NATURE OF MANAGEMENT PRINCIPLES

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.