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              The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

              The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

              Organizational structures  shape company’s value creation

              Organizational structures  shape company’s value creation

              What is Asset Specificity?

              What is Asset Specificity?

              Do you know who Owns Corporations?

              Do you know who Owns Corporations?

              Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

              Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

              What are Treasury Bills?

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                Educational Leaders who fought for women’s education did not seek validations from society

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                How to write an appropriate title 

                How to write an appropriate title 

                Can India regain the title of Vishwaguru?

                Can India regain the title of Vishwaguru?

                What are the problems faced in online lectures?

                What impact can Knowledge have on Society?

                A Big Salute all our teachers!!!

                What is Triple Helix Model for innovation?

                Where in the world teachers are most respected?

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                  Importance of Citation in Research

                  What is Autoethnography style of PhD

                  Can scholarly articles/papers from blogs be cited in research work?

                  The complete guide on how to select the right PhD topic

                  All you wanted to know out how a PhD thesis is assessed?

                  Mixed Method Research is Most Suitable

                  What is the difference between economic bubble and economic boom?

                  How to write a Research Paper?

                  Case Study is one of vital type of research

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                    American Hegemony is at critical juncture 

                    American Hegemony is at critical juncture 

                    Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

                    Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

                    Launch of my book  titled “International Business”

                    Launch of my book titled “International Business”

                    Gift City is becoming India’s Capital Gateway

                    Gift City is becoming India’s Capital Gateway

                    The science of Psephology

                    The science of Psephology

                    What is the Future of BRICS Currency?

                    What is the Future of BRICS Currency?

                    Ram Mandir tableau graced the 75th Republic Day of India

                    Ram Mandir tableau graced the 75th Republic Day of India

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                      Manthan – The Movie about India’s Dairy Cooperative Movement  

                      Guiding 35 PhDs: A Journey of Mentorship, Transformation and Academic Fulfilment

                      Guiding 35 PhDs: A Journey of Mentorship, Transformation and Academic Fulfilment

                      The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

                      The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

                      Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

                      Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

                      The story behind the Swedish word Lagom which means Just Enough

                      The story behind the Swedish word Lagom which means Just Enough

                      Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

                      Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

                      Mumbai’s Historic Single Cinema Screen Maintains Brand Loyalty of Marathi Cinema Viewers 

                      Why Memories are a fuel of our life

                      Why Memories are a fuel of our life

                      Just how Michelin Brothers’s Marketing Strategy for their Tire Business Transformed Restaurant Industry 

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                      How management is both art and science?

                      Dr Vidya Hattangadi by Dr Vidya Hattangadi
                      September 26, 2022
                      in Management
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                      Much of the controversy of management being art or science is based on description of the fact that the earlier leaders of industry used intuition, hunches, commonsense, and experience in managing organizations. They were not well educated, they were not trained professional managers, but they managed their businesses brilliantly. However, commonsense and science differ considerably in solving the problems. Examples are Dhirubhai Ambani, Jamsetji Nusserwanji Tata and G.D.Birla…the list is big. In 1919, Ghanshyamdas Birla was in no better position. He had fought hard with his family and the colonial establishment to start a jute mill. World War I broke out before he could place orders for his machinery. He had based his projections on Rs 6,000 per loom. The price shot up to Rs 16,000. He went ahead.

                      In 1950, aged 17, Dhirajlal Hirachand Ambani sailed in a steerage class of ship to Aden to search for a job. For the next eight years, he sweated it out. Later in his life, without a single educational degree he created an empire called Reliance Industries.

                      Management is Science because of several reasons like – it has universally accepted principles, it has cause and effect relationship etc, and at the same time it is art because it requires perfection through practice, practical knowledge, creativity, personal skills etc. Management is both an art and a science.

                      Artistic application of management know-how is a must for solving complex situations in organizations. It is understood that managing is doing things artistically in the light of the realities of a situation. Human skills cannot stand alone; they need to be aligned with conceptual skills and technical skills. Therefore, theoretical knowledge of management is not adequate or relevant for solving the problems. A manager gains experience by continual application of management knowledge and facing new experiences. By solving many problems, a manager develops more skills and abilities for translating knowledge into practice.

                      Application calls for innovativeness and creativity; Larry Page of Google is one such example of a businessperson who can endure a challenge, while also face criticism. Larry and his business have faced much criticism and received ample praise over the years for his company’s actions. But whenever he was caught in the midst of the storm, he has never let what others think influence him from pursuing the course for his company that he considers the best. The art of management is in knowing how to accomplish the desired results.

                      Art may be defined as personalized application of general theoretical principles for achieving best possible results. Apple Inc’s Tim Cook is often compared to Steve Jobs. It is difficult to follow Steve Jobs, but, Tim Cook is doing a tremendous job. Rather than attempt to match the consumer-facing innovations Steve Jobs had been known for, Tim Cook is forging into the future with his own new advances, such as Apple’s newest original inventory management techniques.

                      Traditionally, creativity was linked with people in artistic professions such as writers, painters or musicians. But, in today’s competitive business world, the need for creativity has transitioned into the business world. It has become increasingly important for organizations to rely on creative thinking, in an effort to distinguish themselves from competitors. Jeff Bezos of Amazon prefers focus on the customer. It is famous that in every meeting he leaves an empty seat for a customer to represent them. He considers the customer to be the most important person in the room, even if there is no customer present physically in the room. Bezos has made the customer a key component of his business strategies, customers find him very inspiring. He always portrays through his strategies that at the centre of his business are his customers. Amazon grew in leaps because of cultivated customer value.

                      Most science and engineering students are good at managing businesses because they are good at analysis and solve problem in the real word specifically based on their subject. Businesses need engineering managers to oversee projects, product design and development, operations; create strategic plans; handle budgets, costs, and financing; and interface with marketing.

                      Frederick Winslow Taylor was one of the first management thinkers. Taylor is known for his thinking of scientific management. He advised to scientifically select, train, and develop each worker rather than passively leaving them to train themselves. Taylor concentrated more on productivity and wages to be paid based on productivity. He stressed on time and motion study and other techniques for measuring work. Apart from this, in Taylor’s work, there also runs a strongly humanistic theme. He felt ideally that the interests of workers, managers and owners should be synchronized.

                      Henri Fayol was a French coal-mine engineer, director of mines and modern management theoretician. His scientific management theory was formed on the bases of business administration and business management. He introduced the fourteen principles of management. In the academic world, this is also known as Fayolism.

                      Management science theory is based on the thought that a contemporary approach to management that focuses on the use of rigorous quantitative techniques which help managers make maximum use of organizational resources to produce goods and services. It is also known as the mathematical or quantitative approach. In quintessence, this theory is a contemporary extension of scientific management, which, as developed by Taylor, also looks at quantitative approach to measuring the employee and his task in order to raise efficiency. The art to get maximum productivity is to use permutations and combinations as per employee’s strength, desire to work, desire to learn and the motivation techniques used by the management.

                      Tags: analytics.ArtcreativeFayolismManagementqualitativequantitativeScienceTaylor
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                      Dr Vidya Hattangadi

                      Dr Vidya Hattangadi

                      Dr. Vidya Hattangadi is an accomplished academician, researcher, and thought leader with over four decades of combined experience 20 years in managerial roles in industry and 24 years in management education. She holds a PhD in Marketing Management from Savitribai Phule Pune University and a D.Litt. from the University of Mumbai for her post-doctoral published work. She is a prolific writer and blogger, Dr. Hattangadi runs the widely read blog www.drvidyahattangadi.com, which enjoys strong organic traffic and engages readers across a broad spectrum of subjects, including management, leadership, psychology, social trends, music, current affairs, and politics and psychology. Her blog is 12 years old. Her experience of combining knowledge of industry work with an academic background creates a powerful, "pracademic" profile that bridges the gap between theoretical knowledge and practical application. This hybrid approach has made her a powerful Professor in the classrooms and she has produced graduates who are not just knowledgeable, but industry-ready. She worked for Maratha Mandir’s Babasaheb Gawde Institute of Management Studies as Director, Research Head and Professor. She has written a fortnightly column for The Financial Express from 2017 to 2021 and has contributed extensively to leading publications such as The Hindu, Free Press Journal, and The Economic Times. Her articles are known for their analytical depth, clarity, and relevance to contemporary issues. Dr. Hattangadi has successfully guided 35 PhD scholars in Management Studies across institutions such as the University of Mumbai, SNDT Women’s University, and Yashwantrao Chavan Maharashtra Open University (YCMOU) and Guglielmo Unimarconi Italian University. Currently, she is working on her YouTube channel "Vidya's Vidya" mentoring doctoral researchers in the areas of Finance, Strategic Management, Organizational Behaviour, Human Resource Management, and Marketing Management. She is an accomplished author, she has written books on Strategic Management, Buyer Behaviour, International Business and Entrepreneurship Management, Faith Economy, contributed chapters to four edited volumes of books, and published over 350 research papers in national and international journals. Her scholarly work has strong visibility and impact, reflected in her robust presence on Google Scholar, Research Gate, Vidwan etc. Her research in all fields of management studies is truly ground-breaking. The rigor and depth of her knowledge have set a new standard in our field of management studies.

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