1) State/ Explain the nature of principles of management?

Ans: Management principles re the unwritten rules which the manager use while managing work or
talking decision. The principle providing guidelines to managers to take decision. The nature of principle
of management is explained as follows:
Not RIGID: - management principles are flexible is nature and not rigid. They can be adjusted
according to the needs and situation of the organization. Need and situation of the organization
changes with changes in business environment and time For e.g. With changes in technology,
application of management principles change
Aims at Influencing Human Behavior: - In an organization, efforts of all the individual are
directed towards achieving specific organization goal. Hence, management principle are
designed to influence behavior of these individual so as to archive desire objective For e.g.
management principles help to motive employees and thereby increase the efficiency and in
turn increase profitably of the company
The cause and effect relationship determination: - Management principles help in determination
the cause-effect relationship for many decisions. For e.g. If the company increases expense on
maintenance of machine (cause), their efficiency and life increases (effect).
Universally accepted: - management principles can be applied anywhere i.e. business
organization, government, school etc. Further it can be applied to business of any size and
nature.
Relative in nature: - Principles of management are relative in nature i.e. they are applied in
different ways and in different situation. They can be modified or changed according to the
situation to set the proper result in an organization. They are not absolute
Equal importance: - Using these management principles in isolate way will not help a company
to achieve its objectives. Hence, equal importance has to given to all management principles
and they are to be applied simultaneously to achieve desire objectives

2) What is the significance of the principle of management?
Ans: - Management principle are the unwritten rules which the manages use while managing work or
talking decisions. These principles provide guidelines to managers to take decisions. Since management
principle managers to take decisions. Since management principles are universally acceptance and
followed, it is important to study the significance of management principles
Achieving Co-ordination and control: - management principle help in better co-ordination and
control of resource. These principles help the managers to co-ordinate the activities of various
departments. As a result, goals of the organization can be achieved easily.
Acts as a guide to research and developed: - management principles are dynamic and future
oriented. They give encouragement to R and D to increase future competency of an
organization in changing environment.
Increasing efficiency: - use of management principle helps in effectively handling the
laborers/workers so as to reduce wastage and brings co-ordination between then which leads
to an increased efficiency.
Improvers understanding: - management principles help managers to improve their
understanding of the situation in the organization and thereby help them to find out effective
solution to various management problems.
Objective approach: - management principles help managers to develop an objectives approach
which making decisions. Thus helps to arise at a better solution to given problem.
Understanding Social Responsibility: - Business enterprises are a part of society. They draw all
their resources required from the society. Therefore, they have same responsibility towards the
society. Principles of management help the business organization to understand their
responsibility towards the society. They shoes the ways of fulfill the responsibility. For e.g.
Business Organization should focus on developed eco-friendly products.