Meaning: - Science is a systematic body of knowledge which is universally accepted. F.W. Taylor father of scientific management was perhaps the first person to consider management as a science. He was of the opinion that management should conduct their business affairs by following certain well established standards.

Science can be broadly divided into two groups:

(a) Physical Sciences      (b) Social Sciences

Physical sciences like Physics, chemistry and mathematics are exact and accurate, whereas, social sciences are not so exact and accurate as they deal with human beings. 

Management is a social science because it deals with human beings. Since human nature cannot be predicted with accuracy, the decisions taken in management may just be one way of doing things in a given situation and not the only way of doing things.
             Management is a social science due to the following reasons:

1.      Systematic Decision-Making: -Management need to make systematic decisions. For this purpose the managers need to collect the right information from the right source at the right time. The collected data need to be processed and analysed systematically. The systematic collection and processing of data helps management to take better decisions.

2.      Output may Vary, the Inputs Being the same: -In physical sciences, output may vary with a change in input. However, in social sciences, like management, output may vary without a change in input. For instance, when workers are properly motivated, their performance can improve even without any increase in resources like material, time, etc.

3.      Process of management is universally followed: - Managers in all organisations, whether large or small, and at all levels, follow the process of management. All managers need to plan, to organise, to direct and to control the activities.

4.      Principles of Management are universally accepted: -All successful organisations do follow the well established principles of management, such as division of work, unity of command, discipline, and so on.

However, the degree of application varies from one manager to another manager and from one situation to another situation and from one organisation to another organisation.

Thus, it can be concluded that management is an art as well as a science. Managers need to be scientific artists in order to accomplish the goals. For this purpose, they need to be innovative, and systematic. It is the science that discovers and the art that develops.