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Type of financial institution in Nepal

  Banking financial institution, depository institution: Financial institution that accept deposit and channel the money into lending activities is called depository institution. Bank:  Central Bank Commercial Bank Development Bank Finance Company Microfinance Cooperatives Non banking financial institution, Contractual institution  Employee Provident Fund  Citizen investment trust Insurance companies Investment institution Brokers  Investment bank  underwriters

Management is and Art, science and profession


Management is an Art

Art consists different components like knowledge and skill that are applied to achieve some specific goals. The skills should be practiced regularly by the artist. Management also consists different components that are reflected top art. Therefore it is also regarded as an art

Marry Porker Follet has defined, "Management as an art of getting things done through other people,”

Management consists following things components of art.
  • Knowledge, skills and creativity of person.
  • Applied in practices.
  • Regularity
  • Result oriented.
  • Improvement through continuous practice.

Management as a science

Science is a systematic body of knowledge developed by research, experiences, experiments, observation etc. science is valued and verifiable.

According to J.M. Keynes,” Science can be defined as a systematized body of knowledge which established the relationship between cause and effect.”

Management can also be considered as a science because it neocolonialists fundamental characters or feature of science. Followings are a major components of management, such component prove management as a science.
  • Systematized body of knowledge.
  • Continuous application and observation.
  • Universal application.
  • Cause and effect relationship.
  • Validity and verifiable.
All such characters and components are found in management; therefore, it is science. We can say that management is not a pure and natural science but it is a behavioural or social science.


Management as a profession

Management is also regarded as a profession because the concept and component of the activities behaviour and nature of professionals.

According to A.S. Hornby,” Profession can be defined as an occupation specially required advance education and special training.”

Followings components are included in profession.
  • Formal and advance education.
  • Body of Systematized knowledge.
  • Formation of professional association.
  • Service oriented or priority to service.
  • Code of conduct or ethics.
  • Discipline

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