Step 1: Recall what management principles are.
Management principles are broad, general guidelines for managerial decision-making and behavior. Their significance lies in providing a structured framework for managers to operate effectively.
Step 2: State Significance 1 - Providing Useful Insights into Reality.
Principles add to the knowledge, ability, and understanding of a manager. By studying principles, managers learn from earlier mistakes of others and avoid repeating them, thereby improving their professional judgment in complex situations.
Step 3: State Significance 2 - Optimum Utilisation of Resources.
Principles enable managers to foresee the cause-and-effect relationship of their decisions. This ability helps avoid the wasteful trial-and-error approach and ensures that both human and physical resources are deployed most effectively, leading to better administration.
Step 4: State Significance 3 - Scientific Decisions.
When managerial decisions are guided by well-established principles, they become objective and free from personal bias or blind faith. Such decisions are based on logical reasoning and the careful analysis of facts, making them more reliable and defensible.
Step 5: Understand why significance matters.
Together, these points show that principles transform management from an art of personal judgment into a more organized, knowledge-based discipline, helping organizations achieve their goals more consistently.
Step 6: Conclude.
The three points of significance of management principles are: providing useful insights, ensuring optimum utilisation of resources, and facilitating scientific decisions.
\[ \boxed{ \text{Significance: Useful insights, Optimum resource use, Scientific decision-making} } \]