Principles of Management

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• Questions
• Summary

The significance of principles of management are as follows:

1.  They provide the managers with useful insights into reality.
2.  They help in optimum utilisation of resources and effective administration.
3.  They help to take scientific decisions.
4.  They help in meeting changing environmental requirements.
5.  They help in fulfilling social responsibility.
6.  They are used as a basis for management training, education and research.