case study on principles of management
Answers
Answer:
The principles of management serve as broad and general guidelines for the managerial decision making and action.
Types of Principles of Management
Fayol’s Principles of General Management
Taylor’s Principles of Scientific Management.
Significance of Principles of Management
They help to provide managers with useful insights into reality and increase their efficiency in dealing with recurring problems.
They ensure optimum utilisation of resources as due to the presence of cause and effect relationship the outcome of the decisions and actions can be predicted. Moreover, it leads to effective administration as the principles tend to restrict the personal prejudices and biases.
They facilitate scientific decision making as they emphasise on logical thinking rather than blind faith.
They help to meet the changing requirements of the environment to the best advantage ofa organisation.
They help in fulfilling social responsibility of an organisation.
They facilitate the process of management training, education and research as they are at the core of management theory.