importance

Need and importance of Management Principles

· Increase in Efficiency
The principles of management provide guidelines as to how managers should work in different situations. These principles help to improve managerial efficiency.These principles enable managers to solve problems systematically with the guidelines.

· Highlight the nature of Management
Management principles enable the managers to understand the nature and scope of his job. They provide the framework within which managers have to work to achieve organizational goals and also fulfill personal goals.They also serves as criteria to judge the appropriateness of managerial decisions and actions.

· Aid to Training
In order to develop managerial talent, management should be taught in institutes and universities. Management principles provide a conceptual framework for systematic training and development of future managers. They suggest the areas in which training should be given.By this universities and professional institutions are able to impart knowledge and training in the theory and practice of management.

· Improvement of Research
Management principles cannot be as precise as principles of natural sciences. When any principle is developed that becomes the basis for future research. In the absence of principles research becomes difficult and knowledge cannot be explained.Principles of management indicate the areas for research to develop new guidelines and ascertain the validity of existing guidelines.

· Achievement of Social Goals
The living standard of people depends upon the quality of management.If management is efficient the resources of society are better utilized and quality of life is improved.Development of management principles helps in promotion of efficiency in the use of resources of a nation to improve the quality of its people.