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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Initiative
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Increase in efficiency
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Optimum utilization of resources
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Adaptation to changing technology
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Detailed explanation-1: -Thus, principles of management are significant because of optimum utilisation of resources. Increase in efficiency, initiative and adaptation to changing technology arrives at later stages, ones the resources are fully utilised.
Detailed explanation-2: -Division of responsibility-This principle emphasised that the work and the responsibility should be divided between the managers and the employees according to their role and nature. This would ensure efficiency and effectiveness in work.
Detailed explanation-3: -Question. Management principles increases managerial efficiency as the manager leaves routine meeting to his/ her subordinates and deal with exceptional situations which require his/her expertise by following the principle of delegation.