Science is defined as a body of knowledge systematized through application of scientific method in any department of enquiry. Thus, chemistry as a science refers to a systematic body of knowledge accumulated through application of scientific methods in this area. Science is systematic in the sense that certain relationships, principles and their limitations have been discovered, tested and established.
However, it does not mean that the principles and laws so established are immutable. Discovery of new knowledge and phenomena can always change any principle irrespective of its standing and respect. Management can be described as a science but not in the sense physical sciences are. Management is a theory possessing a number of principles relating to coordination, organization, decision making and so on.
It is true that we cannot have the same kind of experimentation in management as is possible in natural sciences. However, same is the case with economics, political science, military science and a number of other sciences dealing with the complex structure of group norms and behaviour. Thus, it is appropriate to emphasize that management is still a growing science.
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The function of art is to effect change or accomplish goals by deliberate efforts. Art is reflected from the practical application of theoretical knowledge. In this sense, management is an art as well. Management principles are important not for the sake of knowledge alone but also for their application in concrete situations.
In fact, skill in application of principles to work situations is so important to the job of an executive that some authorities regard management to be essentially an art. However, it would not be appropriate to regard science and art as mutually exclusive. The fact is that science is theoretical, whereas, art is practical, and both are complementary to each other. Thus, theory and practice of management are mutually helpful.