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Questions
Explain 'Universal Applicability' as a feature of principles of management.
Explain the following characteristic of principles of management.
Universal applicability
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Solution
Management principles can be used globally in any circumstance, subject to the conditions and requirements of the situation. For example, regardless of size (small, medium, or large), every business must adhere to sales and marketing concepts in order to sell their products/services. However, techniques to sales and marketing will differ based on the nature of the product/service and the representative industry.
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After completing her Bachelors in Fashion Designing from a well-known college in France, Aditi has opened a boutique in a posh market in Kolkata. She has divided the work in smaller units and each employee is well trained to perform his/her task efficiently. The sales persons are allowed to close a deal with a buyer by giving a maximum of 5 percent discount, whereas the decision to give any further discount rests with Aditi as the final authority. In the earlier period of her business venture, employees were asked to put in extra hours of work. In return she had promised to give them a special incentive within a year. Therefore, when the business was doing well, she honour her commitment by giving bonus to her employees. She also instructed her employees that communication from top to bottom should follow the official lines of command. However, she tends to be more biased towards her female employees, when it comes to solve the conflicts among employees. |
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