The Importance and Application of Principles of Management in the Present Day Context

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The importance and application of principles of management in the present day context

The aim of all good modern organizations is to reconcile the organizational purpose (whether this be profit for shareholders, or cost-effective services delivery, in the case of public services) with the needs and feelings of people (staff, customers, suppliers, local communities, stakeholders, etc) with proper consideration for the planet - the world we live in (in terms of sustainability, environment, wildlife, natural resources, our heritage, 'fair trade', other cultures and societies, etc) and at all times acting with probity – encompassing love, integrity, compassion, honesty, and truth. Probity enables the other potentially conflicting aims to be harmonized so that the mix is sustainable, ethical and successful.

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Traditional inward-looking management and leadership skills (which historically considered only the purpose - typically profit - and the methods for achieving it) are no longer sufficient for sustainable organizational success. Organizations have a far wider agenda today.

Management

Management is the process of reaching organizational goals by working with people and other resources. Or knowing what you want people to do, and then getting them to do it the best way. Managers must concentrate on reaching organizational goals, and they should use their resources to accomplish those goals. For many years the management process has been divided into principles, sometimes called functions. Some sources will state that there are five principles and others will say there are four. Here we will use four: planning, organizing, influencing, and controlling. Some people use decision making as a fifth principle, but we will use decision making as part of the planning process. Also, some use leading instead of influencing, but we like the term influencing better.

Management is a continuing process, and managers are always involved in some way with these principles. These principles are designed to help managers accomplish organizational objectives, and good managers will use them. These principles are not isolated but are interwoven throughout the manager’s thoughts and actions. Managers must combine and coordinate these principles and must maximize their value to achieve their goals. Managers strive to be effective and efficient and these principles help them. These management principles are universal and applicable to all types of businesses and organizations

The basic ideas regarding scientific management developed. They include the following:

• Developing new standard methods for doing each job

• Selecting, training, and developing workers instead of allowing them to choose their own tasks and train themselves

• Developing a spirit of cooperation between workers and management to ensure that work is carried out in accordance with devised procedures

• Dividing work between workers and management in almost equal shares, with each group taking over the work for which it is best fitted

Principles of Management

The principles of management derive their significance from their utility. They provide useful insights to managerial behavior and influence managerial practices. Managers may apply these principles to fulfill their tasks and responsibilities. Principles guide managers in taking and implementing decisions. It may be appreciated that everything worthwhile is governed by an underlying principle. The quest of the management theorists has been and should be to unearth the underlying principles with a view to using these under repetitive circumstances as a matter of management habit.

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The significance of principles of management can be discussed in terms of the following points:

• Providing managers with useful insights into reality: The principles of management provide the managers with useful insights into real world situations. Adherence to...
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