Write short answer for the following. What is the nature of principles of management.

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.

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