Application of principal of management in big bazaar.
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Big Bazzar basically follows the management system put forth by Henry Fayol, the basic skeleton is of the same is described below:
DIVISION OF WORK: Work should be divided among individuals and groups to ensure that effort and attention are focused on special portions of the task. Fayol presented work specialization as the best way to use the human resources of the organization.
AUTHORITY: The concepts of Authority and responsibility are closely related. Authority was defined by Fayol as the right to give orders and the power to exact obedience. Responsibility involves being accountable, and is therefore naturally associated with authority. Whoever assumes authority also assumes responsibility.
DISCIPLINE: A successful organization requires the common effort of workers. Penalties should be applied judiciously to encourage this common effort.
UNITY OF COMMAND: Workers should receive orders from only one manager.
UNITY OF DIRECTION: The entire organization should be moving towards a common objective in a common direction.
SUBORDINATION OF INDIVIDUAL INTERESTS TO THE GENERAL INTERESTS: The interests of one person should not take priority over the interests of the organization as a whole.
REMUNERATION: Many variables, such as cost of living, supply of qualified personnel, general business conditions, and success of the business, should be considered in determining a worker’s rate of pay.
DIVISION OF WORK: Work should be divided among individuals and groups to ensure that effort and attention are focused on special portions of the task. Fayol presented work specialization as the best way to use the human resources of the organization.
AUTHORITY: The concepts of Authority and responsibility are closely related. Authority was defined by Fayol as the right to give orders and the power to exact obedience. Responsibility involves being accountable, and is therefore naturally associated with authority. Whoever assumes authority also assumes responsibility.
DISCIPLINE: A successful organization requires the common effort of workers. Penalties should be applied judiciously to encourage this common effort.
UNITY OF COMMAND: Workers should receive orders from only one manager.
UNITY OF DIRECTION: The entire organization should be moving towards a common objective in a common direction.
SUBORDINATION OF INDIVIDUAL INTERESTS TO THE GENERAL INTERESTS: The interests of one person should not take priority over the interests of the organization as a whole.
REMUNERATION: Many variables, such as cost of living, supply of qualified personnel, general business conditions, and success of the business, should be considered in determining a worker’s rate of pay.
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The Fayol's Principles of Management are to a largest extent are applicable in Big Bazar. The principles of management like Division and specialization of work, authority and responsibility, discipline, unity of command and direction, Subordination of Individual Interest,Remuneration,The Degree of Centralization, Scalar Chain, Order, Equity, Initiative and Esprit de Corps are very much followed in Big Bazar. That is why Big Bazar is developing by leaps and bounds.
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