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PRINCIPLES OF MANAGEMRNT

By-SANJIV KUMAR YADAV

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DEFINITION OF MANAGEMENT

“…..Management is simply the process of decision-making and control over the action of human being for the express purpose of attaining pre-determined goals.”

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NATURE OF MANAGEMENT

1. Essential Ingredient of all organized work.

2. Management is distinct process.

3. It is an integrating force.

4. It aims at achieving pre-determined objectives.

5. It is universal in character.

6. It is intangible.

7. It utilizes interdisciplinary.

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SCOPE OF MANAGEMENT

1. Functional process

2. Functional areas

3. Study and understanding of various subject

4. Principles are universal.

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FUNCTION OF MANAGEMENT

1. Planning

2. Organizing

3. Staffing

4. Directing

5. Controlling

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IMPORTANCE OF MANAGEMENT

1. To increase operating efficiency

2. To crystallize the nature of management

3. To improve research

4. To attain social objective

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PRINCIPLES OF MANAGEMENT BY-HENARI FAYOL(1841-1925)

1. Division of work

2. Authority and Responsibility

3. Discipline

4. Unity of Command

5. Unity of Direction

6. Subordination of individual

7. Remuneration of Personal

8. Centralization

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9. Scalar chain

10. Order

11. Equity

12. Stability of Tenure of Personal

13. Initiative

14. Esprit de Crops

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PRNCIPLES OF MANAGEMENTBY-F.W.TAYLOR(1856-….)

1. Mental Revaluation

2. Work Studya. Method Study

b. Time Study

c. Motion Study

3. Standardization of Tools and Equipment

4. Scientific Selection and Training

5. Differential Piece Rate System

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LEVELS OF MANAGEMENT

1.1. TopTopa. Directingb. Controlling2. Middlea. Planningb. Organizationc. Staffing3. Lower

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CLASSIFICATION OF DECISION

1. Nature

2. Level of Management

3. Capacity

4. Programmer

5. Individual and Group decision

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STEPS OF DECISION MAKING

1. Problem identification

2. Diagnosing the problem

3. Developing alternatives

4. Analysis and evaluation of alternatives

5. Selection of the best alternatives

6. Implement and follow up

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TECHNIQUES OF DECISION- MAKING

1. Linear programming 2. Quadratic and dynamic programming3. Network method 4. Que Theory5. Game Theory6. Correlation Theory7. Probability 8. Inventory Theory9. Servo-mechanism10. Information Theory