Principles of Management

Principles of Management

A principle refers to a fundamental truth. It establishes cause and effect relationship between two or more variables under given situation. They serve as a guide to thought & actions. Therefore, management principles are the statements of fundamental truth based on logic which provides guidelines for managerial decision making and actions. These principles are derived: –

  1. On the basis of observation and analysis i.e. practical experience of managers.
  2. By conducting experimental studies
    PS
    Unknown author from net!
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