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Principles of management


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Principles of management

  1. 1. Management functions, principles & tools Dr. Rajiv Sikroria
  2. 2. PRINCIPLES OF MANAGEMENT A principles may be defined as fundamentals statement of basic truth that provides a guide to thought and action Principles of management originate and grow as a result of past experience and accomplishments NEED OF PRINCIPLES OF MANAGEMENT To improve efficiency To crystalline the nature of management To improve research To attain social goals
  3. 3. Industrial Activities Six groups Technical activities production manufacturing adaption Commercial activities buying selling exchange Financial search for optimum use of capital Security protection of property and personnel Accounting balance sheet costs statistics Managerial activities planning organizing command coordination and control
  4. 4. HENRI FAYOL (1841 -1925) A French mining engineer developed 14 principles of management based on his management experience. He pioneer in the field of management education He has been rightly called as father of management process school. He was first person who laid emphasis on the process of management
  5. 5. The Principles1. Division of work There is an efficient result in the operational level when tasks are distributed to qualified and competent workers or when people do specialize2. Authority With formal authority managers have the right to command and give orders to their subordinates3. Discipline Members in any organization have to respect the rules and agreements governing it Respect and obedience to rules is embodied in the conduct of good life and discipline
  6. 6. Principles of management4. Unity of Command Employees must receive instruction only from one person Reporting to more than one manager results to conflicts in instruction and confusion of authority.5. Unity of Direction Operations within any organization having the same objective must be directed by only one manager using one plan In a department for example there should not be two or more supervisors each having different policy to follow
  7. 7. Principles of management6 . Subordination of the Individual Interest to General interest Individual interest must be subordinate to general interest when there is conflict between the two The agreement between the employers and the employees should be fair and there should be constant vigilance and supervision.7. Remuneration Compensation for work done should be fair to both employees and employers
  8. 8. Principles of management8. Centralization & Decentralization We have this approach by decreasing the role of subordinates in decision making Managers should retain their final responsibility while at the same time give their subordinates enough authority to do their jobs properly.
  9. 9. Principles of management9. Scalar chain The line of authority in any organization turns in the order of rank from top management to the lowest level of the enterprise.10. Order Either material or human resources should be in the right place at the right time. People should be in the jobs or positions they are suited to.
  10. 10. Principles of management11. Equity : Equity is combination of justice and kindnessEquity in treatment and behaviour is liked by everyone and itbrings loyalty in the organization. This brings cordial relationbetween the management and labour
  11. 11. Principles of management12. Stability of Staff Employees work better if job security and career progress are assured to them . A high employee turnover rate will effect the organization.13. Initiative Managers should encourage their employees for taking initiative with in limits of authority and discipline Initiative increases the zeal and energy on the part of human beings Fayols describes initiative as one of the foremost activity. Satisfactions for an intelligent man to experience.
  12. 12. Principles of management14. Esprit de Corps: Teamwork is fundamentally important to an organization Work teams and extensive face to face verbal communication encourages team work.