How will you evaluate the basic management principle in business life?

well as per my knoweledge every management principle is vital to a business, and if its to be evaluated then the one way is what your customers and employees are thinking about it. besides Professional Ethics is key for a better presentation about a business. just my opinion 

Honesty, inegrity, TCF (treating customer fairly) and transparency.

Ethical values to be adopted in all walks of life.