(1) Provides managers with useful insights into reality

Management principles help managers to understand the practical real business situations properly and increase their efficiency.

(2) Optimum utilization of resources

Management principles help the managers to understand the effect of their decisions by cause and effect relationship and make the maximum possible utilization of resources-physical, financial as well as human resources.

(3) Scientific decisions

Management principles help managers in taking well thought out SMART decisions based on facts.

(4) Meeting changing requirements

Management principles help managers in meeting the requirements of changing environment due to economic, social and economic factors.

(5) Fulfilling social responsibility

As the Management principles are dynamic day to day social requirements are easily fulfilled by the managers.

(6) Management training, education and research

Management principles prove to be of great help to the budding managers to learn the art and science of management.

Principles of Management

Check for More Posts in This Category