(1) Providing Managers With Useful Insights Into Reality

The application of principles of management helps the managers to take right decisions at the right time.

These principles of management help managers to tackle the diverse problems in a dynamic business environment.

(2) Optimum Utilization of Resources & Effective Administration

Resources are always scarce and limited.

By applying the management principles, the managers can focus on optimum use of available resources so as to achieve productive results at minimum cost and maximum profits.

It results in effective administration by channelizing resources (human and material) into the best possible way.

(3) Scientific Decisions

Application of principles of management makes the manager more realistic, thoughtful, justifiable and free from personal bias.

The decisions taken on the basis of principles of management are subject to evaluation and objective assessment.

(4) Meeting Changing Business Environment

Although the principles are in the nature of general guidelines they are modified and help managers to meet the changing requirements of the environment.


(5) Fulfilling Social Responsibility

Principles of management not only help in achieving the goals of the organisation effectively and efficiently but they also guide the managers to fulfill their commitment towards its employees and society.


(6) Management Training, Education and Research

Proper understanding of principles is the base of training, research, and development in the field of management.

Management is taught on the basis of these principles which help the management institutes prepare future managers.

These Principles help managers to take decisions and actions in the right manner.

Application of these principles by the managers brings innovation in the field of management.....