NCERT Business studies | Principles of management | CBSE/PUC
https://sugarybloom.blogspot.com/ Chapter 2 PRINCIPLES OF MANAGEMENT 1.Explain the concept of principles of management. A managerial principle is a broad and general guideline for decision making and behaviour. For example while deciding about promotion of an employee one manager may consider seniority, whereas the other may follow the principle of merit. Principles of management deal with human behaviour and must be applied creatively according to the situation all the principles have to keep pace with the changing human behaviour Principles are guidelines to take decisions or actions while practising techniques. They are guidelines for behaviour. Principles of management are formed after research in work situations, which are technical in nature. But while practising principles of management, businesses have to fulfil social and ethical responsibilities towards society. 2.Explain the significance of management principles. T...