![]() They can be moulded by managers as per the need of the hour. Flexible - Management principles are not rigid in nature. They pertain to different working situations and can be modified by managers as per the situations and requirements. ![]() Experiment based - Management principles have been developed through years of research and experimentation that is why they are technical in nature. ![]() However, they do not provide straitjacket solutions to all problems. Act as guidelines - Management principles act as guidelines they are considered general premises for decision making. Universal - Universality of management principles implies that they can be applied to every firm, irrespective of its size, nature or location. The following points highlight the nature of the principle of management: They are the general premises that can be applied to different situations. They help managers in taking managerial decisions. Management principles are the basic truths that govern managerial behaviour. ![]()
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