State any four features of 'Principles of Management'

State any four features of ‘Principles of Management. [CBSE 2015, 2016]

Answer: The four features or nature of Principles of Management are as follows:

(i). Universal Applicability: Universality refers to that truth that is equally applicable in all spheres (both business and non-business). The principles of management are also universal in nature. All business (industrial units, etc.) and non-business organisations (educational institutions, government offices, playgrounds, agricultural farms, army, clubs and other social organisations), in order to achieve their objectives, have to apply more or less the same principles.

(ii). General Guidelines: The principles of management are not definite like the principles of physics and chemistry. The principles of physics and chemistry are very clear and definite, and their outcomes can be predicted. The principles of management, on the other hand, are of the nature of general guidelines, and they cannot be applied strictly.

(iii). Formed by Practice and Experimentation: Principles of management are the results of various problems faced by professional people. First of all, problems appeared and then through careful research work solutions were found. Thus, we recognise the solutions, found with the help of practice and experience as principles of management. Similarly, researchers undertake an experimental study to find out the principles of management.

(iv). Flexibility: The principles of management as they exist today are not in the form of final truths. As and when political, economic and social changes take place, new kinds of problems arise. Old principles are altered and new principles are propounded. Therefore, the principles of management are dynamic in nature and cannot be called stagnant or fixed.

State any four features of ‘Principles of Management'

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