Importance of principles of management :
(i) Providing manager with useful insight into reality : Management principles help in increasing managerial efficiency by adding to their knowledge and ability to understand the various situations.
(ii) Optimum utilisation of resources : Management principles aims at optimum utilisation of all types of resources for the achievement of organisational goals.
(iii) Areas of training : Principles of management aim at determining present and prospective areas of change and development in an organisation. Accordingly, it enables relevant training among managers and workers that keeps up to changing times to facilitate possible growth and opportunities in the future.
(iv) Scientific decision : Management decision should be based on reason and proof rather than beliefs and intuitions. As the principle of management were developed from experiments on real life problems, they stand the test of logic and reasoning.
(v) Fulfilling social responsibilities : It is not only act as guidelines for accomplishing organisational goals but also guides managers in fulfilling social responsibilities.