Question : The principles of management provide:
Option 1: A standardized approach to decision-making
Option 2: Flexibility in decision-making
Option 3: Ethical guidelines for organizations
Option 4: Industry-specific strategies
Correct Answer: A standardized approach to decision-making
Solution : The correct answer is (a) A standardized approach to decision-making.
The principles of management offer a standardized approach or framework for making decisions within an organization. They provide managers with guidelines, concepts, and techniques that can be applied to various decision-making situations. These principles help managers make informed and consistent decisions based on established best practices and proven methods. The principles provide a foundation for decision-making processes and help ensure that decisions align with organizational goals, objectives, and values.
