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Principal of Management (Nature (1.Universality (the quality of being true…
Principal of Management
Significance
1.Generating Sound Understanding.
it provides logical and scientific approach
2.Increase Managerial Efficiency
From the knowledge of principles managers get indication on how to manage an organization
3. Crystallise the Nature of Management
Principles,rules,methods and procedures are necessary to train&
4.Direction for Tranning of Managers
helps in identifying the areas where managers need to be trained
5.Concrete Role of Management
principles makes role of management more clear and concrete,
6.Guide to Research in Management
developing as a discipline,increasing the scope for research
Meaning
The essential underlying factors that form the foundation
Nature
1.
Univ
ersa
lity
the quality of being true in or appropriate for all situations
2.Fle
xibility
dynamic nature and cannot be called fixed
3.Sit
uatio
nal
faced by the manager.they not absolute nor stable
4.*Cau
se an
d Eff
ect
Rel
ations
hip
.
Principle division of work
.
the work dividend into different parts
5.Gen
e
ral St
ate
ment
derived from experiences and analysis.
6.
Eq
ual I
mp
ort
anc
e
no one principal is more important than other
7.Re
lati
ve
Principles are not absolute rather they are relative in nature
8.
Ca
ref
ul a
n
d Di
sc
reet App
licati
on
relative nature of principles,they can't be applied bindly
9.
Deci
si
on-
Mak
ing
the action or process of making important decisions.