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CMA Foundation · Fundamentals of Business Economics and Management · Introduction to Management

Which of the following best shows that management is both a science and an art?

Management is both science and art because it has a systematic body of principles that can be learned, while applying them requires personal skill, creativity and judgement suited to each situation. It does not give identical results everywhere, and it is not purely inborn talent or limited to business.

  1. AIt follows fixed laws that give identical results in every situation, like physics
  2. BIt has a body of principles, but their application needs personal skill and judgement in each situationCorrect
  3. CIt requires no formal knowledge and depends only on inborn talent
  4. DIt is practised only in business firms and never in other institutions

Explanation

Management has organised knowledge and principles, which is its scientific side. Applying them creatively according to the situation is the art side. Fixed universal laws are not true of management because human behaviour varies. Pure inborn talent ignores the knowledge base.

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