Question

Explain the following characteristics of Principles of Management:
(i) General Guidelines
(ii) Flexible
(iii) Cause and Effect Relationship

Hint:

Management principles guide decision-making but should be adapted to real-world scenarios for effective application.

Answer 1

(i) General Guidelines
- Principles of management provide a broad framework for decision-making but do not offer rigid, one-size-fits-all solutions.
- Real business situations are dynamic and complex, requiring adaptation.
(ii) Flexible
- Management principles are not rigid laws but flexible guidelines that can be modified as per the situation.
- Managers have discretion in applying these principles to suit organizational needs.
(iii) Cause and Effect Relationship
- Management principles establish a relationship between cause and effect, allowing managers to predict outcomes based on actions taken.
- However, due to varying business conditions, exact outcomes may differ in practice.