Explain any four significance of principles of management
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(1) Provide Useful Insight to Managers: The principles of management were developed on the basis of the experience of various professional people. ... (2) Optimum Utilisation of Resources and Effective Administration: In every organisation physical (material, machines, money, etc.) and human (manpower) resources are used.
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Explanation:
The principles of management help in the optimum utilization of the available resources. It helps to predict the exact cause and effect relationship. The wastage of resources using the trial and error method can be avoided easily. The principles of management are based upon logic and not blind faith
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