Management science or art

This presentation discusses about management as science or art and about entrepreneurs and managers

1. MANAGEMENT - SCIENCE OR ART
MANAGER VS ENTREPRENEUR
R.Arun Kumar, AP/Mech, RIT

2. FUNCTIONS OF MANAGEMENT:
 Henri Fayol, a French businessman, first proposed in the
early part of 20
th
century the various functions of a manager.


1)Planning
2)Organizing
3)Commanding
4)Coordinating
5)Controlling
R.Arun Kumar, AP/Mech, RIT

3. FUNCTIONS OF MANAGEMENT:
 In recent days these functions have been condensed to four:


1)Planning
2)Organizing
3)Leading
4)Controlling


R.Arun Kumar, AP/Mech, RIT

4. 1. Planning:
Defining the goals, establishing strategy and developing
plans to coordinate activities.

R.Arun Kumar, AP/Mech, RIT

5. 2. Organizing:
Determining what needs to be done, how it will be done
and who is to do it.
R.Arun Kumar, AP/Mech, RIT

6. 3. Leading:
Motivating, leading any other actions involved in dealing
with people.

R.Arun Kumar, AP/Mech, RIT

7. 4. Controlling:
Monitoring activities to ensure that they are
accomplished as planned.

R.Arun Kumar, AP/Mech, RIT

8. FEATURES OF MANAGEMENT :
Group activity
Goal oriented
Factor of production (org)
Invisible force
Integrative Process
Social process
Eternity
Universality
Intellectual exercise
Profession
R.Arun Kumar, AP/Mech, RIT

9. MANAGEMENT – AN ART OR SCIENCE




Or
R.Arun Kumar, AP/Mech, RIT

10. MANAGEMENT – AS A SCIENCE
 Science is a systematic body of knowledge relating to a
specific field of study that contains general facts which
explains a phenomenon.
 It establishes cause and effect relationship between two or
more variables and underlines the principles governing their
relationship.
 These principles are developed through scientific method of
observation and verification through testing.
R.Arun Kumar, AP/Mech, RIT

11. Universally accepted principles:
Scientific principles represent basic truth about a particular
field of enquiry.
These principles may be applied in all situations, at all time
& at all places.
R.Arun Kumar, AP/Mech, RIT

12. Experimentation and observation:
Scientific principles are derived through scientific investigation &
researching i.e. they are based on logic.
Management principles are also based on scientific enquiry
and observation.
They have been developed through experiments and practical
experiences of large number of managers.

Example:
The principle that earth revolves the sun has been scientifically
proved.
It is observed that fair remuneration to personal helps in
creating a satisfied work force.
R.Arun Kumar, AP/Mech, RIT

13. Cause and effect relationship:
When metals are heated, they are expanded. The cause is
heating & result is expansion.
Similarly if workers are given bonuses, fair wages they will
work hard but when not treated in fair and just manner, reduces
productivity of organization.

R.Arun Kumar, AP/Mech, RIT

14. Test of validity and predictability:
Validity of scientific principles can be tested at any time or any
number of times i.e. they stand the time of test.
Moreover future events can be predicted with reasonable
accuracy by using scientific principles.

Examples:
The chemical combination of Hydrogen and Oxygen will give
water.
Similarly, principle of unity of command can be tested by
comparing two persons – one having single boss and one having two
bosses, the performance of first person is better than second.

R.Arun Kumar, AP/Mech, RIT

15. Conclusion:
 The reason for the inexactness of science of management is
that it deals with human beings and it is very difficult to predict
their behavior accurately.
 Since it is a social process, therefore it falls in the area of
social sciences.
 Ernest Dale has called it as a Soft Science.
R.Arun Kumar, AP/Mech, RIT

16. MANAGEMENT – AS AN ART
 An art requires the qualities: practical knowledge,
personal skill, creativity, perfection through practice,
goal oriented.
R.Arun Kumar, AP/Mech, RIT

17. Practical Knowledge:
Every art requires practical knowledge therefore learning of
theory is not sufficient.
It is very important to know practical application of
theoretical principles.

Example:
A manager can never be successful just by obtaining degree
in management; he must have also know how to apply various
principles in real situations by functioning in capacity of
manager.
R.Arun Kumar, AP/Mech, RIT

18. Personal skill:
Although theoretical base may be same for every artist, but each
one has his own style and approach towards his job.
That is why the level of success and quality of performance differs
from one person to another.
Example:
Several qualified painters exist but M.F. Hussain is recognized
for his style. Similar in case of managers.
R.Arun Kumar, AP/Mech, RIT

19. Creativity:
Every artist has an element of creativity in line.
Management is also creative in nature like any other art.
It combines human and non-human resources in an useful
way so as to achieve desired results.
Example:

R.Arun Kumar, AP/Mech, RIT

20. Perfection through practice:
Practice makes a man perfect.
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.
R.Arun Kumar, AP/Mech, RIT

21. Goal oriented:
Every art is result oriented as it seeks to achieve concrete
results.
In the same manner, management is also directed towards
accomplishment of pre-determined goals.
Managers use various resources like men, money, material,
machinery & methods to help in the growth of an organization.
R.Arun Kumar, AP/Mech, RIT

22. MANAGEMENT – AN ART AS WELL AS SCIENCE
It is considered as a science because it has an organized body
of knowledge which contains certain universal truth.
It is called an art because managing requires certain skills
which are personal possessions of managers.
Science teaches to ’know’ and art teaches to ’do’.
A manager to be successful in his profession must acquire the
knowledge of science & the art of applying it.


&
R.Arun Kumar, AP/Mech, RIT

23. MANAGER VS ENTREPRENEUR



VS
R.Arun Kumar, AP/Mech, RIT

24. BASED ON FUNCTIONS

Manager
Performs the basic functions
such as planning,
organising, directing and
controlling.

Entrepreneur
Main function is to reform or
revolutionize the factors of
production such as:
land, capital, labour,
organization, enterprise.
R.Arun Kumar, AP/Mech, RIT

25. BASED ON EDUCATION

Manager
A person can become a
manager by the acquisition
of knowledge through
formal education in
business management
(MBA)
Entrepreneur
They learn by trial and
error method.
They learn from their own
mistakes and mistakes of
others.
They are self made.
R.Arun Kumar, AP/Mech, RIT

26. BASED ON JOINING THE ORGANIZATION

Manager
They join the business only
after it is established
Entrepreneur
They are founders of the
organization.
R.Arun Kumar, AP/Mech, RIT

27. BASED ON WORK NATURE

Manager
They sets objectives,
policies, procedures,
rules, strategies and
formal communication
network.
Entrepreneur
They spot out
opportunities, raise
capital, hire labour,
arrange supply of raw
materials, finding site and
introduce new techniques.
R.Arun Kumar, AP/Mech, RIT

28. BASED ON DESIRE

Manager
They desire to produce best
results in the shortest time
and least cost and to
achieve profit and growth.
Entrepreneur
They are the owners of the
business.
They visualizes a business,
take bold decisions to
establish and undertaking
and bear the risk of
uncertainties.
R.Arun Kumar, AP/Mech, RIT

29. BASED ON DIFFERENT NAMES

Manager
Disturbance handler,
Resource allocator,
Negotiator,
Spokesperson,
Liaison officer and
Disseminator
Entrepreneur
Risk taker,
Uncertainty bearer,
Problem solver,
Innovator and
Idealist.
R.Arun Kumar, AP/Mech, RIT

30. BASED ON FAILURE

Manager
Failure of a manager results
in little loss to his career
and he can join another
company.
Entrepreneur
Leads to great loss of
money and career.
R.Arun Kumar, AP/Mech, RIT

31. BASED ON WORK LIMITS

Manager
Manager has to work
within the framework of
policy guidelines laid down
by the entrepreneur.
Entrepreneur
He/she has full freedom of
work.
He has the chance of
working independently and
can show their talent.
R.Arun Kumar, AP/Mech, RIT

32. BASED ON SALARY

Manager
Managers are entitled to
receive salaries for their
job.
Entrepreneur
Supplies all capital needed
to run the organization.
He/she enjoys the profit of
the business
R.Arun Kumar, AP/Mech, RIT

33. BASED ON EXPERTISE

Manager
Managers are specialists.
They are focused on
managing and growing a
business.
Entrepreneur
They are generalists.
They need to know about
everything.
R.Arun Kumar, AP/Mech, RIT

34. BASED ON REWARDS

Manager
Rewards come in the form of
Salaries,
Promotions,
Job title,
Bonus and incentives.
Entrepreneur
Capital gains,
Asset acquisition and
Cash flow
R.Arun Kumar, AP/Mech, RIT

35. BASED ON DECISION MAKING

Manager
Cannot make quick
decisions.
Need some consultants.
Entrepreneur
Can make quick decisions.
They need not consult with
anyone while making
decisions.
R.Arun Kumar, AP/Mech, RIT

36. BASED ON LIABILITIES

Manager
Managers have no
liabilities
Entrepreneur
Payments dues for loans,
salaries for staff are the
liabilities.
R.Arun Kumar, AP/Mech, RIT

37. BASED ON RISK

Manager
Do not like to take risk.
Entrepreneur
They thrive on risk and
uncertainty.
R.Arun Kumar, AP/Mech, RIT