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Principles of Management — Business Studies STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceBusiness StudiesPrinciples of Management6 Marks
Question
Explain any five features of principles of management.
✓

Answer

The features of the principles of management are explained as follows:
  1. Universally applicable: Management principles can be applied anywhere and everywhere by all types of organisations irrespective of their size, nature and region.
  2. Guidelines: Management principles act as guidelines and are considered to be the general premises for decision making. However, they do not provide straitjacket solutions to problems.
  3. Formed by experimentation: Management principles have been developed over years of research and experimentation and are technical. They pertain to different working situations and can be modified by the manager as per the situations and the requirements.
  4. Flexible: Management principles are not rigid. They are flexible enough to be used and moulded by the manager as per the need of the hour.
  5. Indicative of cause-effect relationship: As management principles are based on years of experimentation conducted in similar situations, they provide a definite relationship between cause and effect.

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