Science is a systematised body of knowledge that explains certain general truths or the operation of general laws. Management is science but not exact science. The reasons are:
(i) Systematised body of knowledge: Like science, management is a systematised body of knowledge with its own theories and principles that have developed over a period of time. So this feature is present in management.
(ii) Principles are based on experimentation and observation: Like science, management principles are derived through observation and repeated experimentation. However, since management deals with human beings the out come of these experiments are not predicted accurately in different situations. So no exact cause and effect relationship can be established.
(iii) Universal validity: Theories and principles of management are valid universally to a great extent. They can be used to impart basic knowledge and managerial skills to the budding managers.