Which of the following statements is NOT relevant to the concept of “Management as an inexact science”?

None of the above

The correct answer is option 4- None of the above.

OPTION-1 The principles of management lack universal validity. This is correct as The principles of management are not universally valid as they deal with human behaviour and the outcome of application of a principle cannot be predicted with utmost accuracy

OPTION-2 Management involves dealing with human behaviour and outcomes cannot be predicted with utmost accuracy. This is correct. The principles of management have evolved over a period of time based on repeated experimentation and observation in different types of organisations. However, since management deals with human beings and human behaviour, the outcomes of these experiments are not capable of being accurately predicted.

OPTION-3 The principles of management have to be modified according to the given situation. This is correct. Since the principles of management are not as exact as the principles of science, their application and use is not universal and they can be modified by applicant according to situation.

As all the options are correct. So, correct ans is none of these.