Explain the Principles of modern management
answer in 100 - 150 words
Answers
Answer:
Explanation:
The fourteen principles of management created by Henri Fayol are explained below.
Division of Work- ...
Authority and Responsibility- ...
Discipline- ...
Unity of Command- ...
Unity of Direction- ...
Subordination of Individual Interest- ...
Remuneration- ...
Centralization-
The Principles of Modern Management
Hamel gives us a nice way to frame looking at what he calls the modern management principles, by looking at their application, and their intended goal.
Via The Future of Management:
Principle Application Goal
Standardization Minimize variances from standards around inputs, outputs, and work methods. Cultivate economies of scale, manufacturing efficiency, reliability, and quality.
Specialization (of tasks and functions) Group like activities together in modular organizational units. Reduce complexity and accelerate learning.
Goal Alignment Establish clear objectives through a cascade of subsidiary goals and supporting metrics.
Ensure that individual efforts are congruent with top-down goals. Ensure that individual efforts are congruent with top-down goals.
Hierarchy Create a pyramid of authority based on a limited span of control. Maintain control over a broad scope of operations.
Planning and control Forecast demand, budget resources, and schedule tasks, then track and correct deviations from plan. Establish regularity and predictability in operations; conformance to plans.
Extrinsic rewards Provide financial rewards to individuals and teams for achieving specified outcomes. Motivate effort and ensure compliance with policies and standards.
An Alternative View
When I first read these principles, my first reaction was that yes, they do reflect the way a lot of organizations manage people.
But I didn’t think it reflects the future wave of more Agile or more Lean organizations that lead a different way.
These principles look very different from leaner, flatter, more Agile organizations that empower self-organizing teams that use more Agile planning methods and focus on creating conditions for intrinsic satisfaction, while wrapping themselves around their customers.
What are the Principles Upon Which Your Management Beliefs are Based?
Most people aren’t aware of the principles behind the management beliefs that they practice or preach. But before coming up with new ones, it helps to know what current management thinking is rooted in.