Meaning of Management Principles , Characteristics /Features

Meaning of Management Principles

Principles of management are broad and general guidelines for the decision-making and behavior of managers.

Nature/ Characteristics /Features 

1. General guidelines
2. Formed by practice and experimentation 
3. Contingent
4. Flexible
5. Universal Applicability
6. Cause and effect relationship

Significance of management Principles

1. Provide useful insight into the reality
2. Optimum utilization of resources and effective administration
3.  Scientific / Thoughtful decision
4. Meeting changing environment requirements
5. Fulfilling social responsibility
6. Management training, education, and research.

• Henri Fayol – Principles of General Management – Father of General management  
• F.W. Taylor – Principles of Scientific Management / Techniques of Scientific Management – Father of Scientific management