Principles of management|Meaning|Definition.

Meaning of Management principles. 

Management principles are statements of fundamental truth. These principles serve as guidelines for decisions and actions of managers.

Management principles are derived through observation and analysis of events which managers have to face in actual practice. 

For example.

The principle of unity of command was derived when managers observed that keeping an employee under more then one boss resulted in confusion and divided loyalty. Experiments are also conducted to derive these principles. 

Definitions.

The principles are defined by different experts. Some of these definitions are

1. According to - Koontz' and O' Donell

"Management principles are fundamental truth of general validity which have value in predicting the result of management action."

2. In the word of Henry Fayol " Principles of Management are flexible and not absolute but must utilized in the light of changing and special conditions."

3. "Management Principles are fundamental statements of truth which provide guidelines for management in decision-making and action. They are derived and developed by management experts out of experience and analysis and have general applicability."

-MCT.

Management refers to regulating human efforts for achieving pre determined goals. Whereas principles refer to rules, concepts and conventions followed to achieve those goals. Hence, principles of management refer to those rules, which are adopted by a manager to accomplish goals through the management process. These are guidelines for a manager. These can be adopted in an enterprise and expected results can be achieved. 

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