Nature of Management:-

Management is one of the oldest concept, it is as old as civilization. The development of trade and commerce led to the development of management principles and practices.

     There are mainly three basic nature of management.

1. It is an art
2. It is a profession
3. It is science

1.Management as an art

What is an art?

Art is the practical application of theoretical knowledge which we acquire from the books, journals, magazines, newspapers etc.

       It can also be acquire through study, observation and experience.

Features of an art

1.  Existence of theoretical knowledge

Art is the application of already existing theoretical knowledge which is acquired through books, journals, newspapers and magazines.

2.  Personalised application

The knowledge which is required through books, journals, newspapers, magazines etc. have personalised application which means that every individual uses that theoretical knowledge in their own way.

for example:- the lecture delivered by the teacher in the class is same for all students but the practical application by the students will be different.

3. Based on practice and creativity

Art is completely based on practice and creativity. Art is based on practice as regular practice of theoretical knowledge makes a man perfect, on the other hand art is based on creativity as creativity in the knowledge acquired through various books and journals are the natural process.