Question

Explain any two points regarding significance of Principles of management?
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Answer 1

hey!

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there are two principles of management that are:-

(i) they Providing knowledgeable Managers with Useful Insights into Reality:-

When managers follow principles it adds to their knowledge ability and understanding of managerial situations and circumstances. This improves managerial efficiency.

example:-

• when managers use principle of delegation then they get more time to concentrate on critical areas of working.

(ii) they can also help forScientific Decision Making:-

• management principles help in thoughtful decision making. They emphasise on logic rather than blind faith.

hope help u!!!

Answer 2

Answer:

Explanation:

(1) Provide Useful Insight to Managers:

The principles of management were developed on the basis of the experience of various professional people. The principles make the manager aware about the manner in which he should act in various situations so that he does not repeat the mistakes of the previous managers.

In this way, timely guidance reduces the wastage of resources and the objectives can be achieved in a less expensive manner.

For example, according to one principle of management, i.e., division of work, a job is divided into many small units. Every unit or part is assigned to different individuals. Each individual does the same work repeatedly that has been assigned.

He gets used to it which helps him to perform his job efficiently and quickly. Consequently, the entire job is completed in an economical manner.

(2) Optimum Utilisation of Resources and Effective Administration:

In every organisation physical (material, machines, money, etc.) and human (manpower) resources are used. The function of management is nothing but to put them to optimum use or avoid wastage of resources. And it is possible only when a manager makes use of the principles of management.

According to the principle of ‘unity of command’ there should only be one boss for an employee at a time. In case there is more than one boss, the employee will not be in a position to work properly. Consequently, human resource will be wasted.

Therefore, if we desire to use the human resource favourably, this principle has to be adopted. Similarly, many other principles ensure favourable utilisation of various other resources.

The primary need of every organisation is that its administrative system should be effective. Only that administrative system is called effective where the managers can take balanced and quick decisions. In order to take such decisions, sufficient information and authority should be available.

This is made possible with the help of the principles of management. For example, the principle of ‘authority and responsibility’ advocates granting of sufficient authority, while the principle of scalar chain advocates making adequate provision for providing information.