Principles of Management

Principles of management are broad and general guidelines for managerial decision making and behavior (i.e. they guide the practice of management).

Nature of Principles of Management

The nature of principles of management can be described in the following points:

1. Universal applicability i.e. they can be applied in all types of organizations, business as well as non-business, small as well as large.
2.General Guidelines: They are general guidelines to action and decision making however they do not provide readymade solutions as the business environment is ever changing or dynamic.
3.Formed by practice and experimentation: They are developed after thorough research work on the basis of experiences of managers.
4. Flexible: Which can be adapted and modified by the practicing managers as per the demands of the situations as they are man-made principles.
5. Mainly Behavioural: Since the principles aim at influencing complex human behaviour they are behavioural in nature.

6. Cause and Effect relationship: They intend to establish relationship between cause & effect so that they can be used in similar situationsContingent: Their applicability depends upon the prevailing situation at a particular point of time. According to Terry, “Management principles are ‘capsules’ of selected management wisdom to be used carefully and discretely”.

MANAGEMENT PRINCIPLES are the fundamental truth which act as a general guidelines for the manager for taking the managerial activities or the decisions squad the management principles.