Write short answer for the following.
What is the nature of principles of management.
ANSWER:
The following points highlight the nature of principles of management:
i. Universal - Universality of management principles implies that they can be applied to every firm, irrespective of its size, nature or location.
ii. Act as guidelines - Management principles act as guidelines; they are considered general premises for decision making. However, they do not provide straitjacket solutions to all problems.
iii. Experiment based - Management principles have been developed through years of research and experimentation; that is why they are technical in nature. They pertain to different working situations and can be modified by managers as per the situations and requirements.
iv. Behavioral - Management principles aim at influencing the behaviour of individuals; the applicability of these principles varies according to changes in human nature.
v. Indicative of cause–effect relationship - As management principles are based on years of experimentation, they provide a definite cause and effect relationship.
vi. Contingent - Management principles are contingent, as they can be used in different situations depending upon the nature of the manager and the requirement of the situation.
