Management principles have to keep pace with the changing requirement of the business environment.

True

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False

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Q. Why does a school have to keep pace with the changing society?

What is the significance of management principles in the context of environmental changes?

The application of the principles of management has to be changed as per the requirements of the prevailing situation at a particular point in time. Which feature of the principles of management is being described in the given statement?

“The managers have to respond suitably to cope with changing environment”. Enlist some of the managerial responses.

Explain how principles of management :

(i) Provide useful insight into reality.

(ii) Help in thoughtful decision-making.

(iii) Help the managers in meeting changing environmental requirements.

(iv) Help the managers in making scientific decisions.

(v) Do not provide ready-made solutions to all managerial problems.

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