Question

Which of the following statements correctly describe the significance of Principles of Management?
A) Principles of Management provide a universal framework to guide managerial decisions and actions.
B) They are rigid rules that must be followed without any adaptation.
C) They help managers predict and control organizational outcomes effectively.
D) Principles of Management are only relevant for large organizations and not for small businesses.

• A. Only A, B, and D
• B. Only A, and C
• C. Only A, C, and D
• D. All of the above

Hint:

Principles of Management promote efficient administration, adaptability, and provide the foundation for management learning — NOT personal instinct.

Answer 1

The Correct Option is B

Let's analyze each statement related to the significance of Principles of Management:

1. A) Principles of Management provide a universal framework to guide managerial decisions and actions.
   This statement is correct. Principles of Management offer a general framework that aids managers in planning, organizing, leading, and controlling effectively, irrespective of the organization's size or industry.
2. B) They are rigid rules that must be followed without any adaptation.
   This statement is incorrect. Principles of Management are flexible guidelines that can be adapted and interpreted according to the situational needs of the organization.
3. C) They help managers predict and control organizational outcomes effectively.
   This statement is correct. These principles assist managers in forecasting and regulating the various activities within an organization, improving efficiency and effectiveness.
4. D) Principles of Management are only relevant for large organizations and not for small businesses.
   This statement is incorrect. The principles are applicable to organizations of all sizes, including small businesses, as they provide valuable insights and frameworks for managing efficiently.

The correct statements, describing the significance of Principles of Management, are A and C.
Hence, the correct answer is: Only A, and C.