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Name the principle of the management under which it is believed that there is only one best way to maximise efficiency and it can be developed through scientific study and analysis.

Solution

Correct Option: 3

The principle 'Science, not Rule of Thumb' by Taylor states that there is only one best method to maximise efficiency which can be developed through scientific study, analysis, and investigation. This replaces traditional rule of thumb methods with scientifically tested approaches.

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