State three reasons as to why study of management principles is necessary

CBSE Class 12 CBSE Class 12 Business Studies
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1

State three reasons as to why study of management principles is necessary.
or
State some of the significance of management principles.
or
The principles of management are established on cause and effect relationship. This helps to analyse and predict the probable result of applying a particular principle in a given situation. How does it prove to be helpful to business organisations.

2

Study of management principles is necessary due to the following reasons:
(i) They provide useful-insights to managers.
(ii) Principles help managers to secure optimum utilization of resources.
(iii) It helps in taking scientific decisions.
(iv) Management principles help in fulfilling social responsibilities.