Explain any four points which highlight the importance of principles 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...

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...

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...

Principles of management are contingent as their application is dependent upon the prevailing situations at a particular point of time.

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...

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...

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...

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...