The importance of management principles

Professional services firms or businesses use management principles to maximize profitability. The importance of management principles include; improves understanding, direction for training of manager, role of management and guide to research in management (MSG Management Study Guide., 2015). In this paper we will discuss the difference between; human resources management principles compared to operations management principles and project management principles compared to operations management principles. Each of these management principles include different criteria, but play a vital role in running a successful business. I will also cover the importance of establishing a code of ethics for a profitable professional service organizations. Human resources management (HRM) and operations management (OM) have been thought as very separate fields. The shift in the U.S. economy toward the service sector and away from manufacturing services tend to be more people-intensive than capital-intensive, human resources are becoming a more important competitive factor for service companies (Russell