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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Providing managers with useful insights into reality
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Optimum utilisation of resources and effective administration
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Scientific decisions
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Meeting changing environment requirements
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Detailed explanation-1: -(ii) Thoughtful decision-making. (i) Useful insights into reality : Principles help managers to improve their knowledge and understanding of managerial situations. These principles enable managers to learn from past mistakes-and conserve time by solving recurring problems quickly.
Detailed explanation-2: -Principles of management help managers in taking decisions scientifically as the knowledge of management principles enables managers to learn the cause and effect relationship between variables operating in the organisation.
Detailed explanation-3: -i Principles of management provide useful insights into reality by enabling the managers to learn from the past mistakes and conserve time by solving recurring problems quickly.
Detailed explanation-4: -Principles of management do not provide readymade solution to all managerial problems because principles provide general guidelines to managers whereas real business situations are extremly complex and not based on theoretical knowledge.