CHAPTER 2
PRINCIPLES OF MANAGEMENT
A management principle is a broad and general guideline for decision making and behavior but they are not rigid (not changeable) and can be changed (altered).
NATURE OF PRINCIPLES OF MANAGEMENT
(i) Universal applicability:
The principles of management are intended to apply to all types of organisations, small or large, not for profit organisation, religious place ans so on.
(ii) General guidelines:
The principles are guidelines to action but do not provide readymade, straitjacket solutions to all managerial problems. This is so because business environment is complex and dynamic.(iii) Formed by practice and experimentation:
The principles of management are formed by experience and collective wisdom of managers as well as experimentation.
For example: :Discipline" is necessary for accomplishing any purpose.
(iv) Flexible:
The principles of management are not rigid. They are flexible and can be modified by the manager when the situation required.
(v) Mainly behavioural:
Management principles aim at influencing behaviour of human beings also enable a better understanding of the relationship between human and material resources.
(vi) Cause and effect relationships:
The principles of management are intended to establish relationship between cause and effect.
For example: Motivation leads to efficiency of workers.
(vii) Contingent:
Principles of management is contingent or dependent upon the prevailing situation at a particular point of time.
IMPORTANCE/SIGNIFICANCE OF PRINCIPLES OF MANAGEMENT
(i) Providing managers with useful insights into reality:
The principles of management enable managers to learn from past mistakes and save time in solving problems. It add to their knowledge, ability and understanding of managerial situations.
(ii) Optimum utilisation of resources and effective administration:
Principles of management help manager to put resources in such a manner that they should give maximum benefit with minimum cost.
(iii) Scientific decisions:
Management principles help in thoughtful decision-making. Management decisions are based on logic rather than blind faith.
(iv) Meeting changing enviornment requirements: .
Principles of management help managers to meet changing requirements of the environment and adapt to dynamic business environment.
(v) Fulfilling social responsibility:
Business/Organisation has to fulfill their social responsibilities. Management principles help to meet these demands.
for example: 'Equity', no discrimination should be there in the basis of gender, religion, cast, etc.
(vi) Management training, education and research:
Principles of management are at the core of management theory. As such these are used as a basis for management training, education and research.
TAYLOR'S PRINCIPLES OF SCIENTIFIC MANAGEMENT
Fredrick Winslow Taylor was an American mechanical engineer who sought to improve industrial efficiency.
He is know as Father of Scientific Management.
He gave following principle of management:
(i) Science not Rule of Thumb:
According to this principle Taylor introduce that each job performed in the organisation should be based on scientific inquiry rather than guess. He referred the limitations of the rule of thumb approach of management. There should not be hit and miss method.
(ii) Harmony, Not Discord:
According to this principle, there should be complete harmony between the management and the worker. This can be achieved by mental revolution. There is need for both worker and management to change there mentality it can done by sharing of gain between management and worker.
(iii) Cooperation, Not Individualism:
This principle is an extension of principle of ‘Harmony not discord’. Workers and manager must work in cooperation with mutual understanding from each others.
(iv) Development of Each and Every Person to His or Her Greatest Efficiency and Prosperity:
Industrial efficiency depends upon the efficiency of worker.
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