(a) Management is regarded as both an art and a science. Features of management as a
science
Management can also be considered as a science because it also consists of fundamental
characters or features of science. The followings are major components of management, which
proves management as a science.
- Systematized body of knowledge
- Continuous application and observation
- Universal application
- Cause and effect relationship
- Validity and verifiable
(b) Importance of the management functions in an organisation
1. Encourages Initiative
Management encourages initiative. Initiative means to do the right thing at the right time
without being told or influenced by the superior. The employees should be encouraged to
make their own plans and also to implement these plans. Initiative gives satisfaction to
employees and success to organization
2. Encourages Innovation
Management also encourages innovation in the organisation. Innovation brings new ideas,
new technology, new methods, new products, new services, etc. This makes the organisation
more competitive and efficient.
3. Facilitates growth and expansion
Management makes optimum utilisation of available resources. It reduces wastage and
increase efficiency. It encourages team work and motivates employees. It also reduces
absenteeism and labour turnover. All this results in growth, expansion and diversification of
the organisation.
4. Improves life of workers
Management shares some of its profits with the workers. It provides the workers with good
working environment and conditions. It also gives the workers many financial and nonfinancial
incentives. All this improves the quality of life of the workers.
5. Improves corporate image
If the management is good, then the organisation will produce good quality goods and
services. This will improve the goodwill and corporate image of the organisation. A good
corporate image brings many added benefits to the organisation.
6. Motivates employees
Management motivates employees by providing financial and non-financial incentives.
These incentives increase the willingness and efficiency of the employees. This results in
boosting productivity and profitability of the organisation.
7. Optimum use of resources
Management brings together the available resources. It makes optimum (best) use of these
resources. This brings best results to the organisation.
8. Reduces wastage
Management reduces the wastage of human, material and financial resources. Wastage is
reduced by proper production planning and control. If wastage is reduced then productivity
will increase.
9. Increases efficiency
Efficiency is the relationship between returns and cost. Management uses many techniques
to increase returns and to reduce costs. Higher efficiency brings many benefits to the
organisation.
10. Improves relations
Management improves relations between individuals, groups, departments and between
levels of management. Better relations lead to better team work. Better team work brings
success to the organisation.
11. Reduces absenteeism and labour turnover
Absenteeism means the employee is absent without permission. Labour Turnover means the
employee leaves the organisation. Labour absenteeism and turnover increases the cost and
causes many problems in the smooth functioning of the organisation. Management uses
different techniques to reduce absenteeism and labour turnover in the organisation.
12. Encourages Team Work
Management encourages employees to work as a team. It develops a team spirit in the
organisation. This unity bring success to the organisation.
Kavungya answered the question on May 17, 2019 at 13:22