Amazon grew in leaps because of cultivated customer value. Most science and engineering students are good at managing business because they are good at analysis and solve problem in the real word specifically based on their subject. Businesses need engineering managers to oversee projects, product design and development, operations; create strategic plans; handle budgets, costs and financing; interface with marketing.
Frederick Winslow Taylor was one of the first management thinkers. He advised to scientifically select, train and develop each worker rather than passively leaving them to train themselves.
Taylor concentrated more on productivity, and wages to be paid based on productivity. He stressed on time and motion study and other techniques for measuring work. He felt ideally that the interests of workers, managers and owners should be synchronised. Henri Fayol was a French coal-mine engineer, director of mines and modern management theoretician.
His scientific management theory was formed on the bases of business administration and business management. He introduced the 14 principles of management. In the academic world, this is also known as Fayolism. Management science theory is based on the thought that a contemporary approach to management focuses on the use of rigorous quantitative techniques that help managers make maximum use of organisational resources to produce goods and services.
It is also known as the mathematical or quantitative approach. In quintessence, this theory is a contemporary extension of scientific management, which, as developed by Taylor, also looks at quantitative approach to measuring the employee and his task in order to raise efficiency.
The author is a management thinker and blogger. Like us on Facebook and follow us on Twitter. Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
Management is science as it has universal principles. Dow 30 closes above for first time in years — Know how to invest in index stocks. It has been aptly remarked that management is the oldest of art and youngest of science.
To conclude, we can say that science is the root and art is the fruit. Yes,Science is a systematic body of knowledge pertaining 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.
Science is characterized by the following main features: 1. Universally acceptance principles — Scientific principles represents basic truth about a particular field of enquiry. Management also contains some fundamental principles which can be applied universally like the Principle of Unity of Command i. This principle is applicable to all type of organization — business or non business.
The same is true for management, therefore it also establishes cause and effect relationship. If you know the cause i. 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.
They stand the test of time. Each time these tests will give same result. Moreover future events can be predicted with reasonable accuracy by using scientific principles.
Principles of management can also be tested for validity. The performance of 1st person will be better than 2nd.
It cannot be denied that management has a systematic body of knowledge but it is not as exact as that of other physical sciences like biology, physics, and chemistry etc.
The main 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. Art may be defined as a personalized application of general theoretical principles for achieving the best possible results. Art has the following characters — 1. Practical Knowledge: Every art requires practical knowledge therefore learning of theory is not sufficient. It is very important to know the practical application of theoretical principles.
A manager can never be successful just by obtaining a degree or diploma in management; he must have also know how to apply various principles in real situations by functioning in the capacity of a manager.
Personal Skill: Although the theoretical base may be the same for every artist, each one has his own style and approach towards his job.
But a modern manager can do better by using the knowledge, methods, concepts, theories, etc. This knowledge, methods, concepts, theories related to managing can be treated as a science. It raises the question is management is an art or science or both.
To manage effectively, one must have not only the necessary abilities to lead but also a set of critical skills acquired through time, experience, and practice. The art of managing is a personal creative attribute of the manager, which is more often than not, enriched by education, training, experience.
The art of managing involves the conception of a vision of an orderly whole created from chaotic parts and the communication and achievement of this vision. Art requires practical knowledge, learning of theory is not sufficient. Art applies theory to the field. Art teaches the practical application of theoretical principles. For example-Learning how sing does not make you a musician; one must know all composition and be able to use them.
A manager will not depend on his theoretical knowledge or solution alone. He thinks outside the box and creates things extraordinary. Management is also creative like any other art. Management is all about finding a new way to be well different from others. Every artist becomes better through item and practice.
Similarly, managers become more expert as he spends more time in management thought.
0コメント