Principles of Management.
Concept of principles of management.
Principles of management are the bond and general
guidelines for managerial decision making. They are
different from the principles of science as they deal with
human behavior. They are different from techniques of
Management as techniques are methods whereas
principles are guidelines to action and decision making.
Principles of management are different from values which
are formed as generally accepted behavior in society and
have moral coordination whereas principles are formed
through research having technical nature.
Nature of principle of management.
The nature of principle of management can be described
in the following points :-
1. Universal applicability.
i.e. they can be applied in all types of organizations , business as well as
non business , small as well as large.
2. General guidelines.
They are general guidelines to action which however do not provide
readymade solutions as the business environment is very changing or
dynamic.
3. Formed by practice and experimentations.
, They are developed after research work on the basis of experience of
managers .
4. Flexible.
Which can be modified by the practicing manager as per the demands of
the situations .
5. Mainly behavioral.
Since the principles aim at influencing human behavior they are behavioral
in nature.
6. Cause and effect relationship.
They intend to establish a relationship between cause and effect so that
they can be used in similar situations .
7. Contingent .
Their applicability depends upon the prevailing situation at a particular point
of time .
Significance of the principles of
Management.
The significance of principles of management can be
derived from their utility which can be understood from the
following points :-
● Providing managers with useful insights into reality.
● Optimum utilization of resources and effective
administration.
● Scientific decisions.
● Meeting the changing environmental requirements.
● Fulfilling social responsibility.
● Management training, education and research.
Concept of principles of management.
Principles of management are the bond and general
guidelines for managerial decision making. They are
different from the principles of science as they deal with
human behavior. They are different from techniques of
Management as techniques are methods whereas
principles are guidelines to action and decision making.
Principles of management are different from values which
are formed as generally accepted behavior in society and
have moral coordination whereas principles are formed
through research having technical nature.
Nature of principle of management.
The nature of principle of management can be described
in the following points :-
1. Universal applicability.
i.e. they can be applied in all types of organizations , business as well as
non business , small as well as large.
2. General guidelines.
They are general guidelines to action which however do not provide
readymade solutions as the business environment is very changing or
dynamic.
3. Formed by practice and experimentations.
, They are developed after research work on the basis of experience of
managers .
4. Flexible.
Which can be modified by the practicing manager as per the demands of
the situations .
5. Mainly behavioral.
Since the principles aim at influencing human behavior they are behavioral
in nature.
6. Cause and effect relationship.
They intend to establish a relationship between cause and effect so that
they can be used in similar situations .
7. Contingent .
Their applicability depends upon the prevailing situation at a particular point
of time .
Significance of the principles of
Management.
The significance of principles of management can be
derived from their utility which can be understood from the
following points :-
● Providing managers with useful insights into reality.
● Optimum utilization of resources and effective
administration.
● Scientific decisions.
● Meeting the changing environmental requirements.
● Fulfilling social responsibility.
● Management training, education and research.
