Principles: refers to statement which reflects about fundamental truth about some
phenomenon
Principles of management: These are the statement of fundamental truth i.e., board and
general guidelines for decision making and behavior of management
Nature of management principles
1) Universal application: the principle of management can be applied to all types of
organization irrespective of their and nature.
2) General guidelines: management principles are guidelines to actions but not readymade
solution for any problem.
3) Formed by practice and experiment: these are developed after proper observation and
experiments.
4) Flexible: some changes can be made by the managers in the principles of the company
according to the requirements.
5) Mainly behavior: these are formed to guide and influence the behavior of the
employees and insist on improving relationship between superior, subordinates and all
the members of organization.
6) Cause and effect relationship: these principles tell us if particular principle is applied in a
situation, what might be effect.
7) Contingents: these are dependent on the situation prevailing in the organization and
have to be changed with changes in situation.
Significance of management principles
1) Providing manager with useful into reality
2) Optimum utilization of resources
3) Meeting changing requirements
4) Effective administrations
5) Fulfilling social responsibilities
6) Management training , education, and research
Fayol`s principles of management
1) Division of work
2) Authority and responsibility
3) Discipline
4) Unity of command
phenomenon
Principles of management: These are the statement of fundamental truth i.e., board and
general guidelines for decision making and behavior of management
Nature of management principles
1) Universal application: the principle of management can be applied to all types of
organization irrespective of their and nature.
2) General guidelines: management principles are guidelines to actions but not readymade
solution for any problem.
3) Formed by practice and experiment: these are developed after proper observation and
experiments.
4) Flexible: some changes can be made by the managers in the principles of the company
according to the requirements.
5) Mainly behavior: these are formed to guide and influence the behavior of the
employees and insist on improving relationship between superior, subordinates and all
the members of organization.
6) Cause and effect relationship: these principles tell us if particular principle is applied in a
situation, what might be effect.
7) Contingents: these are dependent on the situation prevailing in the organization and
have to be changed with changes in situation.
Significance of management principles
1) Providing manager with useful into reality
2) Optimum utilization of resources
3) Meeting changing requirements
4) Effective administrations
5) Fulfilling social responsibilities
6) Management training , education, and research
Fayol`s principles of management
1) Division of work
2) Authority and responsibility
3) Discipline
4) Unity of command
