Step 1: Question Clarification.
The inquiry concerns factors impacting managerial actions and methods.
Step 2: Option Examination.
- Organisational Objectives: While crucial for organizational direction, they do not directly shape managerial conduct and operations.
- Principles of Management: These principles offer guidance and structures that shape managerial behavior and practices.
- Leadership Traits: Leadership traits affect leadership styles but are less comprehensive than management principles in influencing all managerial practices.
- Dimensions of business environment: These impact the broader business landscape but do not directly influence managerial conduct or operations.
Step 3: Resolution.
The definitive answer is Principles of Management, as they offer direct guidance on managerial practices.
Final Answer: \[\boxed{\text{The correct answer is (2) Principles of Management.}}\]