Business Studies- Principles of Management

According to this principle of scientific management, "Scientific management has for its foundation the firm conviction that true interest of the management and workers are one and the same; the prosperity for the employer cannot exist for a long time unless it is accompanied by prosperity for the employees and vice versa."

'Rule of thumb' refers to

According to Taylor, "even a small production activity like loading figures of iron into boxes can be scientifically planned and managed. This can result in tremendous savings of human energy as well as wastage of time and materials." Identify the related principle of scientific management.

Principles of management emphasize on logical and rational decision making rather than on the basis of bias and prejudice. The given statement highlights that the knowledge of principles of management leads to

The application of the principles of management has to be changed as per the requirements of the prevailing situation at a particular point of time. Which feature of the principles of management is being described in the given statement?

Principles of management can be modified by the manager when the situation demands. This statement implies that the principles of management are

The principles of management enhance the understanding of relationship between human and material resources for the achievement of organisational goals. Identify the feature of the principles of management being described in the given statement.

The principles of management do not provide readymade straight jacket solutions to all management problems because

The principles of management are intended to be applied to all types and sizes of organisations. This statement reflects that the principles of management are

The principles of management have been developed on the basis of