Principles Of Management
- 1. Principles of Management Created by : Aishath Eaman Ummu Kulsum Aishath Farhana Yaaniya Saleem 8 February 2010 Management and OB
- 2. Contents What is management? Functions of Management 14 Principles of Management Summary
- 3. What is management? Management is an art of getting things done through and with the people in formally organized groups.
- 4. Functions of Management Planning Organizing Staffing Directing Controlling
- 5. Principles of management Management principles are the statements of fundamental truth based on logic which provides guidelines for managerial decision making and actions.
- 6. There are 14 Principles of Management described by Henri Fayol These principles are derived: - On the basis of observation and analysis i.e. practical experience of managers. By conducting experimental studies.
- 7. 1. Division of Labor Work of all kinds must be divided & subdivided and allotted to various persons according to their expertise in a particular area.
- 8. 2. Authority & Responsibility Authority refers to the right of superiors to get exactness from their sub-ordinates. Responsibility means obligation for the performance of the job assigned.
- 9. 3. Unity of Command A sub-ordinate should receive orders and be accountable to one and only one boss at a time. He should not receive instructions from more than one person
- 10. 4. Unity of Direction People engaged in the same kind of business or same kind of activities must have the same objectives in a single plan. Without unity of direction, unity of action cannot be achieved.
- 11. 5. Equity Equity means combination of fairness, kindness & justice. The employees should be treated with kindness & equity if devotion is expected of them.
- 12. 6. Order This principle is concerned with proper & systematic arrangement of things and people. Arrangement of things is called material order and placement of people is called social order.
- 13. 7. Discipline Discipline means sincerity, obedience, respect of authority & observance of rules and regulations of the enterprise. Subordinate should respect their superiors and obey their order.
- 14. 8. Initiative Initiative means eagerness to initiate actions without being asked to do so. Management should provide opportunity to its employees to suggest ideas, experiences& new method of work.
- 15. 9. Remuneration Remuneration to be paid to the workers should be fair, reasonable, satisfactory & rewarding of the efforts. It should accord satisfaction to both employer and the employees.
- 16. 10. Stability of Tenure Employees should not be moved frequently from one job position to another i.e. the period of service in a job should be fixed.
- 17. 11. Scalar Chain Scalar chain is the chain of superiors ranging from the ultimate authority to the lowest. Every orders, instructions etc. has to pass through Scalar chain.
- 18. 12. Sub-Ordination of Individual Interest to common goal An organization is much bigger than the individual it constitutes therefore interest of the undertaking should prevail in all circumstances.
- 19. 13. Espirit De’ Corps It refers to team spirit i.e. harmony in the work groups and mutual understanding among the members. Espirit De’ Corps inspires workers to work harder.
- 20. 14. Centralization Centralization means concentration of authority at the top level. In other words, centralization is a situation in which top management retains most of the decision making authority.
- 21. The Principles of Management are the essential, underlying factors that form the foundations of successful management. These principles serve as guidelines for decisions and actions of managers.
- 22. THANK YOU!