BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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experimentation and observation
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research in laboratory
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none of the above
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all of the above
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Detailed explanation-1: -Principles of management were developed over years by experiences and observation of the managers. Every manager faces varying situation in real business organisation. Based on these experiences, they draw general conclusions and inferences that guide them in their action and decision making in similar situation.
Detailed explanation-2: -(iii) Formed by practice and experimentation: The principles of management are formed by experience and collective wisdom of managers as well as experimentation. For example, it is a matter of common experience that discipline is indispensable for accomplishing any purpose.
Detailed explanation-3: -Principles of management formed by the experience of managers. Therefore the correct answer is option b.
Detailed explanation-4: -(ii) On the basis of experimentation: All the principles of management establish a cause-and-effect relationship between variables, which means that they are developed on the basis of experimental studies.
Detailed explanation-5: -Management principles are also based on scientific enquiry & observation and not only on the opinion of Henry Fayol. They have been developed through experiments & practical experiences of large no. of managers. E.g. it is observed that fair remuneration to personal helps in creating a satisfied work force.