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10233 Henri Fayols 14 Principles of Management

A principle refers to a fundamental truth. It establishes cause and effect relationship between two or more variables under given situation. They serve as a guide to thought & actions. Therefore, management principles are the statements of fundamental truth based on logic which provides guidelines for managerial decision making and actions. These principles are derived: […]

10238 Importance of Management Principles

Following are the main importance of the Principles of Management. Improves Understanding. Direction for Training of Managers. Role of Management. Guide to Research in Management. Improves Understanding – From the knowledge of principles managers get indication on how to manage an organization. The principles enable managers to decide what should be done to accomplish given […]

10723 Principles of Scientific Management

Development of Science for each part of men’s job (replacement of rule of thumb) This principle suggests that work assigned to any employee should be observed, analyzed with respect to each and every element and part and time involved in it. This means replacement of odd rule of thumb by the use of method of […]

10230 Importance of Management

It helps in Achieving Group Goals – It arranges the factors of production, assembles and organizes the resources, integrates the resources in effective manner to achieve goals. It directs group efforts towards achievement of pre-determined goals. By defining objective of organization clearly there would be no wastage of time, money and effort. Management converts disorganized […]

9643 How Management Functions are Performed at Coca Cola

Planning The vision of the Coca-Cola Corporation is to become the biggest and the best anchor bottler in the world and its mission is to refresh everyone which guides its management team in the planning process. The top management of the company engages in formulating five year longer term plans as well as shorter term […]

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  1. Principles of Management are Universal

    1. Management principles are applicable to all kinds of organizations - business & non business.
    2. They are applicable to all levels of management.
    3. Every organization must make best possible use by the use of management principles.
    4. Therefore, they are universal or all pervasive.

  2. Principles of Management are Flexible

    1. Management principles are dynamic guidelines and not static rules.
    2. There is sufficient room for managerial discretion i.e. they can be modified as per the requirements of the situation.
    3. Modification & improvement is a continuous phenomenon in case of principles of management.

  3. Principles of Management have a Cause & Effect Relationship

    1. Principles of management indicate cause and effect relationship between related variables.
    2. They indicate what will be the consequence or result of certain actions. Therefore, if one is known, the other can be traced.

  4. Principles of Management - Aims at Influencing Human Behavior

    1. Human behavior is complex and unpredictable.
    2. Management principles are directed towards regulating human behavior so that people can give their best to the organization.
    3. Management is concerned with integrating efforts and harmonizing them towards a goal.
    4. But in certain situations even these principles fail to understand human behavior.

  5. Principles of Management are of Equal Importance

    1. All management principles are equally important.
    2. No particular principle has greater importance than the other.
    3. They are all required together for the achievement of organizational goals.

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