explain any four characterstic features of principles of management
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Answer:
Four characteristics of the principles of management: i. Applicability: Principles of management command applicability in all businesses in accordance with their suitability. ... Practical approach: Principles of management are developed through research results derived by handling real-life business problems. iam aslo studying this question right now
Answer:
The characteristics of 'principles of management are as follows:
i. Universally applicable. Management principles can be applied anywhere and everywhere by all types of organisations irrespective of their size, nature and region. However, the degree of their applicability would definitely be governed by such factors as the nature of business, scale of operations etc.
ii. Guidelines: Management principles act as guidelines and are considered to be the general premises for decision making. However, they do not provide straitjacket solutions to problems as real life business situations are cumbersome and dynamic, they call for specialised actions.
iii. Formed by experimentation Management principles have been developed over years of research and experimentation and are technical. They pertain to different working situations and can be modified by the manager as per the situations and the requirements.
iv. Flexible. Management principles are not rigid. They are flexible enough to be used and molded by the manager as per the need of the hour. This makes application of management principles in diverse business situations.