Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Principles of Management

Question:

Which of the following point is related with the significance of principle of management?

A) Cause and effect relationships
B) Scientific decision making
C) Fulfilling the social responsibility
D) Universal applicability
E) Optimum utilization of resources

Choose the correct ans from the below.

Options:

ABC

BCD

BCE

CDE

Correct Answer:

BCE

Explanation:

The principles of management derive their significance from their utility. They provide useful insights to managerial behavior and influence managerial practices. Managers may apply these principles to fulfil their tasks and responsibilities. Principles guide managers in taking and implementing decisions. The significance of principles of management can be discussed in terms of the following points:

  • Providing managers with useful insights into reality
  • Optimum utilization of resources and effective administration
  • Scientific decision making 
  • Meeting changing environment requirements
  • Fulfilling the social responsibility
  • Management training, education and research

* Universal applicability & use and effect relationships is the feature of principle of management.