Explain nature of principles of management.

Answer: Principles of management are broad guidelines for decision-making and action. Their nature is:

1. Universal application: They apply to all types of organisations, business and non-business, small and large.
2. General guidelines: They are guidelines, not rigid rules; they must be applied with judgment according to the situation.
3. Flexible: They can be modified to suit the changing needs and conditions of the organisation.
4. Formed by practice and experiment: They are developed through the experience, observation and experiments of managers.
5. Cause and effect relationship: They show the relationship between cause and effect, e.g. fair remuneration leads to satisfied employees.
6. Contingent: Their application depends on the prevailing circumstances.
7. Mainly behavioural: They aim to influence human behaviour, as management deals with people.