Category: Class 12 Business Studies

Principle refers to a set of statements which shows the fundamental truths related to some relationship based on the Cause and Effect relationship. Therefore, Principle of Management is a fundamental statement which serves as a guide for making the decision and behavior of the manager through his actions and excuses.

Management is a process which directs actions of others towards common goals under the process of planning, organising, staffing, directing, controlling wherein organisation operates in order to achieve targets effectively and efficiently.