Question : Which of the following statements 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 provide guidelines or fundamental concepts that guide managers in making effective decisions and leading organizations. These principles are general guidelines that are applicable across different industries and organizational settings. They encompass various aspects of management, including planning, organizing, staffing, directing, and controlling. The principles of management serve as a foundation for managerial practices and help managers make informed decisions and achieve organizational goals.
