Question : Which of the following best defines the principles of management?
Option 1: Guidelines for effective decision-making
Option 2: Rules for maintaining employee discipline
Option 3: Techniques for cost reduction in organizations
Option 4: Strategies for achieving organizational objectives
Correct Answer: Guidelines for effective decision-making
Solution : The correct answer is (a) Guidelines for effective decision-making
The principles of management refer to the fundamental concepts and guidelines that guide managers in their roles and responsibilities. Effective decision-making is a critical aspect of management principles as managers must make informed choices to achieve organizational goals and objectives. The principles of management provide frameworks, models, and approaches that help managers analyze situations, gather relevant information, evaluate alternatives, and make decisions that align with the organization's objectives.
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