PRINCIPLES OF MANAGEMENT meaning Nature

PRINCIPLES OF MANAGEMENT

Principle it refers to a statement which reflects moral rules or belief that helps to know what is right and what is wrong and that influences you actions. In other words you can say the principles means fundamental truth about some phenomenon based on cause and effect relationship.

Management is the art of managing the things, people etc. and taking numbers of decision in day to day activities.  

Management Principles these are the statements of fundamental truth, they assist as a guide to thought and actions for managerial decision actions and their execution.

Derivation of Management Principles

Management principles have been derived on the basis of

1.     Deep observations

2.     Repeated experiments

Nature of Principles of Management

1.     Universal Applicability

The principles of management are universal in nature that means they can be applied to all types of organizations irrespective of their size and nature.

2.     General Guidelines

Management principle give guidelines to solve the problems, these principles do not provide readymade solution for all the problems.

3.     Based on observation /experimentation

The management principles are developed only after deep and through research work.

4.     Flexibility

These are not set of rigid statements. These can be modified by the managers who are using them.

5.     Mainly Behavioral

Management principles are formed to guide and influence the behavior of employees.

6.     Cause and Effect Relationship

Management principles are based on cause and effect that means these principles tell us if a particular principle is applied in a situation, what might be the effect.

7.     Contingent

Management principles are contingent or dependent upon the situation prevailing in organisation.

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