State the need for theory of management.Ripunjay Tiwari
Ans. Need of theory of management can be understood from the following points-
(i) When management theory, principles and techniques can be developed, proved and used, managerial efficiency will inevitably improve. As a consequence, the conscientious manager can become more effective by using established guidelines to help solve problems, without involving in original laborious research or the risky practice of trail and error.
(ii) Lack of understanding of the theory and principles of management makes it difficult to analyses the managerial job and to train managers.
(iii) Development of management theory would unquestionably have a revolutionary impact on the cultural level of society.