"Managerial concept are universal" However it totally depend upon managers how they use it!! Science is a systematic body of knowledge that explains certain general truth or the operation of general laws. The basic features of science are as follow: - 1) Systematized body of knowledge: Science is a systematized body of knowledge contains facts, theories and principles which help to understand the relationship between cause and the effect. This systematized body of knowledge helps to understand past events and to forecast the future. For example law of gravity explains the falling of apple towards the ground. 2) Principles based on experimentation: Scientific principles and fundamental truths are first developed through observation, identification, and experimental investigation under controlled conditions. 3) Universal validity: These scientific principles have universal validity and application which is used to refer to the application of quantitativ...
Management and business studies ....