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Management Principles are technical in nature whereas values are ethical.

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Difference between Management Principles and Values

Management principles and values are two different concepts that are often used interchangeably. However, there is a significant difference between the two. Management principles are the guidelines that provide a framework for decision-making and management practices, while values are the ethical principles that guide an individual's behavior and actions.

Management Principles

Management principles are the fundamental concepts that guide the decision-making process in an organization. They are the guidelines that provide a framework for management practices. Management principles are based on empirical research, data analysis, and best practices. Some of the common management principles include:

• Planning


• Organizing


• Leading


• Controlling


• Staffing

These principles are essential for effective management and help managers make informed decisions that are aligned with the organization's goals and objectives.

Values

Values are the ethical principles that guide an individual's behavior and actions. They define what is right and wrong and provide a moral compass for decision-making. Values are deeply ingrained in an individual's personality and are shaped by their upbringing, culture, and experiences. Some common values include:

• Honesty


• Integrity


• Respect


• Responsibility


• Empathy

Values are essential for creating a positive work culture and building trust among employees. They help individuals make ethical decisions and ensure that their actions are aligned with the organization's mission and vision.

Conclusion

In conclusion, management principles and values are two different concepts that play a crucial role in organizational success. Management principles provide a framework for decision-making, while values guide an individual's behavior and actions. Both are essential for effective management and creating a positive work culture.