1. The
management principles are general guidelines
and not a definite set of principle which can be applied to get certain specific
result as is the case with Science. This
principle acts as a guide for the manager’s in a given situation only and does
not guarantee any absolute and predictable result.
2. The management
principles have universal applicability,
which means that they can be used in business as well as non- business environment’s
and issues, as well as at profit & non profit making units, these
principles are helpful for all and can be applied and used by all in general. They
can be used by anyone depending upon the availability of factors and nature of
the issue.
3. The management
principles establish a relationship
between the cause and effect i.e. they specify the probable outcome for a
particular situation if, certain suitable principle for that situation is
applied. The principle also states, what will be the effective result in a
given situation if the activities are performed in accordance.
4. The management
principles are formed by practice and experience of the managers, scholars
and researchers. Initially in a given situation, the managers face the problems
with priority of attention need. At this juncture, the researchers conducted
the study of the whole system and process involved, to find some useful
solutions which come out in the form of these principles, and hence adopted by
all.
5. The management
principles are flexible in nature, i.e. they can be modified and applied
according to the changing situation of the dynamic business environment. As we
all know that the environment in which business exist and operates, is effected
by the geographical, social, political, economic factors and also has some
inherent factors, which keep on changing and the managers have to use the
principles in a modified form rather then in their original form.
6. The management
principles are contingent to the happening of a given situation. The
manager is free to decide whether to apply them or not, when any problem
arises. This implies that the principles are dependent on the nature of situation
and cannot be applied blindly on any situation. These need to be modified
according to the problem and then to be applied.
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