MEANING

A principle refers to a statement which reflects the fundamental truth about some phenomenon based on cause and effect relationship.

Management principles are the statements of fundamental truth which act as guidelines for taking managerial actions and decisions.

Management Principles vs. Pure Science Principles

1.Management Principles are very flexible whereas pure science principles are rigid.

2.      Management Principles are applied with creativity as these principles influence the behavior of human being whereas scientific principles are applied in absolute in static manner.

3.      Management principles have to keep pace with the changing requirement of business environment whereas scientific principles do not change with time.

Management Principles vs. Management Techniques

1.      Management Principles are guidelines for managerial actions whereas management techniques are methods and procedures which involve series of steps to be performed to accomplish the goal.

2.      Management Principles are flexible as compared to techniques.

Management Principles vs. Values

1.      Management Principles are guidelines for managerial actions whereas management values are rules for behavior of individual in society.

2.      Management Principles are technical in nature whereas values are ethical in nature.

3.      Management Principles insist on fulfilling of values and ethics of society.

Derivation of Management Principles

Management principles are not developed overnight but a complete procedure to develop these principles is undertaken. The management principles are derived and developed in following two steps:

1.      Deep observations. The researchers observe deeply while employees are working and note down the reactions of employees on various managerial decisions.

2.               Repeated experiments. The decision or statement which is repeatedly observed is being tested in different organizations with different sets of employees and if they get the result in same direction in all organizations, then the statement is given the name of a principle and principle is derived.

For example, if it is observed that efficiency level of employees is in- creased by dividing the work according to their capabilities, then it is tested in different organizations and if the accepted as a principle.