BCom Notes Part II Management Characteristics of Management Principles

If you want to view other notes of this subject. Click Here.

If you want to view other notes of BCom Part II. Click Here. 

Characteristics of Management Principles

Describe the characteristics of management principles also explain it needs & importance? Characteristics of Management Principles

The characteristics of management principles may be examined as follows:

1. Management principles are derived from analysis of management functions and processes.

2. There are two types of principles:

• Descriptive which attempt to explain and predict the behavior of organizational members and managerial decisions and their relationships.
• Normative which attempts to prescribe and evaluate the behavior of organizational members including the managers. They prescribed what ought to be, what is good, right and desirable.

3. The principles known today have their origin in the works of classical writers and thinkers like Taylor, Fayol and Mooney and Reiley.

4. They are universal in the sense that they are valid for most organizational under most circumstances.

5. They are flexible in nature and change with the changes in the environment in which an organization exists. It is to be noted that nothing is permanent is the landslide of management, because of the complex and unpredictable nature of human behavior.

Need and Importance of Management Principles

Proper use of management principles will probably improve organizational performance. According to George R. Terry, Principles of management are to a manager as a table of strengths of materials is to a civil engineer. The value of the principles lies in the foundation they provide for efficient conduct of management practice. By means of principles, a manager can avoid fundamental mistakes in his job and foretell the results of his actions with confidence.

Principles help in several ways – increasing the managerial efficiency, increasing the productivity of workers, enhancing managerial knowledge and thinking, improving research in management, serving as aid to training enhancing social welfare by helping in improving the quality of life of people and community resources to best advantage of organizational members, etc.

The main purpose of management principles is to make available useful elements of a systematic theory of management, so as to improve the management practice. They provide a means of organizing knowledge and experience in management.

The above discussion clearly brings out that it is due to all the above facts that management principles have become a permanent need in today’s management world.

Various Management Principles

A number of management thinkers have formulated various management principles. Taylor and Fayol has enunciated the most important principles.