Principle: REMUNERATION OF PERSONALS

Every individual joins the organization with the main aim of earning his bread and butter. The wages or salary which he earns for his work helps him to fulfill the basic and other needs of life. The wages or salary must be in equality with the work done by him so that he gets satisfied and can perform better.

Read More

Principle: SUBORDINATION OF INDIVIDUAL INTEREST TO GENERAL INTEREST

This principle states that general interest is superior to the individual interest. And the manager must try to integrate the individual goal with the organizational goal in such a manner so that both the objectives are accomplished with efficiency and effectiveness. The manager directs the employees in such a manner that they work for their objective and ultimately the organizational objective is achieved.

Read More

Principle: UNITY OF DIRECTION

This principle states ‘One Head One Plan’. It means that all the employees having same objective must be directed towards the achievement of the common goal and thus must have one head and one plan. This principle makes it necessary that there should be unity of action.

There are different divisions in the organization for different activities and thus the efforts of the employees of one division having the common objective must be directed towards the achievement of these objectives, taking into account the threats, opportunities for that division.

Read More

Principle: UNITY OF COMMAND

Unity of Command means getting orders/ command from only one supervisor.

Fayol has stated “As soon as two superiors impose their authority over the same person or department, uneasiness makes itself felt. Dual command is a perpetual source of conflict.”

This principle states that an individual should get orders from a single superior so that he does not get confused and can discharge his duties effectively.

Read More

Principle: DISCIPLINE

Discipline means obedience, respect for authority, and observance of established rules.

Fayol has emphasized that a sense of discipline should be present in all employees of the organization at all level so that the organization can perform and achieve its objectives in the best possible way.

Read More

Principle: AUTHORITY AND RESPONSIBILITY

Authority is the power to give orders and get it obeyed or in other words it is the power to take decisions.

Responsibility means state of being accountable or answerable for any obligation, trust, debt or something or in other words it means obligation to complete a job assigned on time and in best way.

Authority and responsibility are closely related and this principle states that these two must go hand in hand. It means that proper authority should be delegated to meet the responsibilities.

Read More

Principle: DIVISION OF WORK

The principle of ‘Division of Work’ means to divide a given activity or work into small pieces or parts so that each part is handled with great ease and efficiency.

This principle states that every work should be divided into the smallest possible part and each such part is to be performed by an individual person (laborer). Instead of assigning the whole work to an individual, it’s better to assign one task to one person. Before assigning the task to anyone it must be assured that he posses the required knowledge, skill, capability and will to perform the task effectively and efficiently. If the same task is performed by a person again and again he gains specialization in that task and can perform with greater ease and minimizes wastage of resources and time.

Read More

FOURTEEN PRINCIPLES

A principle is defined as a fundamental truth which establishes a relationship between cause and its effect. These principles act as a guideline for our actions, as well as they specify what has to be done in a given perspective, situation and how to act in the best possible way with given limited resources in a specific condition.

‘Principles Of Management’ are given by Henry Fayol, popularly known as the ‘Father Of The Principles Of Management’ in the year 1916 in his book ‘General and Industrial Administration’. Initially the book was published in French and English translation of this book was published in 1929.

Read More

UNDERSTANDING MANAGEMENT PRINCIPLES

Principles of management are developed in such a form that they act as a pre-determined solution for the commonly accruing problems of business environment. They provide guidance to the managers for their effective discharge of duties. Thus each and every manager must understand them thoroughly.

The benefits of understanding and adopting these principles are many. Some of these are……

Read More

NATURE OF MANAGEMENT PRINCIPLES

1.       The management principles are general guidelines and not a definite set of principle which can be applied to get certain specific result as is the case with Science.  This principle acts as a guide for the manager’s in a given situation only and does not guarantee any absolute and predictable result.

2.       The management principles have universal applicability, which means that they can be used in business as well as non- business environment’s and issues, as well as at profit & non profit making units, these principles are helpful for all and can be applied and used by all in general. They can be used by anyone depending upon the availability of factors and nature of the issue.

Read More

HOW MANAGEMENT PRINCIPLES ARE DERIVED

At present the management is used and applied in a much developed and scientific form, it has been evolved, developed and adopted with the respective changes of the business environment.

When the principles of any discipline are derived, they are derived in a scientific manner so that they can give some predictable outcome when applied to a given problem. As management is not a pure science its principles cannot be derived totally by scientific method, they are also derived by observation method because management deals with human behavior which tends to change in different situation.

Read More

PRINCIPLES OF MANAGEMENT

ABOUT PRINCIPLES:

Every discipline is based on some hypothesis, theories and principles, and management is in no way different from this. A principle is defined as a fundamental truth which establishes a relationship between cause and its effect. These principles act as a guideline for our actions, as well as they specify what has to be done in a given perspective, situation and how to act in the best possible way with given limited resources in a specific condition.

Read More

LOWER LEVEL MANAGEMENT

This level is the last level of the organizational hierarchy. It represents the operational level and acts as a link between the management and the operational labours. They mainly perform the vital function of supervision and inspection of all activities in order to control them. They are responsible for maintaining better working condition at the workplace as well as for arrangement of the required resources, equipment's and other plans for better performance of the workmen.

POSITIONS: This level consists of Supervisors, Foremen, Inspectors and any other similar position held by any person by whatever name called.

Read More

MIDDLE MANAGEMENT

 This level consists of various departmental heads. At this level the organization is divided into different departments for different activities and each department is headed by a specific person known as the head. The departmental head is accountable for all the affairs of his department or section.

POSITIONS: At this level we have positions namely, Finance Manager, Marketing Manager, Production Manager, Personnel Manager, Advertising Manager, R & D Manager, or any other similar position held by any person by whatever name called.

Read More

TOP MANAGEMENT

This level is the top most of the organizational hierarchy and is very vital for any organization because it frames the policies and procedures to be followed to attain the pre determined objectives of the business. They plan and control the whole affairs of the organization.

POSITIONS: This level consists of the Board of Directors, General Manager, Managing Director, Secretary, or any other person holding similar position by whatever name assigned or called.

Read More

LEVELS OF MANAGEMENT

An organization is a group of people working together and performing different activities to fulfill their responsibilities and achieve the respective organizational goal. With the passage of time, the size of organizations has gone through tremendous changes and at present very large in sizes and structures. It is now difficult as well as complicated for an individual to hold, perform, and accomplish all the responsibilities and systematically managing the whole affairs. The responsibilities are now divided within the organization depending upon the capabilities of the employees. Thus, the ownership and the management have now been further divided for the smooth functioning as well as maintaining a competitive edge.

Read More

WHY TO MANAGE

Management is a life giving and dynamic factor which transforms the resources into products and viable services. It directs each and every activity necessary for the achievement of the organizational objectives and goals.

Management helps us to resolve many problems and perform in a better way. Thus it is an important element for success in any field. Its necessity or importance can be easily judged through the following major points.

Read More

HOW MANAGEMENT REACHED ITS PRESENT STAGE.

The concept of management evolved and developed over a long period of time. It is a product of continuous churning of different schools of thoughts by very many different academicians, thinkers and scholars. All have defined management from their perspective in different manner. Some of the prominent views are given below.

At the time of its inception, management was regarded as a psychological process i.e. we can say that during early days it was regarded as a one man job. During earlier period, sole proprietorship was very popular and the whole managerial responsibility remained with the proprietor. The way he managed his business, it was considered as the result of his business capability and skills. It was regarded as the inborn capability of a person. Thus, was considered as a Psychological Process.

Read More