The only way in which I would disagree with the statement is to say that you should include "science" in your statement. In other words, management is the art and science of...
Management has always included some amount of science, or at least it has ever since Taylor's Scientific Management movement over 100 years ago. Science is needed in the planning of the activities that the manager will have the people do. This is becoming ever more important as competition gets fiercer and supply chains and such become more complex and international.
While dealing with people is an art, there is also a great deal of science involved in making sure a firm is trying to get those people to do the right things in the right ways.
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