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CBSE Class 12-commerce Answered

what is Principle of management  
Asked by prodipnaskar747 | 31 Aug, 2018, 07:26: AM
answered-by-expert Expert Answer

Principles of Management refers to a broad and general guidelines for managerial decision making and actions.

Universally Applicability:  These are applicable to all types of organization.

General Guidelines: Guidelines to action but do not provide readymade solutions to problems

Formed by Experimentation: Developed over years of research & experimentation

Flexible:  Management principles can be modified if the situation demands

Mainly Behavioural:  Influences the behaviour of people & insists in improving relationship between human & material resources.

Cause & Effect Relationship: Effect is studied when principle is applied for a cause

Contingent: Application of management principles depends on

  • Situation
  • Nature of the manager
  • Requirement of the business
 
Answered by Tharageswari S | 01 Sep, 2018, 11:28: PM

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Tushar Aggarwal is working as the Managing Director in Aggarwal Infotech Limited'. He has got a long experience of management. He understands every complexity of management. This reservoir of knowledge he has obtained through continuous practice. Whenever he was faced with managerial problems, he faced them with firmness and tried to learn something from them. There are four departments in all in Mr. Aggarwal's company. They are: Marketing, Production, Finance and Personnel. The Marketing Department of the company has fixed high objectives of sales. All the Sales Executives are working hard day-in and day-out to achieve the objectives. On the other hand, the Manager of the production department has started the repair work in the factory at a large scale. Consequently, it has not been possible to supply the sales orders. It was beyond everybody's understanding how the two departments working under the so highly experienced Managing Director made such a big mistake.  
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