The significance of Principles of Management can be highlighted by
(A) Optimal procurement of cheap resources and justifiable administration
(B) Providing managers with ready-made solutions to all the problems
(C) Meeting the static environmental requirements
(D) Help in taking scientific decisions
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (D) only
(A) Optimal procurement of cheap resources and justifiable administration — Incorrect. The point is optimum utilisation of resources and effective administration: using the firm’s limited resources to give the maximum benefit at the least cost. It is not about buying cheap resources.
(B) Providing managers with ready-made solutions to all the problems — Incorrect. Principles are only general guidelines. They do not give ready-made solutions, because real business situations are too complex and keep changing.
(C) Meeting the static environmental requirements — Incorrect. The requirement is meeting the changing needs of the environment. Principles can be modified, and so they help managers keep up with change. One small word, static or changing, decides this point.
(D) Help in taking scientific decisions — Correct. Principles make decisions thoughtful and based on logic and an objective study of the situation, free from bias and blind faith.
NCERT (2026-27 Edition): “Significance of Principles of Management … (iii) Scientific decisions: Decisions must be based on facts, thoughtful and justifiable in terms of the intended purposes. They must be timely, realistic and subject to measurement and evaluation. Management principles help in thoughtful decision-making. They emphasise logic rather than blind faith. …” “(iv) Meeting changing environment requirements: Although the principles are in the nature of general guidelines but they are modified and as such help managers to meet changing requirements of the environment. …” “General guidelines: The principles are guidelines to action but do not provide readymade, straitjacket solutions to all managerial problems. …” |
Note: The same/similar question has been asked in different years by NTA as per the details given below:
| 2026 | 2025 | 2024 | 2023 | 2022 |
| 24-05 S1 21-05 S1 | – | – | – | – |