BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Explanation: The contingency approach is the way to deal with the management and it depends on the possibility that there is no single ideal way of overseeing.

Detailed explanation-2: -Principles of management are contingent i.e. they are dependent upon the prevailing situation at a particular point in time. Management principles are applied in every situation where the objectives are attained through group efforts.

Detailed explanation-3: -Which feature of the principles of management is being described in the given statement? Explanation: (b) Principles of management are not based on rule of thumb/hit-and-trial method, but on a scientific approach.

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 channelising resources (human and material) into the best possible way.

Detailed explanation-5: -Explanation: The use of principles of management is unexpected as it relies on the common circumstance at a specific mark of time. The principles of management are adaptable, which implies that they are not inflexible, and can be adjusted by the management according to the circumstance.