MGMT 1053 Lecture Notes - Lecture 5: Infosys, Prevailing Wage, Peon
Document Summary
The concept a managerial principle is a broad and general guideline for decisionmaking and behaviour. For example while deciding about promotion of an employee one manager may consider seniority, whereas the other may follow the principle of merit. One may distinguish principles of management from those of pure science. Management principles are not as rigid as principles of pure science. They deal with human behaviour and, thus, are to be applied creatively given the demands of the situation. Human behaviour is never static and so also technology, which affects business. Hence all the principles have to keep pace with these changes. For example, in the absence of information and. Communications technology (ict), a manager could oversee only a small work force that too within a narrow geographical space. The advent of ict has expanded the capability of the managers to preside over large business empires spread across the globe.
