This document outlines key concepts in management principles as defined by various experts. It discusses definitions of management, the nature and scope of management, management functions including planning, organizing, staffing, directing and controlling. It also covers the importance of management and principles of management according to experts like Fayol and Taylor. Additionally, it discusses levels of management, classification of decisions, steps in decision making, and techniques for decision making.

1. PRINCIPLES
OF
MANAGEMRNT
By-SANJIV KUMAR YADAV
15/1/2010 1

2. DEFINITION
OF
MANAGEMENT
“…..Management is simply the process of
decision-making and control over the action
of human being for the express purpose of
attaining pre-determined goals.”
15/1/2010 2

3. NATURE OF MANAGEMENT
1. Essential Ingredient of all organized work.
2. Management is distinct process.
3. It is an integrating force.
4. It aims at achieving pre-determined objectives.
5. It is universal in character.
6. It is intangible.
7. It utilizes interdisciplinary.
15/1/2010 3

4. SCOPE OF MANAGEMENT
1. Functional process
2. Functional areas
3. Study and understanding of various subject
4. Principles are universal.
15/1/2010 4

5. FUNCTION OF MANAGEMENT
1. Planning
2. Organizing
3. Staffing
4. Directing
5. Controlling
15/1/2010 5

6. IMPORTANCE OF MANAGEMENT
1. To increase operating efficiency
2. To crystallize the nature of management
3. To improve research
4. To attain social objective
15/1/2010 6

7. PRINCIPLES OF MANAGEMENT
BY-HENARI FAYOL(1841-1925)
1. Division of work
2. Authority and Responsibility
3. Discipline
4. Unity of Command
5. Unity of Direction
6. Subordination of individual
7. Remuneration of Personal
8. Centralization
15/1/2010 7

8. 9. Scalar chain
10. Order
11. Equity
12. Stability of Tenure of Personal
13. Initiative
14. Esprit de Crops
15/1/2010 8

9. PRNCIPLES OF MANAGEMENT
BY-F.W.TAYLOR(1856-….)
1. Mental Revaluation
2. Work Study
a. Method Study
b. Time Study
c. Motion Study
3. Standardization of Tools and Equipment
4. Scientific Selection and Training
5. Differential Piece Rate System
15/1/2010 9

10. LEVELS OF MANAGEMENT
1. Top
a. Directing
b. Controlling
2. Middle
a. Planning
b. Organization
c. Staffing
3. Lower
15/1/2010 10

11. CLASSIFICATION OF DECISION
1. Nature
2. Level of Management
3. Capacity
4. Programmer
5. Individual and Group decision
15/1/2010 11

12. STEPS OF DECISION MAKING
1. Problem identification
2. Diagnosing the problem
3. Developing alternatives
4. Analysis and evaluation of alternatives
5. Selection of the best alternatives
6. Implement and follow up
15/1/2010 12

13. TECHNIQUES OF DECISION-
MAKING
1. Linear programming
2. Quadratic and dynamic programming
3. Network method
4. Que Theory
5. Game Theory
6. Correlation Theory
7. Probability
8. Inventory Theory
9. Servo-mechanism
10. Information Theory
15/1/2010 13