Nature/Features of Principles of Management?

Introduction: - Principles of management are the guidelines to be followed by managers in managing the organization. No manager can be effective if he/she does not follow the principles of management. Therefore, managers in all organizations, whether large or small, business or non-business, and at all levels (top, middle and lower) must follow the principles of management.

Definition: -“A basic generalization that is accepted as true and that can be used as a basis or reasoning or conduct.”

The following are some of the features of a Joint Stock Company 1 .

1.      Management Principles are universal: - Management principles are universally applicable. They can be applied everywhere and all situations of business. Not only that, they are applicable to all types of business organizations, irrespective of size of business, nature of business, etc. similarly they are applicable to all level of management.

2.      Management principles are Flexible: - Management principles are flexible in nature. It means they can be changed or modified according to the situation. Managers can bend these principles to suit the requirement. .

3.      Cause and effect relationship: -Principles of management are the base for taking decisions. They determine the cause or reason for a particular effect. E.g. payment of good wages and incentives helps in increasing the output of workers or making effective advertisement increased the sale of a product.

4.      Management principles are aimed at influencing human behaviour: - Management is a group activity. Management aims at achieving certain goal through a group of human beings. Management principles are designed to influence human beings. These principles control a group of persons and direct them to achieve the objectives.

5.      All Principles are equal important: - All the principles of management are equally important. All are to be practiced simultaneously to get a perfect result. No one principle is more important than other. If any single principle is not practiced or followed by the manager, it affects the working of the organization.
1 .

6.      Management principles are relative in nature: -Management principles are the principles of social science. They are not absolute like principles of science. It means these principles are applied in different ways in different situations. They are to be changed or modified according to the situation to get correct and desired result.