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.

Principles of Management are not absolute, rigid and stagnant like the principle of any other discipline but are very flexible because they deal with the human behavior which is very dynamic. These principles act as the basis for decision making to the managers and are modified according to the changes in business environment.

‘Principles Of Management’ has been evolved as a result of difficulties faced by earlier managers. Earlier managers used to take actions as per their own thinking capability and suitability, which sometimes did not produce the expected results. But now with basic principles they are able to adopt and implement as per the given situation.

‘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.

These principles, fourteen in number are developed for the basic assistance of the managers and also to guide them in overall aspects of management. The managers use them depending on the situation, their capability, knowledge and skill.