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 real point is optimum utilisation of resources and effective administration: principles help managers use the available resources with the least waste. They say nothing about buying cheap resources.
(B) Providing managers with ready-made solutions to all the problems — Incorrect. Principles are only general guidelines. They must be adapted to each situation, so they cannot give a ready-made answer to every problem.
(C) Meeting the static environmental requirements — Incorrect. The real point is meeting changing environment requirements. Principles are flexible, so they help a business adapt to change. NTA put ‘static’ where the book says ‘changing’, and the whole point turned upside down. Check each key word against the book.
(D) Help in taking scientific decisions — Correct. Decisions based on principles rest on logic and an objective study of facts, not on blind faith. So they are free from bias.
NCERT (2026-27 Edition): “(ii) Optimum utilisation of resources and effective administration: Resources both human and material available with the company are limited. They have to be put to optimum use. By optimum use we mean that the resources should be put to use in such a manner that they should give maximum benefit with minimum cost. …” “(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. …” “(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. …” “(ii) 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 | – | – | – | – |