Explain any four characteristics of principles of management CBSE business studies 2016 class 11

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Explain any four characteristics of principles of management. - CBSE business studies 2016 class 11

Explain any four characteristics of principles of management. 


By:milan-ransingh

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Four characteristics of the principles of management:
i. Applicability: Principles of management command applicability in all businesses in accordance with their suitability. The extent to which they can be applied entirely depends on the business and its requirements.
ii. Basic framework: Principles of management are not readymade solutions to business problems. Rather, they only provide the basic framework or guidelines to tackle different problems in different scenarios applicable to the business.
iii. Practical approach: Principles of management are developed through research results derived by handling real-life business problems. This means they are practical in approach and not just a theoretical analysis of problems.
iv. Adaptability: Principles of management are adaptable to most business problems with slight variations. Different organisations find different aspects of these principles useful. Managers find them significant in dealing with different decision-making scenarios in real business.

Aparna-Dasgupta

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