Principles of Management

Topics: Management, Henri Fayol, Fayolism Pages: 9 (2424 words) Published: November 15, 2011
Principles of Management.

Meaning of Principles of Management; Management principles are the statements of fundamental truth. These principles provide guidelines for managerial decision making and action. The management principles are both descriptive and prescriptive.  Nature of principles of Management:

. Management principles are universal -can be applied in different organisations eg. business, goverment, military, hospital, university etc. . Management principles are flexible guidelines.
. There is a cause and effect relationship in some management principles. . Principles of management are designed to influence human behaviour.  . Management principles must be applied carefuly depending upon the organisational requirements and situation standards. 

Significance of principles of management
. Management principles serve as guidelines for the managers to manage with different situations. . It helps in understanding of Nature of management.
. Management Principles aimed at influencing human behaviour. . Management principles improves the managers efficency who will work for social objectives. . Management principles provide new ideas, imagination and visions to the managers and the organisation.  . Guide to research. 

Fayol's principles of Management.
. Division of work
. Authority and Responsibilty
. Discipline
. Unity of command
. Unity of direction
. Centralisation
. Scalar chain
. Order
. Equity
. Stability of tenure
. Initiative
. Espirit of corps
. Subordination of Individual Interest to general Interest .

Meaning of Scientific management:
Scientific principles were given by F.W. Taylor and his followers are known as scientific management thinker who insisted on the introduction of scientific methods in the management. It aims at replacement of traditional techniques by scientific techniques. It is the systematic approach to handle management problems. It helps to discover the best method of doing a work at lower cost. 

Characterstics of scientific management;
. It implies scientific techniques in method of work ,recuritment ,selection and training of workers.  . It rejects the age old method of "rule of thumb or 'hit or miss'approach. . A complete change in the mental atitude of the workers as well as the management is done with the help of scientific management. 

Principles of Scientific Management;
. Development and Application of Scientific Methods.
. Scientific selection ,training and development of workmen. . Close co-operation between workers and management.
. Division of responsibility between workers and management.  . Maximum prosperity for employers and employees.

Techniques of Scientific Management:
. Time study
. Motion study.
. Standarisation
. Functional Foremanship
. Differential piece rate plan.

Criticism of scientific management;
. From point of Employers; Expensive and Time consuming.
. From point of Employees /Workers; Reduce employment opportunities ,Insurity and uncertainity. 

A principle refers to a fundamental truth. It establishes cause and effect relationship between two or more variables under given situation. They serve as a guide to thought & actions. Therefore, management principles are the statements of fundamental truth based on logic which provides guidelines for managerial decision making and actions. These principles are derived: - a. On the basis of observation and analysis i.e. practical experience of managers. b. By conducting experimental studies.There are 14 Principles of Management described by Henri Fayol.| 1. Division of Labor

a. Henry Fayol has stressed on the specialization of jobs. b. He recommended that work of all kinds must be divided & subdivided and allotted to various persons according to their expertise in a particular area. c. Subdivision of work makes it simpler and results in efficiency. d. It also helps the individual in acquiring speed, accuracy in his performance....
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