Identify the basic features of "Management as an Art".

(A) Universal Validity

(B) Existence of theoretical knowledge

(C) Based on creativity

(D) Personalised Application

Choose the correct answer from the options given below:

Option 1 -> (A), (B) and (D) only - Incorrect because Universal Validity is a feature of Management as Science, not Art. Art involves personalized and creative application rather than universal principles.

Option 2 -> (A), (B) and (C) only - Incorrect because it includes Universal Validity (A) which characterizes Management as Science. It also excludes Personalized Application (D) which is essential to Management as Art.

Option 3 -> (A), (B), (C) and (D) - Incorrect because Universal Validity (A) is a characteristic of Management as Science where principles apply uniformly across situations, not Management as Art.

Option 4 -> (B), (C) and (D) only - Includes Existence of theoretical knowledge (systematic body of knowledge to guide practice), Based on creativity (individual interpretation and innovation), and Personalized Application (unique application based on manager's skills and judgment). Correctly excludes Universal Validity which is a science feature.

Hence, Option 4: (B), (C) and (D) only -> Management as an Art is characterized by the existence of theoretical knowledge that guides practice, creativity in applying management principles to unique situations, and personalized application where each manager applies their individual skills and judgment. Universal Validity is excluded as it represents Management as Science where principles apply uniformly everywhere. -> correct