Step 1: As a Science:
Management has an organised body of knowledge consisting of well-tested general principles (e.g. Fayol's 14 principles) that are applicable in varying managerial situations, derived through observation and experimentation, giving it a scientific character — though it is an inexact science, since it deals with human behaviour.
Step 2: As an Art:
Applying this theoretical knowledge to actual, ever-changing organisational problems requires personal skill, creativity, and constant practice — exactly as a doctor applies medical science through the art of treatment. This includes existence of theoretical knowledge, personalised application, and improvement through continuous practice.
Step 3: Significance of combining both:
Because management deals with unpredictable human behaviour, principles alone (science) cannot guarantee success — they must be skilfully adapted to specific situations (art). This dual nature is why management education combines theory with case studies and practical training.
Final Answer:
Management is a science because it has systematic principles, and an art because applying those principles skilfully to real situations requires practice — both aspects together make management effective.