INTRODUCTION

Management is everywhere. In every type of business organisation, non-business organization and even in social life; management is required. Management is the key to success in achievement of goal. Management is considered as one of the required sources of business organization like machines, materials and money. For establishing coordination between all other sources of organization, one needs to know about management.  Therefore, it is observed that the importance of management is growing rapidly. There are various principles, theories and techniques of management which give results in same direction. But its use is varying from organization to organization, situation to situation and person to person.  Management is often included as a factor of production. It harmonizes all functions of business organization such as planning, organizing, stating, coordinating and controlling, which are termed as functions of management.

MEANING

While achieving goal of an individual or an organization, it is always important to use different systems or techniques. Some of these techniques are accepted universally, hence, they are called as principles. It provides quideline to manager to conduct all organizational activities on specific bases. It helps the manager to take effective decisions and to achieve organizational goal.

In simple words, techniques or systems which give one directional result are called as principles. These principles are universal and applicable everywhere. Due to the basis of principles, managers need not to work on trial and error basis. For Example, in cricket or in any other game, total play is designed and divided between the players according to their qualities and capabilities. In terms of management, it is called as division of work which is one of the principles of management. 

DEFINITION

"Principle is defined as a fundamental truth or proposition that serves as the foundation for a

system of belief or behaviour or for a chain of reasoning."

Management principles are formed to guide and influence the behavior of employees. These principles insist on improving efficiency of organizational resources in terms of profit. These principles also focus on best coordination between superior, subordinates and all the members of organization.

THE NATURE OF MANAGEMENT PRINCIPLES IS GIVEN BELOW:

1. Universal application

2. General  guidelines

3. Principles are formed by practice and experiments

4. Flexibility

5. Behavioral in nature

6. Cause and effect relationship

7. All principles are of equal importance 

NATURE OF PRINCIPLES OF MANANGEMENT

Universal application

The principles of management are universal in nature. That means they can be applied to all types of organizations, irrespective of their size and nature. Their results may vary and application may be modified but these are suitable for all kinds of organizations. Similarly, they are applicable to all levels of management.

 General  guidelines

Management principles provide general guidelines in tackling the organizational situations wisely as well as in solving the problems. They are not rigid. Which management principles are to be applied depends upon the situation, size and nature of organisation. For example, when we say fair remuneration, then the term 'fair' can vary as per the nature, size and financial condition of the organisation.

Principles are formed by practice and experiments

The management principles are developed gradually with thorough research work. Systematic observations and experiments are conducted before developing them. The results of such experiments have been developed as a principle after its practice in organizations.