Class 12 BST Chapter 2: Principles of Management Principles of Management - Class 12 BST Note

Class 12 Business Studies - Chapter 2
Principles of Management


1. Meaning of Principles of Management

Principles of Management are broad and general guidelines for managerial decision-making and

behavior. They are not rigid rules but flexible in nature.



Keywords: guidelines, behavior, decision-making, not rigid, flexible



2. Nature/Features of Principles of Management

1. Universal Applicability - Applicable to all organizations.

2. General Guidelines - Provide a direction.

3. Formed by Practice - Based on observation and experimentation.

4. Flexible - Can be modified.

5. Behavioral - Influence human behavior.

6. Cause & Effect Relationship - Show result-oriented behavior.

7. Contingent - Depends on the situation.



Keywords: universal, flexible, cause-effect, contingent



3. Significance of Principles of Management

1. Provides Useful Insight to Managers

2. Optimum Utilization of Resources

3. Scientific Decisions

4. Meeting Changing Environment

5. Fulfilling Social Responsibility



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