Management principles are helpful in optimum utilization of resources.

Answer: The statement is correct.

1. Management principles are general guidelines for managers to take decisions and actions in an organisation.
2. Resources such as men, money, materials and machines are limited, so they must be used in the best possible way.
3. Principles like division of work bring specialisation, which increases efficiency and reduces wastage of time and effort.
4. Order (a right place for everything and everyone) and unity of direction avoid duplication of work and wastage of materials.
5. Scientific management principles such as standardisation, time and motion study help in eliminating unnecessary movements and wastage.
6. Thus, by following management principles, maximum output is obtained at minimum cost.

Hence, management principles are helpful in optimum utilisation of resources.