State the significance of principles of management
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The significance of Principles of Management:
Optimum utilisation of resources and efficient management: Both material and human resources are obtainable with the firm are restricted. ... By the best utilisation, the resources must be put to utilisation in such a way that they should give the most profit with minimum cost
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1.provideuseful insight to managers
2.optimum utilization of resources and effective administration
3.scientific. decisions
4. meeting changing environmental requirement
5.fulfilling social responsibility
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