Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Principles of mgt.(3)

1,656 views

Published on

  • Be the first to comment

Principles of mgt.(3)

  1. 1. <ul><li>PRINCIPLES OF </li></ul><ul><li>MANAGEMENT </li></ul><ul><li>(HENRY FAYOL’S) </li></ul>
  2. 2. Definition: <ul><li>Principle is a fundamental statement or truth providing a guide to the thought or action . </li></ul><ul><li>-G.R.Terry </li></ul>
  3. 3. Six categories of business activities <ul><li>Financial - Search for and optimum use of capital. </li></ul><ul><li>Security - protection of property and persons </li></ul><ul><li>Commercial - Buying, Selling, Exchange </li></ul><ul><li>Technical - Production or Manufacturing </li></ul><ul><li>Managerial </li></ul><ul><li>Accounting - including statistics </li></ul>
  4. 4. 14 Principles of Management <ul><li>Division of Work </li></ul><ul><li>Authority & Responsibility </li></ul><ul><li>Discipline </li></ul>
  5. 5. Contd.. <ul><li>Unity 0f Command </li></ul><ul><li>Unity of Direction </li></ul><ul><li>Subordination of Individual Interest to General Interest </li></ul>
  6. 6. Contd.. <ul><li>Remuneration of personnel </li></ul><ul><li>Centralization and decentralization </li></ul>
  7. 7. Contd.. <ul><li>Scalar Chain- Scalar chain is the chain of superiors ranging from the ultimate authority to the lowest level in the organization. </li></ul><ul><li>The gang plank allows two employees at the same level to communicate directly with each other. But each must inform his superior. </li></ul>
  8. 8. Contd.. <ul><li>Order - Concerned with the arrangement of things and placement of people. </li></ul><ul><li>Equity </li></ul>
  9. 9. Contd.. <ul><li>Stability of tenure of personnel. </li></ul><ul><li>Initiative </li></ul><ul><li>Esprit the corps </li></ul>
  10. 10. Importance of Management Principles <ul><li>Aid to training </li></ul><ul><li>Improvement of research </li></ul><ul><li>Increase in efficiency </li></ul><ul><li>Aid to understanding the nature of management </li></ul><ul><li>Achievement of social goals </li></ul>

×