Principles of management equip the managers to foresee the cause and effect relationships of their decisions and actions so that the wastages assoCiated with a trial and error approach can be overcome. The point of significance of principle of management highlighted here is
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Optimum utilisation of Resources and Effective Administration is the significance highlighted by the statement 'Principles of management equip the managers to foresee the cause and effect relationships of their decisions and actions so that the wastages associated with a trial and error approach can be overcome.
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