of Chartered
Accountants of India establishes and
administers standards of competence for
auditors however aima does not have any
statutory powers to regulate the
activities of managers however it is
argued that a profession cannot develop
without research into the nature of the
discipline with which the profession is
concerned in light of developments
taking place management is undergoing
the process of professionalization by
acquiring some of the characteristics of
a fully developed profession
the aima has prescribed a code of
conduct for managers but it has no right
to take legal action against any manager
who violates it they are as follows
formal education to degree level
existence and strengthening of
professional organizations foundation
and development of professional
literature increased research activities
supplying the discipline with new
theoretical frameworks new knowledge to
deal with issues of technological
development affecting the work of
organizations and effective management
of their records in addition research
activities are important and necessary
if a profession is to continue
developing and maintaining its status in
the case of management this is indeed
taking place now
from the above discussion it is quite
clear that management fulfills several
essentials of a profession even then it
is not a full-fledged profession because
it does not restrict the entry in
managerial jobs no minimum
qualifications have been prescribed for
managers no management Association has
the authority to grant a certificate of
practice to various managers all
managers are supposed to abide by the
code formulated by a IMA competent
education and training facilities do not
exist managers are responsible to many
groups such as shareholders employees
and society a regulatory code may
curtail the freedom managers are known
by the performance and not mere degrees
the ultimate goal of business is to
maximize profit and not social welfare
that is why James has rightly remarked
the slogan for management is becoming he
who serves best also profits most
management is an art management is an
art in the sense that within these
confines and strictures there is great
scope for the use of creativity
imagination initiative and invention
within the overall sphere of the
occupation the scientific methods and
body of knowledge referred to must be
applied in their own way to each and any
given situation issue or problem in
management creativeness is required
skills and techniques describe the art
of management
practical knowledge every art requires
practical knowledge therefore it is very
important to know practical application
of theoretical principles for example in
order to become a good dancer
a person should have knowledge of the
art and the various Nadya's etc to use
them appropriately similarly a manager
should also know how to apply various
principles in real situations in his
capacity as a manager instead of merely
relying on his degree or diploma
personal skill although the theoretical
base may be same for every artist each
one has his own style and mode of
interpretation example there are several
dancers but Yamini Krishnamurthy is
noted for her style and grace similarly
management as an art is also
personalised every manager has his own
way of managing things based on his
knowledge experience and personality
which is why some managers are highly
effective while others are not so
effective creativity every artist has an
element of creativity which is why he
aims at producing something that has
never existed before this requires a
combination of intelligence and
imagination management is also creative
in nature since it combines human and
non-human resources in a useful way so
as to achieve desired results
perfection took practice 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 a result oriented as it seeks to
achieve concrete results management is
also directed towards accomplishment of
predetermined goals managers use various
resources like men money material
machinery and methods to promote growth
in an organization the following are
some of the activities in management in
which art is being applied managers
compete for resources against all other
organizations with the appropriate
skills and techniques managers must make
only what creates overwhelming value
managers must reward those who deserve
it by what else you need and relay belit
pun intended
mix internal and external products to
increase your value retain employees by
being successful
management is an art because it requires
defining a new way of looking at the
nature of organizations nature of work
nature of information and the
interrelationships thereof
therefore art will always have a part in
the definition of Management to surface
and question the assumptions underlying
the given truths
young lady you were fabulous that was
quick thinking you are selected thank
you sir
management like sort can be traced back
to Sumerian traders and to the builders
of the pyramids of ancient Egypt the
spread of Arabic numerals 5th to 15th
centuries and the codification of
double-entry bookkeeping 1494 provided
tools for management assessment planning
and control Adam Smith's The Wealth of
Nations written in 1776 by Adam Smith a
Scottish moral philosopher the wealth of
nations aimed for efficient organization
of work
through specialization of Labor Smith
described our changes in processes could
boost productivity in the manufacture of
pins while individuals could produce 200
pins per day Smith analysed the steps
involved in manufacture and with 10
specialists enable production of 48,000
pins per day
Sun Tzu's the art of war written by
Chinese general Sun zu in the sixth
century BC the art of war is a military
strategy book that for managerial
purposes recommends being aware of and
acting on strengths and weaknesses of
both a manager's organization and a
false
niccolò machiavelli the prince believing
that people were motivated by
self-interest
Nicolo Machiavelli wrote the prince in
1531 as advice for the leadership of
Florence Italy
Machiavelli recommended that leaders use
fear but not hatred to maintain control
coordination is the act of coordinating
making different people or things work
together for a goal or effect management
seeks to achieve coordination through
its basic functions of planning
organizing staffing directing and
controlling
coordination through planning planning
facilitates coordination by integrating
the various plans through mutual
discussions and exchange of ideas
example coordination between finance
budget and purchases budget coordination
through organizing when a manager groups
and assigns various activities to
subordinates and when he creates
departments coordination uppermost in
his mind coordination through staffing a
manager should bear in mind that the
right number of personnel in various
positions with the right type of
education and skills will ensure reitman
on the right job coordination through
directing the purpose of giving orders
instructions and guidance to
subordinates is served only when there
is harmony between superiors and
subordinates
coordination through controlling manager
ensures that there should be
coordination between actual performance
and standard performance to achieve
organizational goals coordination
integrates group efforts coordination
unifies unrelated or diverse interests
into purposeful work activity it gives a
common focus to group effort to ensure
that performance is as it was planned
and scheduled coordination ensures a
unity of action the purpose of
coordination is to secure unity of
action in the realization of a common
purpose it acts as the binding force
between departments and ensures that all
action is aimed at achieving the goals
of the organization coordination is a
continuous process coordination is not a
one-time function but a continuous
process it begins at the planning stage
and continues to controlling
coordination is an all pervasive
function coordination is required at all
levels of management due to the
interdependent nature of activities of
various departments it integrates the
efforts of different departments and
different levels
coordination is the responsibility of
all managers coordination is the
function of every manager in the
organization operational level
management coordinates the activities of
its workers to ensure that work proceeds
according to plans top-level managers
need to coordinate with their
subordinates to ensure that the overall
policies for the organization are duly
carried out middle level management
coordinates with both the top level and
the first-line managers operational
level management coordinates the
activities of its workers to ensure that
work proceeds according to plans
coordination is a deliberate function a
manager has to coordinate the efforts of
different people in a conscious and
deliberate manner cooperation in the
absence of coordination may lead to
wasted effort and coordination without
cooperation may lead to dissatisfaction
among employees
the band-aid was invented in 1920 by Al
Dixon an employee of Johnson & Johnson
for his wife Josephine Dixon who
frequently cut and burned herself while
cooking the prototype product allowed
his wife to dress her wounds without
assistance
Dixon passed the idea on to his employer
who then went on to produce and market
the product as band-aid Dixon had a
successful career at Johnson & Johnson
eventually becoming a vice president at
the company before his retirement in
1957 the first bandages produced were
handmade and not very popular by 1924
Johnson & Johnson introduced the first
machine that produced sterilized
band-aids