What is management in principles of management?
Answers
Answer:
Management in business refers to arrangments of the resources like man, machine, money, material, and power to accomplish the pre-defined work of the Organization.
The principal of Management are as follows -
These principles are given by Mr. Henry Foyal.
Division of Work: This is the principle says about the work that should be divided among the employee as per their skill and potential in the organization.
Authority and Responsibility: In this principle, the allotment of the authority and responsibility should be done in an equal amount to let the employee have a right to take a necessary decision on time yo maintain efficiency and effectiveness.
Discipline: The working employees should be operating under certain ethical values as well as rules - regulations that maintain a comfortable and respectful environment.
Unit of Command: One subordinate should be co-ordinate by only one supervisor for the clear and focused working conditions.
Unity of Direction: When a firm has its vision and mission clear. It provides unity of direction where all the levels of the firms know their do's and don'ts for effective functioning.
Subordination of Individual Interest to General Interest: A firm should know that everything individual is different and their mind-set is so. So, channeling the thought that they can achieve their goals and objectives through achieving the firm's goals and objectives.
Remuneration of Personnel: Remuneration is one of the reasons why employees work. So, having the potential salary as per employee caliber is necessary.
Centralization: This says the authority in the firm should not be construed in the fewer hands, whereas, it should be distributed among the different levels in an equal amount.
Scalar Chain: When it comes to the communication procedure among the Organization a set pattern is to follow to discuss and work in the subject matter. It also says that direct communication between people of the same authority should be allowed.
Order: Organization follows up the proper order of working to maintain the decorum. Employees should know the pattern of how to behave and work with a structured pattern.
Equity: The employees of the Organization must be treated equally. There should be no discrimination based on caste, color or gender.
Stability of Tenure of Personnel: To keep the potential in frim is one of the main tasks a firm has to maintain. Personnel is the main factor of working in a whole Organization that leads to the completion of every task in the desired manner.
Initiative: Here, we say that employees, as well as leaders, should give the chance of taking initiative in the firms working by putting up the creative and innovative ideas to boost the working of the firm.
Esprit de corps: This refers to have a good team spirit between the employees of the firm. This creates a comfortable and respectful environment for the employee to work and achieve the targets smoothly.