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What is the place of experience in the nature of management principles?

Answer and explanation

Correct answer: Experience is an important basis for formulating principles

Management principles are developed through managers’ practical experience, observation and experimentation. Therefore, experience is an important basis for formulating principles. Option B is incorrect because experience helps establish the usefulness of many managerial guidelines; however, principles are based on wider study, not merely on an individual’s experience. Exam tip: Remember that management principles are experience-based general guidelines, not rigid rules.

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Management PrinciplesManagement ExperienceNature Of PrinciplesFayol PrinciplesBusiness Studies Class 12Nature Of Management PrinciplesPrinciples Of ManagementBusiness Studies

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