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प्रश्न
Write short note on the following.
Significance of management.
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उत्तर
Principles of management play an important role in governing managerial practices. The following points highlight the significance of principles of management:
i. Help gain insights into reality - Principles of management are based on years of experimentation and experience. Therefore, these principles guide managers when they face real-life problems.
ii. Ensures optimal use of resources and efficiency - Principles of management optimize the use of the resources. With the help of these principles, management can determine and predict the exact cause and effect relationship of their decisions. Thus, any plausible wastage of resources is avoided and efficiency is attained.
iii. Promote research and development - The principles of management are flexible in nature and can therefore be moulded as per the requirements. This in turn helps the organizations to change according to the need and invest in R&D accordingly.
iv. Focus on social responsibility - Management principles help the managers and workers of any organisation in fulfilling their social responsibilities. The principles focus on the importance of taking care of business dealings while paying equal attention to customers’ values.
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संबंधित प्रश्न
Principles of management provide managers with useful insights into reality. Which of the following statements explain this appropriately?
Identify an important principle of management control in which only significant deviations which go beyond the permissible limit should be brought to the notice of management.
Which of the following does not apply to Principles of Management?
If a manager is not able to achieve the target production of 6,000 units but is able to reduce the costs significantly, then what will he be considered as?
In a cotton textile mill, various tasks viz. Spinning, weaving, sizing, bleaching, etc. Were divided to different groups of persons. Identify the principle of management stated here:
Explain optimum Utilisation of resources and effective administration.
Explain Meeting Changing Environment requirements.
Identify the point of significance of management illustrated in the picture
Management principles are applied differently under different situations.
What do management principles provide to managers as part of their core significance?
Besides providing insights, management principles primarily serve to guide:
The significance point "Insights to managers" refers to management principles providing:
Which significance of management principles helps in making the best use of available resources?
A manager analyses sales data and market evidence before choosing a pricing strategy instead of relying on guesswork. Which significance of management principles does this reflect?
A firm rapidly shifts to online delivery after consumer preferences change and new regulations alter the market. Which significance of management principles enabled this adaptation?
A company installs pollution-control equipment and funds local community development. Which significance of management principles guides such managerial action?
