BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Principles of management were developed over years by experiences and observations of the managers. Every manager faces varying situations in real business organisations. Based on these experiences, they draw general conclusions and inferences that guide them in their action and decision making in similar situations.

Detailed explanation-2: -How are principles of management formed? (a) In a laboratory (b) By experiences of managers (c) By experiences of customers (d) By propagation of social scientists. Answer: (b) Principles of management are formed by the experiences of manager as it provides useful insights into reality.

Detailed explanation-3: -Principles of management are basic activities that can help you plan, organize and control operations related to material, people, machines, methods, money and markets. They provide leadership to human efforts so that they achieve set objectives efficiently.

Detailed explanation-4: -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.

Detailed explanation-5: -Based on Cause and effect: The principles of management are proposed to build up circumstances and results in a relationship with the goal that the discoveries can be applied to such given circumstances oftentimes. The standards of the board tell the imaginable impact if a specific rule is applied.