Management is considered to be both an art and science. Explain.
Management is considered to be both an art and a science because it fulfills the criteria of both an art as well as a science.
Following are the features of management as an art and as a science:
Management as an Art: Management fulfills the following criteria for it to be called as an art.
Existence of Theoretical knowledge: All art forms presupposes the existence of certain the practical knowledge. Similarly, in management also there is a lot of literature available in various areas of management.
Personalised application: Art is concerned with personal application of knowledge. And the use of basic knowledge will vary from individual to individual. For example, two singers, two dancers or two actors will always differ in demonstrating their art. Similarly, A manager applies the scientific method and body of knowledge to a given situation or a problem in his own unique manner. A good manager works with a combination of practice, creativity, imagination initiative and innovation.
Based on Practice and Creativity: All art involves the creative practice of theoretical knowledge. For example music, we all know that there are seven notes in a musician but the musician uses these notes with his own creativity to make the music different. Similarly in management a manager applies his knowledge as per his own creativity and sometimes gives his own theories for use in a particular situation.
Management as a Science: Management fulfills the following criteria for it to be called science.
Systematised body of knowledge: Science is a systematic body of knowledge. The principles of science are based on a course and effect relationship. Similarly in management it is also a systematised body of knowledge, and it has its own theory and principles that developed over a period of time. Communication management has its own vocabulary.
Principles based on Experimentation: The scientific principles are first developed through observation and then tested by experiments. Similarly the principle of management evolved over a period of time on the bases of observation and experiments. The management deals with human beings and human behaviour therefore the outcomes of the experiments are not accurate. That's why management can be called an inexact science. Despite this the management scholars have been able to identify the general principles of management
Universal validity: Scientific principles have universal validity and application. Similarly in management the principles are also valid but their application and use is not universal. Because the principles of management are not as exact as the principles of science. However, they have to be modified according to the situation. These principles are used for training and development of managers.
Why is management considered to be a multi-dimensional concept?
Indian Railways has launched a new broad gauge solar power train which is going to be a path breaking leap towards making trains greener and more environment friendly. The solar power DEMU (Diesel Electric Multiple Unit) has 6 trailer coaches and is expected to save about 21,000 liters of diesel and ensure a cost saving of Rs 12, 00,000 per year. Name the objectives of management achieved by Indian Railways in the above case.
Management is a series of continuous interrelated functions. Comment.
Ashita and Lakshita are employees working in Dazzling enterprises dealing in costume jewellery. The firm secured an urgent order for 1,000 bracelets that were to be delivered within 4 days. They were assigned the responsibility of producing 500 bracelets each at a cost of Rs 100 per bracelet. Ashita was able to produce the required number within the stipulated time at the cost of Rs 55,000 whereas, Lakshita was able to produce only 450 units at a cost of Rs 90 per unit. State whether Ashita and Lakshita are efficient and effective. Give reasons to justify your answer.
List any two indicators of growth of an organisation.
Company X is facing a lot of problems these days. It manufactures white goods like washing machines, microwave ovens, refrigerators and air conditioners. The company’s margins are under pressure and the profits and market share are declining. The production department blames marketing for not meeting sales targets and marketing blames production department for producing goods, which are not of good quality meeting customers’ expectations. The finance department blames both production and marketing for declining return on investment and bad marketing. State the quality of management that the company is lacking? What quality of management do you think the company is lacking? Explain briefly. What steps should the company management take to bring the company back on track?
Coordination is the essence of management. Do you agree? Give reasons.
A company wants to modify its existing product in the market due to decreasing sales. You can imagine any product about which you are familiar. What decisions/steps should each level of management take to give effect to this decision?
A firm plans in advance and has a sound organisation structure with efficient supervisory staff and control system but on several occasion it finds that plans are not being adhered to. It leads to confusion and duplication of work. Advise remedy.
Ritu is the manager of the northern division of a large corporate house. At what level does she work in the organisation? What are her basic functions?
How does planning provide direction?
What is meant by staffing?
Identify the network of social relationships which arises spontaneously due to interaction at work.
What is informal communication?
State the meaning of controlling.
What is meant by capital structure?v
What is a Treasury Bill?
State any two advantages of branding to marketers of goods and services?
What makes principles of management flexible?
Under which consumer right does a business firm set up consumer grievance cell?
Explain the objectives and functions of the SEBI.
What are the barriers to effective delegation? Discuss ways to overcome these barriers.
What are various ways in which the objective of consumer protection can be achieved?
The production manager asked the foreman to achieve a target production of 200 units per day, but he doesn’t give him the authority to requisition tools and materials from the stores department. Can the production manager blame the foreman if he is not able to achieve the desired target? Give reasons.
Explain the redressal mechanism available to consumers under the Consumer Protection Act, 1986.
Describe the process of employee selection with detailed steps.
Mr.Arfaaz had been heading the production department of Writewell Products Ltd., a firm manufacturing stationary items. The firm secured an export order that had to be completed on a priority basis and production targets were defined for all the employees. One of the workers, Mr. Bhanu Prasad, fell short of his daily production target by 10 units for two days consecutively. Mr. Arfaaz approached MsVasundhara, the CEO of the Company, to file a complaint against MrBhanu Prasad and requested her to terminate his services. Explain the principle of management control that MsVasundhara should consider while taking her decision. (Hint: Management by exception).
Mr Shantanu is a chief manager of a reputed company that manufactures garments. He called the production manager and instructed him to keep a constant and continuous check on all the activities related to his department so that everything goes as per the set plan. He also suggested him to keep a track of the performance of all the employees in the organisation so that targets are achieved effectively and efficiently.
a. Describe any two features of Controlling highlighted in the above situation.(Goal Oriented, continuous and pervasive – any 2).
b. Explain any four points of importance of Controlling.
How is the Principle of ‘Unity of Command’ useful to management? Explain briefly.
State any one situation in which an organisation’s control system loses is effectiveness.