The study and application of management techniques in managing the affairs of the organization have changed its nature over the period of time.
Multidisciplinary: Management is basically multidisciplinary. This implies that, although management has been developed as a separate discipline, it draws knowledge and concepts from various disciplines. It draws freely ideas and concepts from such disciplines as psychology, sociology, anthropology, economics, ecology, statistics, operations research, etc. Management integrates the ideas and concepts taken from these disciplines and present newer concepts which can be put into practice for managing the organization.
Dynamic nature of principle: Based on integration and supported by practical evidences, management h a s f o r m e d c e r t a i n p r i n c i p l e s . However, these principles are flexible in nature and change with the changes in the environment in which an organization exists.
Relative, not absolute principles: Management principles are relative, not absolute, and they should be applied according to the need of the organization. Each organization may be different from others. The difference may exist because of time, place, socio-cultural factors, etc.
Management - Science or Art: There is a controversy whether management is science or art. However, management is both a science and art.
Management as profession: Management has been regarded as profession by many while many have suggested that it has not achieved the status of a profession.