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Principles Of Management

Question

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Explain the nature of management principles.

Solution

Nature of management principles is described as follows:

Universal Applicability: The principles of management are applicable to all types of organizations irrespective of their size and nature.
General Guidelines: They are only guidelines for action and don’t provide direct or readymade solution for a managerial problem.
Formed by practice and experimentation: The principles of management have been developed through experimentation as well as experience and wisdom of managers.
Flexible: The principles of management are not rigid prescriptions, which have to be followed absolutely. They are flexible and can be modified by the manager when the situation so demands.
Mainly behavioral: They are mainly behavioral in nature since they are devised to influence human behaviour.
Cause and effect relationship: The principles of management establishes relationship between cause and effect. They guide us as to what would be the effect if a particular principle were to be applied in a given situation.
Contingent: The use of principles of management is contingent or dependent upon
the prevailing conditions at a particular point of time.

Some More Questions From Principles of Management Chapter

Principles of Taylor and Fayol are mutually complementary. One believed that the management should not close its ears to constructive suggestions made by the employees while the other suggested that a good company should have an employee suggestion system whereby suggestions which result in substantial time or cost reduction should be rewarded.
Identify and explain the principles of Taylor and Fayol referred in the above para.

Name and explain the principle of management according to which a manager should replace 'I' with 'We' in all his conversations with workers.

Explain 'Harmony Not Discord' as a principle of Scientific Management.

Principles of Taylor and Fayol are mutually complementary. One believed that the management should not close its ears to constructive suggestions made by the employees while the other suggested that a good company should have an employee suggestion system whereby suggestions which result in substantial time or cost reduction should be rewarded.
Identify and explain the principles of Taylor and Fayol referred in the above para.

Explain how the principles of management:
a. Provide useful insights into the reality and
b. Help in thoughtful decision making.

Explain the technique of scientific management that is the extension of ‘Principle of division of work and specialisation’.

What is meant by principles of management?

State anyone principle of scientific management.

Explain any two techniques of Taylor's Scientific Management.

What is meant by ‘financial management'?

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