Assignment Set 2
What are the principles of management?
There are fourteen principles of management laid by Henri Fayol. They are elaborated further below. Division of labour
A particular task is divided into several units or segments, each performed by specialists in order to achieve efficiency. Authority and responsibility coexist
Responsibility must be understood properly in order to achieve command in the business by taking the right decision at the right time for the right purpose. Unity of command
There should be single chain of command in the organisational structure which means one person should report to only one boss Unity of direction
Managers must be methodical and must approach with a single plan following the single universal approach to achieve goals Equity
Management actions must be a combination of fairness, justice and empathy layered with the idea of productivity-based incentives. Order
The entire process of productivity must balance on a discrete system which governs on the principles of desired output
Management must elaborate through the entire chain of command the necessary of maintaining norms, rules and guidelines to enhance productivity and harmony in workplace Initiative
The workers must find their job interesting so that they are enthusiastic about learning new responsibilities, thus bringing effectiveness. Fairness
Various industrial laws and norms are established and governed by the respective legislative bodies to ensure a system of fairness, justice, equality is maintained within the industrial as well as organisational environment. Stability
Proper schooling of guidelines, methodologies, and systems involved; creates team spirit, smoothness and enhances productivity. Thus an employee will always adjust himself or herself according to the dynamic reality. Scalar chain
A strict and coordinated effort of inflow and outflow of information from top level to the lowest level of organisational hierarchy creates smoothness, review plans and solve problems faster. Subordination of individual interest to general interest
Organisation’s interest must be prioritised at all cost because it affect the interest of many stakeholders. Espirit de corps
Management must ensure the existence of team spirit, harmony and intense communication and accurate dissemination of information, trust among the employees.
Centralisation and decentralisation
Authority and power must centralise and decentralise accordingly although decentralisation is the trend nowadays in various existing multinational and national organisations. Question 2
What are the characteristics of leading?
The characteristics of leading are
* Human factor
* Executive function
* Delegating function
Characteristic of leading is required in all levels of organisation. Leading motivates all the levels in the organisation to coordinate with the CEO (leader). Continuity
Leading is a continuous process happens everywhere and at anytime in the organisation. Its importance becomes higher when the organisation is undergoing a change. Human factor
Leading directs and controls human factor of complexity and unpredictable nature in more of a disciplined, matured performer regarding fulfilment of organisational goals and objectives. Creativity
Differentiated thoughts and ideas are accumulated and processed through employees enrolled from different strata of the society brings matured creativity in order to project growth and development in the organisation. Executive function
Leading implies that the followers execute the functions of organisation, which the leader and the follower agree is important for achieving the organisational goals and through it the individual goals. Delegating function
Delegating is natural fallout of leading. It also follows that the leader trusts his or her followers and...
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