Question

Explain the following points of significance of principles of management: (i) Fulfilling social responsibility (ii) Meeting changing environment…

Accepted Answer

• (i) Fulfilling social responsibility: Businesses are now forced to fulfill their social • responsibilities due to increased awareness of the public. Management theory and management principles have also evolved, and principles have also assumed newer and contemporary meanings with the change in time. • (ii) Meeting changing environment requirements: Principles of management can be modified according to • the changes taking place in the environment. Hence, they help the managers in meeting changing environment requirements. • (iii) Scientific decisions: Principles of management help in taking scientific decisions • because the decisions based on principles are free from bias. They are based on the objective assessment of the situation. OR Q(b). Explain the following principles of management: (i) Unity of direction (ii) Subordination of individual interest to general interest (iii) Esprit de corps • (i) Unity of direction Unity of direction states that all the units of an organisation should be moving towards the same objectives through • coordinated and focussed efforts. Each group of activities having the same objective must have one head and one plan. This ensures unity of action and coordination. • (ii) Subordination of individual interest to general interest: The interests of an organisation should take priority/supersede over the interests of any one • individual employee. This is so because larger interests of the stakeholders are more important than the interest of any one person. • (iii) Esprit de corps: Management should promote a team spirit, unity and harmony among employees otherwise objectives would • be difficult to realise. A manager should replace ‘I’ with ‘We’ in all his conversations with workers to foster team spirit. This will give rise to a spirit of mutual trust and belongingness among team members.

Explain the following points of significance of principles of
management :
(i)
Fulfilling social responsibility
(ii)
Meeting changing environment requirements
(iii)
Scientific decisions

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