UP Board 2019
Here are some important solved questions for the topic Principle of Management from Business Studies.
These questions are based on previous exam papers and specially prepared for the students to boost their marks in the subject.
Practice the following question to make the concepts clear.
Q1. What do you mean by Principles of management?
Ans. Principles of management are broad and general guidelines for managerial decision-making and behaviour. Management principles are not as rigid as principles of science as this deal with human behaviour and thus are to be applied creatively given the demands of the situation.
Q2. Describe the Nature of Principles of Management?
Ans. The nature of principles of management are as follows:
i) Universal applicability: Principles of management is applicable in all types of organizations, business as well as non-business, small as well as large enterprises depending on the nature of the organization.
ii) General Guidelines: They are general guidelines to action but do not provide straight solution to all managerial problems, as the business situations are complex and dynamic.
iii) Formed by practice and experimentation: They are formed from the knowledge, experiences, and experiments of the managers.
iv) Flexible: These principles are not rigid and can be adapted and modified by the practising managers depending upon the situation.
v) Mainly Behavioral: Since the principles aim at influencing complex human behaviour they are behavioural in nature.
vi) Cause and Effect relationship: They are intended to establish relationship between cause & effect so that they can be used in various situations.
vii) Contingent: Their applicability depends upon the prevailing situation at a particular point in time. The application has to be changed as per the situation.
Q3. What is the significance of the principals of management?
Ans. The significance of principal of management are:
i). Providing managers with useful insights into reality: Principles of management guide managers with useful insights into real-world situations, adherence to these principles will improve their knowledge, ability, and understanding of various managerial situations and circumstances.
ii). Optimum utilization of resources and effective administration: The resources with the company are limited. Management principles equip the managers to see the cause and effect of their decisions and actions and thus reduce wastage. Optimum utilization of resources means maximum benefit with minimum cost.
iii). Scientific decisions:: Decisions must be based on facts, thoughtful and justifiable in terms of intended purpose. Management principles must be timely, realistic and subject to measurement and evaluation. Principles are free from bias and prejudice.
iv). Meeting the changing environmental requirements: Management principles are effective and dynamic and thus help the organization to meet the changing requirements of the environment.
v). Fulfilling social responsibility: Due to the increased awareness of the public forces, all companies are required to fulfil social responsibilities. Principles of management not only help in achieving organizational goals but also guide managers in performing social responsibilities.
vi). Management training, education, and research: Management principles are the core of management and are helpful in increasing knowledge, which forms the basis for management training and research.
Q4. Define Taylor’s Scientific Management and write its Principles.
Ans. Taylor’s Scientific Management implies to conducting of business activities according to standardized tools, methods, and trained personnel in order to increase output improve its quality and reduce costs and wastes through effective and optimum utilization of resources.
Principles of Taylor’s Scientific Management:
(i) Science, not rule of Thumb.
(ii) Harmony, Not discord.
(iii) Cooperation, not individualism.
(iv) Development of each and every person to his or her greatest Efficiency and Prosperity.
Q5. Write down the definition of Fayol’s Principles of Management. Write down the principles given by the Fayol?
Ans. According to Henri Fayol’s specialization promotes efficiency of the workforce and increases productivity. In addition, the specialization of the workforce increases their accuracy and speed.
The Fayol’s 14 Principles of Management are as follows:
i) Division of work.
ii). Authority and Responsibility.
iii) Discipline.
iv) Unity of Command.
v) Unity of Direction.
vi) Subordination of Individual Interest to general interest.
vii) Remuneration of Employees.
viii) Centralization and Decentralization.
ix) Scalar Chain.
x) Order.
xi) Equity.
xii) Stability of Personnel.
xiii) Initiative.
xiv) Espirit De Corps.
Try it yourself:
Q6. Find out the difference between the Principles of Management given by Henry Fayol and F.W Taylor.
