Principles of mgt.(3) 2
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Principles of mgt.(3) 2

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Principles of mgt.(3) 2 Principles of mgt.(3) 2 Presentation Transcript

    • PRINCIPLES OF
    • MANAGEMENT
    • (HENRY FAYOL’S)
  • Definition:
    • Principle is a fundamental statement or truth providing a guide to the thought or action .
    • -G.R.Terry
  • Six categories of business activities
    • Financial - Search for and optimum use of capital.
    • Security - protection of property and persons
    • Commercial - Buying, Selling, Exchange
    • Technical - Production or Manufacturing
    • Managerial
    • Accounting - including statistics
  • 14 Principles of Management
    • Division of Work
    • Authority & Responsibility
    • Discipline
  • Contd..
    • Unity 0f Command
    • Unity of Direction
    • Subordination of Individual Interest to General Interest
  • Contd..
    • Remuneration of personnel
    • Centralization and decentralization
  • Contd..
    • Scalar Chain- Scalar chain is the chain of superiors ranging from the ultimate authority to the lowest level in the organization.
    • The gang plank allows two employees at the same level to communicate directly with each other. But each must inform his superior.
  • Contd..
    • Order - Concerned with the arrangement of things and placement of people.
    • Equity
  • Contd..
    • Stability of tenure of personnel.
    • Initiative
    • Esprit the corps
  • Importance of Management Principles
    • Aid to training
    • Improvement of research
    • Increase in efficiency
    • Aid to understanding the nature of management
    • Achievement of social goals