Principles of Management
2. Explain the Principles of Management.
Management: Management in all business and organizational activities is the act of coordinating the efforts of people to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources.
The 14 principles of management developed by Henri Fayol are listed and explained below:
1. Division of work
2. Authority and responsibility
3. Discipline
4. Unity of command
5. Unity of direction
6. Sub-ordination of individual interests to general interest
7. Remuneration of personnel
8. Centralization
9. Scalar Chain
10. Order
11. Equity
12. Stability of personnel
13. Initiative
14. Esprit de corps
1. Division of Work: In an organization, work should be divided correctly, according to the time available. The potential of employees increase when they are allowed to do the same work again.
2. Authority and Responsibility:
Authority: Authority is the power given to a person to command and get work from his sub-ordinates. It is the right given to managers.
Responsibility: Responsibility is the work expected from workers by their superiors. Wherever authority is present, responsibility occurs.
3. Discipline: In an organization, workers should obey the commands of their superiors. Hence, discipline is very important for any organization. It promotes leadership and fair dealing.
4. Unity of Command: A worker should receive commands from only one person. Commands from multiple superiors lead to conflicts and chaos. Hence, unity of command should be maintained.
5. Unity of Direction: An organization might contain
Management: Management in all business and organizational activities is the act of coordinating the efforts of people to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources.
The 14 principles of management developed by Henri Fayol are listed and explained below:
1. Division of work
2. Authority and responsibility
3. Discipline
4. Unity of command
5. Unity of direction
6. Sub-ordination of individual interests to general interest
7. Remuneration of personnel
8. Centralization
9. Scalar Chain
10. Order
11. Equity
12. Stability of personnel
13. Initiative
14. Esprit de corps
1. Division of Work: In an organization, work should be divided correctly, according to the time available. The potential of employees increase when they are allowed to do the same work again.
2. Authority and Responsibility:
Authority: Authority is the power given to a person to command and get work from his sub-ordinates. It is the right given to managers.
Responsibility: Responsibility is the work expected from workers by their superiors. Wherever authority is present, responsibility occurs.
3. Discipline: In an organization, workers should obey the commands of their superiors. Hence, discipline is very important for any organization. It promotes leadership and fair dealing.
4. Unity of Command: A worker should receive commands from only one person. Commands from multiple superiors lead to conflicts and chaos. Hence, unity of command should be maintained.
5. Unity of Direction: An organization might contain