State any four points which highlight the importance of Principles of Management.
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Explain any three points that highlight the importance of directing function of management.
Importance of Directing: Integrated group activity: The organisational goals can be achieved only when individual efforts are integrated. Directing integrates employee's efforts in such a way that every individual efforts contributes...
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State any five points that highlight the importance of 'controlling' function of management.
Importance of controlling: (i) Accomplishing Organisational Goals: The controlling process is implemented to take care of the plans. With the help of controlling, deviations are immediately detected and corrective action...
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State any four points which highlight the characteristics of Management.
Characteristics of Management: (a) Management is a goal-oriented process: An organisation has a set of basic goals which are the reason for its existence. These should be simple and clearly...
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Give any one reason why principles of management are called 'Contingent'. State why principles of management are called Contigent.
Principles of management are contingent as their application is dependent upon the prevailing situations at a particular point of time.
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Explain any four points that highlight the nature of principles of management.
Characteristics/Nature of Principles of Management: (i) Universal applicability: The principles of management are intended to apply to all types of organisations, business as well as non-business, small as well as...
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Explain any four points of importance of Principles of Management.
Importance of Principles of Management: i. Provide Useful Insight to Managers: The principles of management make the manager aware about the manner in which he should act in various situation so...
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Explain any four points which highlight the importance of principles of management.
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State any five points which highlight the importance of delegation of authority.
Delegation of authority refers to the downward transfer of authority from a superior to a subordinate. Its main elements are authority, responsibility and accountability. Importance of delegation- (i) Effective Management: By delegating routine...
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Explain any five points which highlight the importance of controlling function of management.
Importance of Controlling: (i) Accomplishing organisational goals. (ii) Making efficient use of resources. (iii) Ensuring order and discipline. (iv) Improving employee motivation. (v) Judging accuracy of standards. (vi) Facilitating co-ordination in action. Importance of Controlling: (i) Accomplishing organisational...
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Explain any four points that highlight the importance of financial planning.
Financial planning is important because: (a) It helps the company to prepare for the future. (b) It helps in avoiding business shocks and surprises. (c) It helps in co-ordinating various business...
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