Explain the Principles of modern management
answer in 100 - 150 words
Answers
Answer:
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-
Answer:
The Father of Modem Management is Mr.Henry Fayol, and according to him there are 14 major principles of management which every manager has to practice for the success of the organisation.
(i) Division of Work: According to this principle the whole work is divided into small tasks. This leads to specialization which increases the efficiency of labour.
(ii) Authority and Responsibility: This is the issue of commands followed by responsibility for their consequences.
(iii) Discipline: It is obedience, proper conduct in relation to others, respect of authority, etc. It is essential for the smooth functioning of all organisations.
(iv) Unity of Command: This principle states that each subordinate should receive orders and be accountable to one and only one superior.
(v) Unity of Direction: All related activities should be put under one group, there should be one plan of action for them, and they should be under the control of one manager.
(vi) Subordination of Individual Interest to Mutual Interest: The management must put aside personal considerations and put company objectives firstly.
(vii) Remuneration: Workers must be paid sufficiently as this is a chief motivation of employees and therefore greatly influences productivity.
(viii) The Degree of Centralization: The amount of power wielded with the central management depends on company size.
(ix) Line of Authority/Scalar Chain: This refers to the chain of superiors ranging from top management to the lowest rank.
(x) Order: Social order ensures the fluid operation of a company through authoritative procedure.
(xi) Equity: Employees must be treated kindly, and justice must be enacted to ensure a just workplace.
(xii) Stability of Tenure of Personnel: Stability of tenure of personnel is a principle stating that in order for an organisation to run smoothly, personnel (especially managerial personnel) must not frequently enter and exit the organisation.
(xiii) Initiative: Using the initiative of employees can add strength and new ideas to an organisation.
(x/v) Esprit de Corps/Team Spirit: This refers to the need of managers to ensure and develop morale in the workplace; individually and communally.