The principles of management as in the case of other disciplines, have their impact on the practice of management. The nature of management principles include: universal applicability, dynamism, relative but not absolute limits due to human behavior and the like. A number of practitioners, thinkers and academicians of management have contributed to the formation and development of management principles, thought and approaches. The importance of organization and administration in the bureaucratic states of antiquity was manifest in the interpretations of early Egyptian papyri, extending as far back as 1300 B.C. the same jingo of records exists for ancient China. Practical suggestions for proper public administration and admonitions to choose honest, unselfish and capable public officers were included in Confucius parables. Even though the records of early Greece and Rome do not offer much insight into the principles of management, existence of Athenian commonwealth and the Roman Catholic Church indicates a consideration of management principles and functions. In military organizations too, principles of management have been considered. Although certain important principles have been applied in recent times, several others were considered long back in military organizations. Public administrators also considered several management principles for administering the people properly. The study of theories is more important as they guide management decisions; they shape our organization, make us aware of the business environment and are a source of new ideas. Now, we shall study these theories in order to know how the management thought is developed, principles of management are evolved and different approaches to management are designed. The first among the management theories is scientific management.