PPT - Principles of Management | Business Studies (BST) Class 12 - Commerce PDF Download

 Page 1


Principles of 
Management
Page 2


Principles of 
Management
Management Principles: The 
Concept
Definition
A managerial principle is a 
broad guideline for 
decision-making and 
behavior. They are not as 
rigid as principles of pure 
science.
Adaptability
Principles must adapt to 
human behavior and 
changing technology. They 
are applied creatively based 
on situational demands.
Distinction
Management principles differ from techniques (procedures) and 
values (moral rules). They are technical guidelines formed 
through research.
Page 3


Principles of 
Management
Management Principles: The 
Concept
Definition
A managerial principle is a 
broad guideline for 
decision-making and 
behavior. They are not as 
rigid as principles of pure 
science.
Adaptability
Principles must adapt to 
human behavior and 
changing technology. They 
are applied creatively based 
on situational demands.
Distinction
Management principles differ from techniques (procedures) and 
values (moral rules). They are technical guidelines formed 
through research.
Nature of Management Principles
1
Universal Applicability
Principles apply to all 
organizations but vary in extent 
based on nature, activity, and 
scale of operations.
2
General Guidelines
They provide direction but not 
readymade solutions. Business 
situations are complex and 
dynamic.
3
Experience-Based
Formed through collective 
wisdom, experience, and 
experimentation of managers.
4
Flexible & Behavioral
Not rigid prescriptions. They influence human behavior and establish cause-effect relationships.
Page 4


Principles of 
Management
Management Principles: The 
Concept
Definition
A managerial principle is a 
broad guideline for 
decision-making and 
behavior. They are not as 
rigid as principles of pure 
science.
Adaptability
Principles must adapt to 
human behavior and 
changing technology. They 
are applied creatively based 
on situational demands.
Distinction
Management principles differ from techniques (procedures) and 
values (moral rules). They are technical guidelines formed 
through research.
Nature of Management Principles
1
Universal Applicability
Principles apply to all 
organizations but vary in extent 
based on nature, activity, and 
scale of operations.
2
General Guidelines
They provide direction but not 
readymade solutions. Business 
situations are complex and 
dynamic.
3
Experience-Based
Formed through collective 
wisdom, experience, and 
experimentation of managers.
4
Flexible & Behavioral
Not rigid prescriptions. They influence human behavior and establish cause-effect relationships.
Significance of Management Principles
Useful Insights
Provide managers with 
real-world 
understanding, 
increasing efficiency 
and learning from past 
mistakes.
Resource 
Optimization
Enable optimal use of 
limited resources with 
maximum benefit and 
minimum cost.
Scientific Decisions
Promote logical, fact-
based decisions free 
from bias and 
prejudice.
Social Responsibility
Help businesses fulfill 
obligations to 
stakeholders and 
society at large.
Page 5


Principles of 
Management
Management Principles: The 
Concept
Definition
A managerial principle is a 
broad guideline for 
decision-making and 
behavior. They are not as 
rigid as principles of pure 
science.
Adaptability
Principles must adapt to 
human behavior and 
changing technology. They 
are applied creatively based 
on situational demands.
Distinction
Management principles differ from techniques (procedures) and 
values (moral rules). They are technical guidelines formed 
through research.
Nature of Management Principles
1
Universal Applicability
Principles apply to all 
organizations but vary in extent 
based on nature, activity, and 
scale of operations.
2
General Guidelines
They provide direction but not 
readymade solutions. Business 
situations are complex and 
dynamic.
3
Experience-Based
Formed through collective 
wisdom, experience, and 
experimentation of managers.
4
Flexible & Behavioral
Not rigid prescriptions. They influence human behavior and establish cause-effect relationships.
Significance of Management Principles
Useful Insights
Provide managers with 
real-world 
understanding, 
increasing efficiency 
and learning from past 
mistakes.
Resource 
Optimization
Enable optimal use of 
limited resources with 
maximum benefit and 
minimum cost.
Scientific Decisions
Promote logical, fact-
based decisions free 
from bias and 
prejudice.
Social Responsibility
Help businesses fulfill 
obligations to 
stakeholders and 
society at large.
Taylor's Scientific Management
Frederick Winslow Taylor (1856-1915)
American mechanical engineer who sought to improve industrial efficiency 
during the industrial revolution.
Core Belief
By scientifically analyzing work, it's possible to find "one best way" to do it.
Key Contributions
Time and motion studies, scientific approach to management, and partnership 
between management and workforce.
Legacy
Known as "Father of Scientific Management" for his 1911 article and influential 
work at Bethlehem Steel Company.