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What Is Management Management is the act of getting people together 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.Principles: Principles 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. The principles of such a system are understood by its users as the essential characteristics of the system, or reflecting system's designed purpose, and the effective operation or use of which would be impossible if any one of the principles was to be ignored . These principles are derived: - On the basis of observation and analysis i.e. practical experience of managers. By conducting experimental studies.PowerPoint Presentation: Principles of Management A manager’s primary challenge is to solve problems creatively, and you should view management as “the art of getting things done through the efforts of other people .” The principles of management, then, are the means by which you actually manage, that is, get things done through others—individually, in groups, or in organizations. Formally defined, the principles of management are the activities that “plan, organize, and control the operations of the basic elements of [people], materials, machines, methods, money and markets, providing direction and coordination, and giving leadership to human efforts, so as to achieve the sought objectives of the enterprise.PowerPoint Presentation: 14 Principles By Henri Fayol Division of Labor Henry Fayol has stressed on the specialization of jobs. He recommended that work of all kinds must be divided & subdivided and allotted to various persons according to their expertise in a particular area. Subdivision of work makes it simpler and results in efficiency. It also helps the individual in acquiring speed, accuracy in his performance. Specialization leads to efficiency & economy in spheres of business. 2. Party of Authority & Responsibility Authority & responsibility are co-existing. If authority is given to a person, he should also be made responsible. Authority refers to the right of superiors to get exactness from their sub-ordinates whereas responsibility means obligation for the performance of the job assigned. Authority without responsibility leads to irresponsible behavior whereas responsibility without authority makes the person ineffective.PowerPoint Presentation: 3. Principle of One Boss A sub-ordinate should receive orders and be accountable to one and only one boss at a time. In other words, a sub-ordinate should not receive instructions from more than one person because - - It undermines authority - Weakens discipline - Divides loyalty - Creates confusion - Delays and chaos - Escaping responsibilities - Duplication of work - Overlapping of efforts Therefore, dual sub-ordination should be avoided unless and until it is absolutely essential. Unity of command provides the enterprise a disciplined, stable & orderly existence. It creates harmonious relationship between superiors and sub-ordinates.PowerPoint Presentation: 4. Unity of Direction Fayol advocates one head one plan which means that there should be one plan for a group of activities having similar objectives. Related activities should be grouped together. There should be one plan of action for them and they should be under the charge of a particular manager. According to this principle, efforts of all the members of the organization should be directed towards common goal. Without unity of direction, unity of action cannot be achieved. e. In fact, unity of command is not possible without unity of direction. Equity Equity means combination of fairness, kindness & justice. It implies that managers should be fair and impartial while dealing with the subordinates. They should give similar treatment to people of similar position. They should not discriminate with respect to age, caste, sex, religion, relation etc. Equity is essential to create and maintain cordial relations between the managers and sub-ordinate .PowerPoint Presentation: Basis Unity of command Unity of direction Meaning It implies that a sub-ordinate should receive orders & instructions from only one boss. It means one head, one plan for a group of activities having similar objectives. Nature It is related to the functioning of personnel’s. It is related to the functioning of departments, or organization as a whole . Necessity It is necessary for fixing responsibility of each subordinates. It is necessary for sound organization . Advantage It avoids conflicts, confusion & chaos. It avoids duplication of efforts and wastage of resources. Result It leads to better superior sub-ordinate relationship. It leads to smooth running of the enterprise .PowerPoint Presentation: 6. Order Arrangement of things is called material order and placement of people is called social order. Material order- There should be safe, appropriate and specific place for every article and every place to be effectively used for specific activity and commodity. Social order- Selection and appointment of most suitable person on the suitable job. There should be a specific place for every one and everyone should have a specific place so that they can easily be contacted whenever need arises. 7. Fair Remuneration The quantum and method of remuneration to be paid to the workers should be fair, reasonable, satisfactory & rewarding of the efforts. As far as possible it should accord satisfaction to both employer and the employees. Wages should be determined on the basis of cost of living, work assigned, financial position of the business, wage rate prevailing etc. Logical & appropriate wage rates and methods of their payment reduce tension & differences between workers & management creates harmonious relationship and pleasing atmosphere of work. Fayol also recommended provision of other benefits such as free education, medical & residential facilities to workers.PowerPoint Presentation: 8. Initiative Workers should be encouraged to take initiative in the work assigned to them. It means eagerness to initiate actions without being asked to do so. Fayol advised that management should provide opportunity to its employees to suggest ideas, experiences& new method of work. It helps in developing an atmosphere of trust and understanding. People then enjoy working in the organization because it adds to their zeal and energy. To suggest improvement in formulation & implementation of place. They can be encouraged with the help of monetary & non-monetary incentives . 9 . Discipline According to Fayol , “Discipline means sincerity, obedience, respect of authority & observance of rules and regulations of the enterprise”. This principle applies that subordinate should respect their superiors and obey their order. It is an important requisite for smooth running of the enterprise. Discipline is not only required on path of subordinates but also on the part of management .PowerPoint Presentation: 10. Stability of Tenure Fayol emphasized that employees should not be moved frequently from one job position to another i.e. the period of service in a job should be fixed. Therefore employees should be appointed after keeping in view principles of recruitment & selection but once they are appointed their services should be served. According to Fayol . “Time is required for an employee to get used to a new work & succeed to doing it well but if he is removed before that he will not be able to render worthwhile services”. As a result, the time, effort and money spent on training the worker will go waste. Stability of job creates team spirit and a sense of belongingness among workers which ultimately increase the quality as well as quantity of work. 11. Scalar Chain Fayol defines scalar chain as ’The chain of superiors ranging from the ultimate authority to the lowest”. Every orders, instructions, messages, requests, explanation etc. has to pass through Scalar chain. But, for the sake of convenience & urgency, this path can be cut shirt and this short cut is known as Gang Plank.PowerPoint Presentation: 12. Sub-Ordination of Individual Interest to General Interest An organization is much bigger than the individual it constitutes therefore interest of the undertaking should prevail in all circumstances. As far as possible, reconciliation should be achieved between individual and group interests. But in case of conflict, individual must sacrifice for bigger interests. In order to achieve this attitude, it is essential that – - Employees should be honest & sincere. - Proper & regular supervision of work. - Reconciliation of mutual differences and clashes by mutual agreement. For example, for change of location of plant, for change of profit sharing ratio, etc.PowerPoint Presentation: 13. Centralization & De-Centralization Centralization means concentration of authority at the top level. In other words, centralization is a situation in which top management retains most of the decision making authority. Decentralization means disposal of decision making authority to all the levels of the organization. In other words, sharing authority downwards is decentralization. According to Fayol , “Degree of centralization or decentralization depends on no. of factors like size of business, experience of superiors, dependability & ability of subordinates etc. Anything which increases the role of subordinate is decentralization & anything which decreases it is centralization. Fayol suggested that absolute centralization or decentralization is not feasible. An organization should strike to achieve a lot between the two. 14. Espirit De’ Corps It refers to team spirit i.e. harmony in the work groups and mutual understanding among the members. Spirit De’ Corps inspires workers to work harder. Fayol cautioned the managers against dividing the employees into competing groups because it might damage the moral of the workers and interest of the undertaking in the long run.PowerPoint Presentation: Management Principles – Features Principles of Management are Universal Management principles are applicable to all kinds of organizations - business & non business. They are applicable to all levels of management . Every organization must make best possible use by the use of management principles. Therefore, they are universal or all pervasive . Principles of Management are Flexible Management principles are dynamic guidelines and not static rules. There is sufficient room for managerial discretion i.e. they can be modified as per the requirements of the situation. Modification & improvement is a continuous phenomenon in case of principles of management.PowerPoint Presentation: Principles of Management have a Cause & Effect Relationship Principles of management indicate cause and effect relationship between related variables. They indicate what will be the consequence or result of certain actions. Therefore, if one is known, the other can be traced. Principles of Management - Aims at Influencing Human Behavior Human behavior is complex and unpredictable. Management principles are directed towards regulating human behavior so that people can give their best to the organization. Management is concerned with integrating efforts and harmonizing them towards a goal. But in certain situations even these principles fail to understand human behavior. Principles of Management are of Equal Importance All management principles are equally important. No particular principle has greater importance than the other. They are all required together for the achievement of organizational goals .PowerPoint Presentation: importance of the Principles of Management Improves Understanding From the knowledge of principles managers get indication on how to manage an organization. The principles enable managers to decide what should be done to accomplish given tasks and to handle situations which may arise in management. These principles make managers more efficient. Direction for Training of Managers Principles of management provide understanding of management process what managers would do to accomplish what. Thus, these are helpful in identifying the areas of management in which existing & future managers should be trained. Role of Management Management principles makes the role of managers concrete. Therefore these principles act as ready reference to the managers to check whether their decisions are appropriate. Besides these principles define managerial activities in practical terms. They tell what a manager is expected to do in specific situation.PowerPoint Presentation: Thank You You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.