NCERT Solutions for Class 12 Business Studies Chapter 2 Principles Of Management

Formally defined, the principles of management are the activities that “plan, organize, and control the operations of the essential elements of [people], materials, machines, methods, money and markets, providing direction and coordination, and giving leadership to human efforts to achieve the sought objectives of the enterprise. The organizational principle is the excellent and overall direction for determining the performance. For instance, while ascertaining about the promotion of an employee, a manager may contemplate seniority, whereas the other may follow the principle of quality.

One may define principles of management from those of pure science. Management principles are not as firm as postulates of pure science. They deal with human traits and, hence, are to be employed creatively given the requirements of the position. Human behaviour is never inactive and so also technology, which business.