Practicing Success
Principles of management are significant because these result in : |
Taking initiative Optimum utilisation of resources Employee satisfaction All of the above |
Optimum utilisation of resources |
Proper understanding of significance of management principles is essential to make sound decisions by managers. The significance can be discussed under the following heads- Increase in efficiency; Optimum utilisation of resources; Scientific decision making; Adaptation to changing environment; Fulfilling social responsibilities; Proper research and development; Training managers; and Effective administration. |