Name and explain the techniques of scientific management which helps in eliminating unnecessary diversity lof products and thus results in saving cost
Answers
Answer:
Types of Principles of Management
Fayol’s Principles of General Management
Taylor’s Principles of Scientific Management.
Significance of Principles of Management
They help to provide managers with useful insights into reality and increase their efficiency in dealing with recurring problems.
They ensure optimum utilisation of resources as due to the presence of cause and effect relationship the outcome of the decisions and actions can be predicted. Moreover, it leads to effective administration as the principles tend to restrict the personal prejudices and biases.
They facilitate scientific decision making as they emphasise on logical thinking rather than blind faith.
They help to meet the changing requirements of the environment to the best advantage ofa organisation.
They help in fulfilling social responsibility of an organisation.
They facilitate the process of management training, education and research as they are at the core of management theory.