1. It effects the GDP of the country. It effects the industrial growth and production of the country.

2. Effects the export and imports of the country.

3. Overall it effects the balance sheet of the country. It effects the living standards of the people.

4. Balance trade also effects.

1-Makes the organisation goal oriented.

2. Creates a motivated workforce.

3. Ensures conformity and facilitates Controlling and Coordination.

4. Initiates action.

5. It create adaptability.

6. Ensure employ discipline.

Improves Understanding: 1. Direction for Training of Managers. 2. Role of Management. 3. Guide to Research in Management. 4. Improves Understanding: From the knowledge of principles, managers gets an indication of how to manage an organization. The principles enable managers to decide what should be done to accomplish given tasks and to handle situations which may arise in management. These principles make managers more efficient. Direction for Training of Managers - Principles of management provides an understanding of management process what managers would do to accomplish what. Thus, these are helpful in identifying the areas of management in which existing & future managers should be trained. 5. Role of Management: Management principles makes the role of managers concrete. Therefore these principles act as a ready reference to the managers to check whether their decisions are appropriate. Besides these principles define managerial activities in practical terms. They tell what a manager is expected to do in the specific situation. 6. Guide to Research in Management: The body of management principles indicate lines along which research should be undertaken to make management practical and more effective. The principles guide managers in decision making and action. The researchers can examine whether the guidelines are useful or not.