MSG Team's other articles

10235 Is Management Really a Profession? Key Insights

Over a large few decades, factors such as growing size of business unit, separation of ownership from management, growing competition etc have led to an increased demand for professionally qualified managers. The task of manager has been quite specialized. As a result of these developments the management has reached a stage where everything is to […]

10226 Management as a Discipline

Management as a discipline refers to that branch of knowledge which is connected to study of principles & practices of basic administration. It specifies certain code of conduct to be followed by the manager & also various methods for managing resources efficiently. Management as a discipline specifies certain code of conduct for managers & indicates […]

10225 Management as an Art

Art implies application of knowledge & skill to trying about desired results. An art may be defined as personalized application of general theoretical principles for achieving best possible results. Art has the following characters – Practical Knowledge: Every art requires practical knowledge therefore learning of theory is not sufficient. It is very important to know […]

10228 5 Functions of Management: Planning, Organizing, Staffing, Directing and Controlling

Management has been described as a social process involving responsibility for economical and effective planning & regulation of operation of an enterprise in the fulfillment of given purposes. It is a dynamic process consisting of various elements and activities. These activities are different from operative functions like marketing, finance, purchase etc. Rather these activities are […]

10224 Management and Administration

According to Theo Haimann, “Administration means overall determination of policies, setting of major objectives, the identification of general purposes and laying down of broad programmes and projects”. It refers to the activities of higher level. It lays down basic principles of the enterprise. According to Newman, “Administration means guidance, leadership & control of the efforts […]

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  1. Principles of Management are Universal

    1. Management principles are applicable to all kinds of organizations - business & non business.
    2. They are applicable to all levels of management.
    3. Every organization must make best possible use by the use of management principles.
    4. Therefore, they are universal or all pervasive.

  2. Principles of Management are Flexible

    1. Management principles are dynamic guidelines and not static rules.
    2. There is sufficient room for managerial discretion i.e. they can be modified as per the requirements of the situation.
    3. Modification & improvement is a continuous phenomenon in case of principles of management.

  3. Principles of Management have a Cause & Effect Relationship

    1. Principles of management indicate cause and effect relationship between related variables.
    2. They indicate what will be the consequence or result of certain actions. Therefore, if one is known, the other can be traced.

  4. Principles of Management - Aims at Influencing Human Behavior

    1. Human behavior is complex and unpredictable.
    2. Management principles are directed towards regulating human behavior so that people can give their best to the organization.
    3. Management is concerned with integrating efforts and harmonizing them towards a goal.
    4. But in certain situations even these principles fail to understand human behavior.

  5. Principles of Management are of Equal Importance

    1. All management principles are equally important.
    2. No particular principle has greater importance than the other.
    3. They are all required together for the achievement of organizational goals.

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