Vimal Company Ltd., were earlier producing pencils, now they have decided to further venture into the field of notebooks and paper. What do you think is the company attempting to do? Identify and explain the concept.
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CBSE Notes Class 12 Business Studies Principles of Management
by admin December 24, 20198 min read
CBSE – Syllabus, Sample Papers, Question Papers, Notes
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Class 12 Business Studies Principles of Management – Get here the Notes for Class 12 Business Studies Principles of Management. Candidates who are ambitious to qualify the Class 12 with good score can check this article for Notes. This is possible only when you have the best CBSE Class 12 Business Studies study material and a smart preparation plan. To assist you with that, we are here with notes. Hope these notes will helps you understand the important topics and remember the key points for exam point of view. Below we provided the Notes of Class 12 Business Studies for topic Principles of Management.
Class: 12th
Subject: Business Studies
Topic: Principles of Management
Resource: Notes
CBSE Notes Class 12 Business Studies Principles of Management
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Candidates who are pursuing in Class 12 are advised to revise the notes from this post. With the help of Notes, candidates can plan their Strategy for particular weaker section of the subject and study hard. So, go ahead and check the Important Notes for Class 12 Business Studies Principles of Management.
1. Principle It refers to a statement which reflects the fundamental truth about some phenomenon based on cause and effect relationship.
2. Management Principles These are the statements of fundamental truth, they serve as a guide to thought and actions for managerial decision actions and their execution.
3. Derivation of Management Principles
Management principles have been derived on the basis of
(i) Deep observations
(ii) Repeated experiments
4. Nature of Principles of Management
(i) Universal Applicability The principles of management are universal in nature that means they can be applied to all types of organisations irrespective of their size and nature.
(ii) General Guidelines Management principle give guidelines to solve the problems, these principles do not provide ready made solution for all the problems.
(iii) Formed by Practice and Experiments The management principles are developed only after deep and through research work.
(iv) Flexibility These are not set of rigid statements. These can be modified by the managers who are using them.
(v) Mainly Behavioural Management principles are formed to guide and influence the behaviour of employees.
(vi) Cause and Effect Relationship Management principles are based on cause and effect that means these principles tell us if a particular principle is applied in a situation, what might be the effect.
(vii) Contingent Management principles are contingent or dependent upon the situation prevailing in organisation.