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 to decision-making by providing managers with fundamental concepts and guidelines. These principles serve as a framework that managers can use to analyze situations, gather relevant information, evaluate alternatives, and make informed decisions. They help ensure consistency and effectiveness in decision-making processes across different managerial roles and organizational contexts.
