Explain : (i) ‘General Guidelines’ as a feature of principles of management, (ii) Providing …………..

Question :Explain : (i) ‘General Guidelines’ as a feature of principles of management, (ii) Providing managers with useful insights into reality and fulfilling social responsibilities as significance of principles of management.

The correct answer is -(i) ‘General Guidelines’ as a feature of principles of management: General guidelines are one of the key features of principles of management. These guidelines provide broad and general recommendations that can be applied to a wide range of situations. They are not specific rules or procedures but rather general principles that guide decision-making and actions.

General guidelines can be useful in situations where specific rules or procedures may not be applicable or may not exist. They provide managers with a framework for decision-making and help to ensure that decisions are consistent with the organization’s overall goals and values. General guidelines can also help to encourage creativity and innovation, as they provide a starting point for managers to develop their own unique solutions to problems.

(ii) Providing managers with useful insights into reality and fulfilling social responsibilities as the significance of principles of management: The significance of principles of management lies in their ability to provide managers with useful insights into reality and help them fulfill their social responsibilities.

Principles of management help managers to understand the complex and dynamic nature of the business environment. They provide a framework for analyzing and evaluating different situations and help managers to make informed decisions. By following principles of management, managers can ensure that their decisions are based on sound reasoning and analysis, rather than personal biases or assumptions.

In addition, principles of management also help managers to fulfill their social responsibilities. They provide a set of ethical and moral guidelines that can help managers to make decisions that are in the best interests of all stakeholders, including employees, customers, shareholders, and the wider community. By following principles of management, managers can help to create a sustainable and socially responsible business that benefits everyone.