Principles of Management

What is Management?

Management is needed for an organised life and vital to maintaining all kinds of management. Sound management is the backbone of flourishing businesses. Managing life means getting everything done to accomplish life’s aspirations and maintaining an establishment means getting everything done with and by other people to deliver its objectives.

To put it in other words, the organization and coordination of the pursuits of an industry for the idea of accomplishing determined objectives efficiently and thoroughly are marked as management.

What are the Principles of Management?

The administrative principle is the great and overall direction for determining the performance. For instance, while ascertaining about the promotion of an employee 1 manager may contemplate seniority, whereas the other may follow the principle of quality.

One may define principles of management from those of pure science. Management principles are not as firm as postulates of pure science. They deal with human traits and, hence, are to be employed creatively given the requirements of the position. Human behaviour is never inactive and so also technology, which business. Therefore all the principles have to keep step with these changes. For instance,

  • In the absenteeism of Information and Communications Technology (ICT), a manager could manage only a small workforce that too within a restricted geographical area
  • The approach of ICT has developed the ability of the managers to control over large business domains scattered across the globe
  • In promoting an understanding of the application of principles of management, it is also helpful to comprehend what these are not
  • The principles of management should be selected from techniques of management. Techniques are methods or techniques, which include a group of steps to be taken to achieve sought goals
  • Principles are guidelines to make judgments or actions while studying techniques. Moreover, principles should also be comprehended as being different from values

Also Read: Find Business Studies Syllabus For Class 12

The above mentioned is the concept, that is elucidated in detail about the Principles of management for the class 12 Commerce students. To know more, stay tuned to BYJU’S.