Principles of management 12
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The document discusses the principles of management, including its meaning, nature, characteristics, and significance. It outlines Henri Fayol's 14 principles for effectively managing subordinates. The principles of management provide basic guidelines, are applicable in business and non-business organizations at all levels and sizes. They ensure the smooth working of an organization and are situational and flexible in nature. Following principles of management can reduce waste, make optimal use of resources, motivate employees, improve efficiency, and facilitate smooth conduct of activities.
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Principles of management 12
- 1. PRINCIPLES OF MANAGEMENT MEANING NATURE AND CHARACTERISTIC NEED/ SIGNIFICANCE HENRI FOYOL’S 14 PRINCIPLES
- 2. NATURE AND CHARACTERISTICS 1)Basic Guidelines>> to manage subordinates effectively 2)Applicable to Business and Non- Business organizations. 3) Applicable at all levels. 4) Applicable to any Size of Business. 5) Time Tested > since 1916 6) Ensures Smooth Working of an organization
- 3. .. 7)Situational / Flexible in Nature.> may delegate else train. 8) Intangible > cannot be seen but felt in the form of reduction of wastages, optimum use of resources, Motivated force, higher effi…etc. 9) Degree of Application.>. Depend on size of org. 10) Global Application..
- 4. NEED/SIGNIFICANCE O P.O. MGMT 1) Application and Dedication . Eg discipline 2) Less Burden on Superiors>> delegation 3) Corporate Image> Goodwill 4) Proper Direction> proper division … 5) Higher Efficiency 6) Facilitates Smooth Conduct of Activities. 7) Motivation to Employees> remuneration, incentives
- 5. 8) Team Work 9) Reduced Absenteeism and Labour Turnover 10) Mutual Respect.