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Small Business Administration. ’’ Small Business Planner April, 2008. html. ’’ National Venture Capital Association and Thomson Reuters April, 2008. pdf. THE ART AND SCIENCE OF MANAGEMENT One of the enduring questions in the field of management is whether management is an art or a science. ’’ Reflected in the differences in these definitions is the use of precision in science, in that there is a particular, prescribed way in which a manager should act. Thus, management as a science would indicate that in practice, managers use a specific body of information and facts to guide their behaviors, but that management as an art requires no specific body of knowledge, only skill.

A level strategy allows a firm to maintain a constant level of output and still meet demand. This is desirable from an employee-relations standpoint. Negative results of the level strategy would include the cost of excess inventory, subcontracting or overtime costs, and backorder costs, which typically are the cost of expediting orders and the loss of customer goodwill. Chase Strategy. A chase strategy implies matching demand and capacity period by period. This could result in a considerable amount of hiring, firing, or laying off of employees; insecure and unhappy employees; increased inventory carrying costs; problems with labor unions; and erratic utilization of plants and equipment.

In these plans, qualified members of a disadvantaged group may be preferred to more highly qualified individuals who are not in the affected group. Generally speaking, the more aggressive the affirmative action strategy employed, the more likely it is to generate challenges and the more difficult it is to defend legally. S. Supreme Court. Lawsuits filed by those who believe they have been unfairly treated by affirmative action plans usually are called ‘‘reverse discrimination’’ lawsuits. Although the courts generally have agreed that affirmative action is legal if it meets certain criteria, court decisions in the 1990s and early 2000s seemed to reflect a trend toward restricting the more aggressive types of affirmative action programs, which may include preferences based on race or gender.

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