Nature of Principles of Management
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The nature and characteristics of principles of management can be briefly explained as follows:
1. Basic Guidelines : The principles provide basic guidelines to the managers to manage the subordinates effectively. If a manger follows the well established principles of management then he/she would be in better position to get the work done effectively and efficiently from the subordinates.
2. Applicable to business and non-business organisations: The principles of management are universal in nature. They are applicable to business organisations as well as to non business organisations. For instance the principles of management must be followed by managers in a non-business organisation such as hospitals, educational institutions, charitable trust etc.
3. Applicable at all levels: The principles of management must be followed by managers at all levels. This is because, managers at all levels have to deal with their subordinates to get the work done. Therefore managers at the top level and also at the middle and lower level must follow the principles of management in order to get the work done efficiently and effectively from the subordinates.
4. Applicable to any size of business : The principles of management are applicable not only to large organisations such as joint stock companies but also to small organisations. For instance a sole trader with limited number of employees has to follow the principles of management in order to motivate the employees and to to run the organisation successfully.
5. Time Tested: The principles of management are time tested. The basic principles of management have remained the same number of centuries. The kings and religious leaders have followed the principles of management since the days of civilization. Also the business and non-business organization have used the principles of management since ages. Whenever there are employees or group effort, there is need to manage people effectively with the help of principles.
6. Intangible : The principles of management are not directly visible. The effect of principles can be felt by the results. If the managers follow the principles then there can be higher results in the organisation in the form at:
* Reduction of wastage
* Optimum use of resources
* Motivated and dedicated workforce
* Higher efficiency
7. Global Application: The principles of management have global application. The principles of management are not restricted to a few countries. Effective managers in all organisations across all continents of the globe do follow the principles of management.
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