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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Which THREE of the following statements about management principles are correct? Select all that apply
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Management principles are statements of fundamental truth based on logic and the practical experience of managers
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Management principles are dynamic guidelines and not static rules
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Management principles are applicable to businesses but not to non-business organizations
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Management principles enable managers to handle complex situations which may arise unexpectedly
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Explanation:
Detailed explanation-1: -The principles of management can be distilled down to four critical functions. These functions are planning, organizing, leading, and controlling.
Detailed explanation-2: -Decision making, a part of the planning process, involves selecting a course of action from a set of alternatives. Organizing is grouping activities and resources in a logical fashion. Leading is the set of processes used to get people to work together to advance the interests of the organization.
Detailed explanation-3: -Answer/Explanation (c) Principles of Management are said to be evolutionary in nature as these principles have evolved over a long period of time with continuous practice and experimentation.
There is 1 question to complete.