THIS STATEMENT IS FALSE.
REASONS: Management principles are universally applicable. They can be applied everywhere and all situations of business. Not only that, they are applicable to all types of business organizations, irrespective of size of business, nature of business, etc. similarly they are applicable to all level of management. But however, Management principles are flexible in nature. It means they can be changed or modified according to the situation. Managers can bend these principles to suit the requirement.
