If you are continuously looking for Principles of management class 12 notes, then you reached the right article. Here, you will find chapter-wise principle of management notes as per the latest guidelines and prescribed syllabus.
Management-CBSE Guide Principles of Management class 12
Management is the process of designing in maintaining an environment in which individuals working together in groups efficiently and effectively accomplished selected goals. It would be very difficult to manage the resources of an organization without a set of guidelines which govern the organization and its members.
Each and every organization has its prospectus and is governed by a certain bunch of business conducting principles. Management principles have evolved over time as per the organizational needs.
The principles of management serve as broad and general guidelines for managerial action and decision making. They are framed up by means of analysis based on observations and practice. Principles of management are general propositions. The origin of these principles may be a matter of science but their formulation is a result of creative application of art too.
These principles provide credibility of a learnable and teachable discipline to the practice of management.
Nature of principles of management
The nature of principles of management can be summarized in the following:
Universal Applicability under Principles of management class 12
The principles of management are pervasive and intended to apply to all types of organizations, business, different sectors etc. The extent of applicability may vary through the organizations but they are applicable and in use universally.
General guidelines under Principles of management class 12
These are not to provide ready made jacket solution to the problems of management rather are prescribed in general and can be modified and used as a solution. The real business problems are very complex and dynamic and demand the solution which caters right to the problem.
Formed by practice and experimentation
The management principles are formed by experience and observation. These are formulated based on observation and experimentation.
Flexible under Principles of management Class 12
The principles of management are not rigid prescriptions. The manager has enough discretion of modifying the principle and applying to achieve business goals and objectives.
Behavioral under Principles of management Class 12
The principles of management aim at influencing behavior of human beings. These principles enable a better understanding of the relationship between human and material resources in accomplishing organizational purposes.
Cause and effect relationship
These principle can be used as guidelines as their exists cause and effect relationship. The situation in real life is not identical each time so accurate cause and effect relationships may be difficult to establish. But it provides a way to clear out the problem and make effective use of principles.
Contingent
The principle are dependent upon the prevailing situation at a particular point of time. They should be applied to that extent only which benefits the organization and its members.
Significance of the Principles of Management
Having described the nature it would be easy to frame significance of these principles of management which act as a brochure for managers at all levels.
The significance of principles of management cannot be overlooked, instead can be witnessed in healthy work environment of the organization.
Providing managers with useful insights under Principles of management class 12
The principles of management provide with useful insights into the real world situations. It also enables managers to learn from the past mistakes and conserve time by solving recurring problems in a lesser time. This will add to their knowledge and benefit organization as a whole by improving managerial efficiency.
Optimum utilization and effective administration
There pertains scarcity of resources whether we talk about economy as a whole or an individual household or organization. The principles equip managers to foresee the cause and effect relationship and keep ready the solution as soon as the problem arises. This on one hand limits the discretion of managerial decisions to get affected by personal biasness and on the other hand ensures minimum wastage of resources whether material or human.
Scientific decisions under Principles of management Class 12
The decisions should be scientific as in justifiable and viable for the said purpose. They must be timely, realistic, simple and flexible . They emphasize on logic rather than belief and are subject to objective assessment.
Meeting changing requirements
A business to flourish is required to revise it’s terms and policies with changing environment. It is also essential to recognize competitors and survive the competition successfully. The principles of management enable the managers to face this challenge as they are flexible and can be modified as per the needs.
Fulfilling social responsibility under Principles of management Class 12
The principles of management are behavioral and are related to human nature. The on time accomplishment of goals makes relations between mangers and employees stronger and smoother.
Management Training, Education and Research
The principles are providing education to employees to make use of their theoretical interpretation. This has helped the managerial knowledge to be more concrete.
The managers become motivated to do research so as to improve consumer satisfaction.
Henri Fayol and Fredrick Winslow Taylor worked on developing the base of principles of management. Henri Fayol gave 14 principles and Taylor propounded some principles and some scientific techniques to ensure better managerial control.
Efficient and well managed administration in an organization is the key to success.
Important Principles of Management Class 12 Notes Chapter 2
If you are searching for what are the principles of management, Commerce Aspirant covers all the crucial concepts in a lucid and straightforward manner to help the students master these concepts. Principles Of Management are discussed thoroughly in these notes.
These notes are prepared by deep studying of every topic. It provides you with the detailed information of Nature Of Principle Of Management. This topic is discussed using headings which help you to answer it in a fascinating manner.
Revision Notes of Importance & Features Of Principle Of Management Class 12
Here, you will get to know the Importance Of Principles Of Management in a simpler and easier way that helps you to remember them easily during exams.
Conclusion
It is another significant topic of chapter 2 of Business Studies. Features Of Principle Of Management are given in the form of points in notes for in-depth understanding of the concept.
Chapter 2 – Principles of Management
- Concept of Principles of Management
- Taylor’s Scientific Management
- Fayol’s Principles of Management